According to the Zillow Home Value Index, New Mexico offers some of the most affordable neighborhood options in the Southwest region. You’ll find that home values have experienced remarkable growth patterns over the past 15 years, with the least expensive neighborhoods showing an average appreciation of 96.43% since 2010. This dramatic increase is particularly noteworthy when compared to the more recent five-year period where these same neighborhoods have seen an average 74.51% growth since 2020.
If you’re looking for affordable housing options, Albuquerque dominates the list with 21 of the 25 least expensive neighborhoods, while Las Cruces offers the remaining four spots. Interestingly, these budget-friendly neighborhoods aren’t staying that way for long – even the least appreciated neighborhood on the list (Constance M. Palmer in Las Cruces) has seen nearly 50% growth since 2010, while Trumbull Village in Albuquerque has more than doubled in value with a staggering 126.66% increase over the same period.
As you explore these neighborhoods, you’ll notice that the average home value among the 25 least expensive areas is $224,449 as of February 2025, with values ranging from $170,847 to $248,410. Despite their affordability, these neighborhoods have shown remarkable resilience and growth, suggesting they may represent solid investment opportunities for cost-conscious homebuyers.
25. McKinley (Albuquerque)
- 2025 Home Value: $248,410
- 2020 Home Value: $145,376
- 2015 Home Value: $111,134
- 2010 Home Value: $120,656
- % Change 2010-2025: 105.88%
- % Change 2015-2025: 123.52%
- % Change 2020-2025: 70.87%
Topping our list as the most expensive of New Mexico’s 25 most affordable neighborhoods, McKinley is located near the University of New Mexico in Albuquerque. You’ll discover this centrally-positioned neighborhood has more than doubled in value since 2010, starting at $120,656, dipping to $111,134 in 2015, before rising to $145,376 by 2020. The past five years have brought a robust 70.87% growth, pushing February 2025 values to $248,410. This represents a 105.88% increase since 2010, with an even more impressive 123.52% surge from the 2015 low point.
24. Clayton Heights-Lomas del Cielo (Albuquerque)
- 2025 Home Value: $247,626
- 2020 Home Value: $148,038
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2010-2025: N/A
- % Change 2015-2025: N/A
- % Change 2020-2025: 67.27%
Nestled in Albuquerque’s southeast quadrant, Clayton Heights-Lomas del Cielo combines affordable housing with promising growth potential. While historical data before 2020 isn’t available, you can see this neighborhood has experienced significant appreciation in recent years. From a starting value of $148,038 in 2020, homes have increased by 67.27% to reach $247,626 by February 2025.
23. Alameda Depot (Las Cruces)
- 2025 Home Value: $247,533
- 2020 Home Value: $149,252
- 2015 Home Value: $136,139
- 2010 Home Value: $163,809
- % Change 2010-2025: 51.11%
- % Change 2015-2025: 81.82%
- % Change 2020-2025: 65.85%
Situated near the historic train depot in Las Cruces, Alameda Depot represents one of the city’s more established neighborhoods. Your investment journey here would have started at a relatively high $163,809 in 2010, before experiencing a significant decline to $136,139 by 2015. Values began recovering to $149,252 in 2020, followed by a solid 65.85% growth over the next five years to reach $247,533 by February 2025. The overall 51.11% increase since 2010 is among the more modest on our list, but the 81.82% growth from the 2015 low point demonstrates strong recovery potential. Despite its comparatively slower growth, Alameda Depot still offers you a relatively affordable entry point into the Las Cruces market.
22. Skyview West (Albuquerque)
- 2025 Home Value: $246,040
- 2020 Home Value: $141,977
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2010-2025: N/A
- % Change 2015-2025: N/A
- % Change 2020-2025: 73.30%
Situated in Albuquerque’s expanding northwest area, Skyview West offers you newer housing stock with impressive growth potential. Although historical data isn’t available before 2020, you can see this neighborhood has experienced considerable appreciation in recent years. Starting from $141,977 in 2020, values have increased by a substantial 73.30% to reach $246,040 by February 2025. This strong five-year growth rate suggests Skyview West represents an attractive investment opportunity despite lacking the long-term historical data of some other neighborhoods on our list.
