How much is a home worth in ZIP code 88001?

The typical home in 88001 is worth $206,755, based on the Zillow Home Value Index.

Are home values rising in 88001?

Home values in 88001 are down 2.0% over the past year, and up 7.8% a year over five years.

What is the typical rent in 88001?

A typical home in 88001 rents for about $919 a month, a gross rental yield of 5.3%.

What is the property tax rate in 88001?

The effective property tax rate in 88001 is 0.6% — roughly $1,227 a year on a typical home.

ZIP code 88001 has a population of 37,690 and a median household income of $33,087.

HousingHandbookReference data

…

U.S. ZIP Code · NM88001

Doña Ana County · Las Cruces, NM

Typical home value

$206,755^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -2.0%
5-year / yr: +7.8%
10-year / yr: +7.0%

Relative price

vs U.S.: -27.2%
vs metro: -20.2%
vs state: -26.0%

Price history

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

The typical home in 88001 is worth $206,755 — 20.2% below the Las Cruces, NM median. Over the past year, values have fallen 2.0%. Homes here rent for a typical $919 a month — a 5.3% gross rental yield. The effective property tax rate is 0.6%.

#Rent & investment

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

Monthly rent: $919^[2]
Gross yield: 5.3%^[2]
Cap rate: 3.2%^[2]

#Property tax

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

Effective tax rate: 0.6%^[3]
Typical annual tax: $1,227^[3]

#Climate risk

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

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

#Who lives here

Population: 37,690^[3]
Median household income: $33,087^[3]

#Migration

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

Net migration: +104^[5]
Moved in: 5,116
Moved out: 5,012

Schools

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

Public schools: 17
Elementary: 7
Middle: 4
High: 6

LAS CRUCES HIGH
High · Grades 9–12 · LAS CRUCES
1,806 students
SIERRA MIDDLE
Middle · Grades 6–8 · LAS CRUCES
752 students
PICACHO MIDDLE
Middle · Grades 6–8 · LAS CRUCES
684 students
ARROWHEAD PARK EARLY COLLEGE HIGH SCHOOL
High · Grades 9–12 · LAS CRUCES
554 students
LYNN MIDDLE
Middle · Grades 6–8 · LAS CRUCES
513 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 yield5.3%

Net yield (after ~40% expenses)3.2%

Annual rent$11,023

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$1,045

Loan principal$165,404

Down payment$41,351

Total interest paid$210,963

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 ratio1.44

Monthly cost to own$1,319

Monthly rent$919

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: 94th percentile^[1]
Rental yield: 50th percentile^[2]
Property tax: 36th percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

5th for best 5-year appreciation in NMView list →

Frequently asked

How much is a home worth in ZIP code 88001?: The typical home in 88001 is worth $206,755, based on the Zillow Home Value Index.
Are home values rising in 88001?: Home values in 88001 are down 2.0% over the past year, and up 7.8% a year over five years.
What is the typical rent in 88001?: A typical home in 88001 rents for about $919 a month, a gross rental yield of 5.3%.
What is the property tax rate in 88001?: The effective property tax rate in 88001 is 0.6% — roughly $1,227 a year on a typical home.
Who lives in 88001?: ZIP code 88001 has a population of 37,690 and a median household income of $33,087.

#Comparable ZIPs

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

88048 vs 88001 →
Mesquite CDP, NM
Typical home
$208,104
Gross yield
—
87936 vs 88001 →
Garfield CDP, NM
Typical home
$182,998
Gross yield
—
88024
Berino CDP, NM
Typical home
$235,217
Gross yield
—
88021
La Union CDP, NM
Typical home
$237,815
Gross yield
—
87941
Salem CDP, NM
Typical home
$174,727
Gross yield
—
87937
Hatch, NM
Typical home
$167,313
Gross yield
—

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#Jump to section

U.S. ZIP Code · NM88001

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