How much is a home worth in ZIP code 87508?

The typical home in 87508 is worth $646,703, based on the Zillow Home Value Index.

Are home values rising in 87508?

Home values in 87508 are down 0.1% over the past year, and up 4.2% a year over five years.

What is the typical rent in 87508?

A typical home in 87508 rents for about $2,925 a month, a gross rental yield of 5.4%.

What is the property tax rate in 87508?

The effective property tax rate in 87508 is 0.5% — roughly $2,948 a year on a typical home.

ZIP code 87508 has a population of 18,518 and a median household income of $101,565.

HousingHandbookReference data

…

U.S. ZIP Code · NM87508

Santa Fe County · Santa Fe, NM

Typical home value

$646,703^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -0.1%
5-year / yr: +4.2%
10-year / yr: +6.2%

Relative price

vs U.S.: +127.7%
vs metro: +47.1%
vs state: +131.3%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 87508 is worth $646,703 — 47.1% above the Santa Fe, NM median. Over the past year, values have fallen 0.1%. Homes here rent for a typical $2,925 a month — a 5.4% gross rental yield. The effective property tax rate is 0.5%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $2,925^[2]
Gross yield: 5.4%^[2]
Cap rate: 3.3%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.5%^[3]
Typical annual tax: $2,948^[3]

#Climate risk

FEMA National Risk Index ratings for Santa Fe County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively Moderate
Coastal flood: Not Applicable
Wildfire: Relatively High
Drought: Relatively Moderate
Heat wave: Relatively Low
Hurricane: Not Applicable
Tornado: Very Low
Earthquake: Relatively Low
Winter weather: Relatively High

#Who lives here

Population: 18,518^[3]
Median household income: $101,565^[3]

#Migration

Household moves in and out of Santa Fe County over a year, from IRS tax-return data.

Net migration: +339^[5]
Moved in: 4,682
Moved out: 4,343

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 5
Elementary: 3
Middle: 0
High: 2

TURQUOISE TRAIL CHARTER SCHOOL
Elementary · Grades PK–8 · TURQUOISE TRAIL CHARTER SCHOOL
656 students
ACADEMY FOR TECHNOLOGY & CLASSICS
High · Grades 7–12 · SANTA FE
396 students
EL DORADO COMMUNITY SCHOOL
Elementary · Grades PK–8 · SANTA FE
392 students
AMY BIEHL COMMUNITY SCHOOL AT RANCHO VIEJO
Elementary · Grades PK–6 · SANTA FE
342 students
THE MASTERS PROGRAM
High · Grades 9–12 · THE MASTERS PROGRAM
250 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield5.4%

Net yield (after ~40% expenses)3.3%

Annual rent$35,100

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$3,270

Loan principal$517,362

Down payment$129,341

Total interest paid$659,867

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.39

Monthly cost to own$4,057

Monthly rent$2,925

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 73rd percentile^[1]
Rental yield: 100th percentile^[2]
Property tax: 73rd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 87508?: The typical home in 87508 is worth $646,703, based on the Zillow Home Value Index.
Are home values rising in 87508?: Home values in 87508 are down 0.1% over the past year, and up 4.2% a year over five years.
What is the typical rent in 87508?: A typical home in 87508 rents for about $2,925 a month, a gross rental yield of 5.4%.
What is the property tax rate in 87508?: The effective property tax rate in 87508 is 0.5% — roughly $2,948 a year on a typical home.
Who lives in 87508?: ZIP code 87508 has a population of 18,518 and a median household income of $101,565.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

87505 vs 87508 →
Santa Fe, NM
Typical home
$564,939
Gross yield
3.8%
87501 vs 87508 →
Santa Fe, NM
Typical home
$730,040
Gross yield
3.5%
87507
Santa Fe, NM
Typical home
$459,141
Gross yield
5.2%
87540
Galisteo CDP, NM
Typical home
$836,227
Gross yield
—
87535
La Cueva CDP, NM
Typical home
$419,923
Gross yield
—
87056
Stanley CDP, NM
Typical home
$411,273
Gross yield
—

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#Jump to section

U.S. ZIP Code · NM87508

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