21. South Los Altos (Albuquerque)
- 2025 Home Value: $244,322
- 2020 Home Value: $143,665
- 2015 Home Value: $109,720
- 2010 Home Value: $120,689
- % Change 2010-2025: 102.44%
- % Change 2015-2025: 122.68%
- % Change 2020-2025: 70.06%
In the eastern foothills of Albuquerque, South Los Altos presents you with a neighborhood that has doubled in value since 2010. Starting from $120,689, prices dipped to $109,720 in 2015 before climbing to $143,665 by 2020. The past five years have delivered a robust 70.06% appreciation, bringing February 2025 values to $244,322. This represents a 102.44% increase since 2010, with an even more impressive 122.68% growth from the 2015 low point. What distinguishes South Los Altos is its relatively gentle market fluctuations compared to other neighborhoods on our list, suggesting a more stable investment opportunity that still delivers strong long-term returns while remaining among Albuquerque’s more affordable options.
20. Wells Park (Albuquerque)
- 2025 Home Value: $243,564
- 2020 Home Value: $151,691
- 2015 Home Value: $122,254
- 2010 Home Value: $147,973
- % Change 2010-2025: 64.60%
- % Change 2015-2025: 99.23%
- % Change 2020-2025: 60.57%
Just north of downtown Albuquerque, Wells Park combines historic charm with urban convenience. You’ll find this neighborhood started at a relatively higher base of $147,973 in 2010, before experiencing a significant drop to $122,254 in 2015. Values then rebounded slightly to $151,691 by 2020, followed by a solid 60.57% growth over five years to reach $243,564 by February 2025. The overall 64.60% increase since 2010 is more modest than many other neighborhoods on our list, but the near-doubling (99.23%) from the 2015 low point demonstrates Wells Park’s strong recovery from market downturns, making it an attractive option for those seeking affordability with proximity to downtown amenities.
19. Bel-Air (Albuquerque)
- 2025 Home Value: $243,411
- 2020 Home Value: $145,211
- 2015 Home Value: $113,131
- 2010 Home Value: $122,095
- % Change 2010-2025: 99.36%
- % Change 2015-2025: 115.16%
- % Change 2020-2025: 67.63%
Centrally located in Albuquerque’s mid-city area, Bel-Air offers you a neighborhood that has nearly doubled in value since 2010. Your investment would have started at $122,095, experienced a moderate dip to $113,131 by 2015, before climbing to $145,211 in 2020. The subsequent five years brought a healthy 67.63% appreciation, pushing February 2025 values to $243,411. This represents a 99.36% increase since 2010, with a more notable 115.16% growth from the 2015 low point. What makes Bel-Air particularly interesting is its relative stability through market downturns compared to other neighborhoods on our list.
18. Pat Hurley (Albuquerque)
- 2025 Home Value: $241,641
- 2020 Home Value: $139,428
- 2015 Home Value: $99,200
- 2010 Home Value: $118,516
- % Change 2010-2025: 103.89%
- % Change 2015-2025: 143.59%
- % Change 2020-2025: 73.31%
Perched on Albuquerque’s west side with spectacular views of the city, Pat Hurley neighborhood shows you what resilience in the housing market looks like. From a starting value of $118,516 in 2010, prices dropped significantly to $99,200 in 2015, before beginning a recovery to $139,428 by 2020. The past five years have delivered an impressive 73.31% growth spurt, bringing February 2025 values to $241,641. This demonstrates a 103.89% increase since 2010, but the more striking statistic is the 143.59% surge from the 2015 low point, indicating that Pat Hurley has more than doubled in value in just a decade while maintaining relative affordability compared to other Albuquerque neighborhoods.
17. West Mesa (Albuquerque)
- 2025 Home Value: $241,185
- 2020 Home Value: $132,688
- 2015 Home Value: $96,380
- 2010 Home Value: $108,783
- % Change 2010-2025: 121.71%
- % Change 2015-2025: 150.24%
- % Change 2020-2025: 81.77%
Rising above Albuquerque on the city’s western plateau, West Mesa provides you with some of the most impressive growth statistics among affordable neighborhoods. You would have seen values start at $108,783 in 2010, decline to $96,380 in 2015, then recover to $132,688 by 2020. The past five years have brought an exceptional 81.77% growth – one of the highest five-year appreciation rates on our list – pushing February 2025 values to $241,185. This represents a remarkable 121.71% increase since 2010, with an even more impressive 150.24% surge from the 2015 low point, indicating West Mesa has more than doubled in value over the past decade.
