Cities with the most expensive homes in the Santa Fe metro area
Cities with the most expensive homes in the Santa Fe metro area
Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. But with home prices reaching record heights affordability plays a huge role for buyers.
The typical home value in the United States was a record $351,423 in August, 1.3% higher than the year before. High mortgage rates are also making monthly payments more expensive; as of Sept. 21, the 30-year fixed mortgage rate sits at 7.19%.
Although home prices have inflated all across the U.S., there are some cities that command a higher price tag than others. Location, size, age, and condition are all contributing factors to home value.
Stacker compiled a list of cities with the most expensive homes in the Santa Fe metro area using data from Zillow. Charts show the monthly typical home value since January 2018.
#7. Santa Cruz, NM
- Typical home value: $313,143
- 1-year price change: +3.6%
- 5-year price change: +48.1%
#6. Glorieta, NM
- Typical home value: $323,981
- 1-year price change: -1.6%
- 5-year price change: +45.8%
#5. Edgewood, NM
- Typical home value: $348,103
- 1-year price change: +0.6%
- 5-year price change: +59.8%
#4. Cerrillos, NM
- Typical home value: $369,071
- 1-year price change: +0.9%
- 5-year price change: +53.2%
#3. Stanley, NM
- Typical home value: $388,253
- 1-year price change: -0.7%
- 5-year price change: data not available
#2. Santa Fe, NM
- Typical home value: $570,886
- 1-year price change: +0.3%
- 5-year price change: +63.4%
#1. Lamy, NM
- Typical home value: $840,255
- 1-year price change: +0.1%
- 5-year price change: +69.2%
This story features data reporting and writing by Elena Cox, and is part of a series utilizing data automation across 379 metros.