16. Monkbridge Gardens (Albuquerque)
- 2025 Home Value: $239,021
- 2020 Home Value: $137,743
- 2015 Home Value: $107,027
- 2010 Home Value: $109,919
- % Change 2010-2025: 117.45%
- % Change 2015-2025: 123.33%
- % Change 2020-2025: 73.53%
Located in Albuquerque’s diverse northeast heights, Monkbridge Gardens offers you a neighborhood that has demonstrated remarkable stability followed by strong growth. Starting from $109,919 in 2010, values remained relatively steady with only a minor dip to $107,027 in 2015, before climbing to $137,743 by 2020. The past five years have delivered a robust 73.53% appreciation, bringing February 2025 values to $239,021. This represents a 117.45% increase since 2010, showcasing Monkbridge Gardens as one of the more consistent performers on our list, with relatively minimal downturns during market fluctuations while still delivering impressive long-term growth for homeowners.
15. Barelas (Albuquerque)
- 2025 Home Value: $230,944
- 2020 Home Value: $136,597
- 2015 Home Value: $96,916
- 2010 Home Value: $125,668
- % Change 2010-2025: 83.77%
- % Change 2015-2025: 138.29%
- % Change 2020-2025: 69.07%
One of Albuquerque’s oldest and most culturally rich neighborhoods, Barelas sits just south of downtown along the Rio Grande. You’ll find this historic area has experienced significant market fluctuations, starting at $125,668 in 2010, dropping dramatically to $96,916 in 2015, then recovering to $136,597 by 2020. The past five years have brought a solid 69.07% growth, bringing February 2025 values to $230,944. While the overall 83.77% increase since 2010 is impressive, the remarkable 138.29% growth from the 2015 low point illustrates Barelas’ strong recovery and potential, making it an attractive option for those seeking affordability with historical character.
14. La Mesa (Albuquerque)
- 2025 Home Value: $228,569
- 2020 Home Value: $132,530
- 2015 Home Value: $98,013
- 2010 Home Value: $105,511
- % Change 2010-2025: 116.63%
- % Change 2015-2025: 133.20%
- % Change 2020-2025: 72.47%
East of downtown Albuquerque, La Mesa offers you a neighborhood that has more than doubled in value since 2010. Beginning at $105,511, property values experienced a modest decline to $98,013 in 2015 before rebounding to $132,530 by 2020. The subsequent five years brought a strong 72.47% growth, pushing February 2025 values to $228,569. This represents an impressive 116.63% increase since 2010, with an even more notable 133.20% surge from the 2015 low point.
13. Constance M. Palmer (Las Cruces)
- 2025 Home Value: $226,034
- 2020 Home Value: $128,260
- 2015 Home Value: $109,100
- 2010 Home Value: $151,103
- % Change 2010-2025: 49.59%
- % Change 2015-2025: 107.18%
- % Change 2020-2025: 76.23%
In eastern Las Cruces, the Constance M. Palmer neighborhood presents you with a unique market story. Unlike most areas on our list, this neighborhood started relatively high at $151,103 in 2010, before experiencing a dramatic decline to $109,100 by 2015. Values began recovering to $128,260 in 2020, followed by a strong 76.23% growth over the next five years to reach $226,034 by February 2025. While this represents the lowest long-term growth on our list at 49.59% since 2010, the impressive 107.18% increase from the 2015 low point demonstrates remarkable recovery and suggests the neighborhood has found renewed momentum in recent years.
12. Alamosa (Albuquerque)
- 2025 Home Value: $225,166
- 2020 Home Value: $126,475
- 2015 Home Value: $85,147
- 2010 Home Value: $104,078
- % Change 2010-2025: 116.34%
- % Change 2015-2025: 164.44%
- % Change 2020-2025: 78.03%
On Albuquerque’s west side, the Alamosa neighborhood showcases one of the most impressive growth stories on our list. Your investment journey here would have started at $104,078 in 2010, dropped to $85,147 in 2015, then climbed to $126,475 by 2020. The past five years have delivered a substantial 78.03% appreciation, bringing February 2025 values to $225,166. This represents a 116.34% increase since 2010, but the true headline is the extraordinary 164.44% growth from the 2015 low point – meaning property values have more than doubled in just a decade, making Alamosa one of the stronger performers among affordable New Mexico neighborhoods.
11. South San Pedro (Albuquerque)
- 2025 Home Value: $225,045
- 2020 Home Value: $131,542
- 2015 Home Value: $97,824
- 2010 Home Value: $118,275
- % Change 2010-2025: 90.27%
- % Change 2015-2025: 130.05%
- % Change 2020-2025: 71.08%
Just east of downtown Albuquerque, South San Pedro presents you with a neighborhood that has nearly doubled in value since 2010. Starting at $118,275, values dipped to $97,824 in 2015 before recovering to $131,542 by 2020. The past five years have brought a robust 71.08% growth, pushing February 2025 values to $225,045. This represents a 90.27% increase since 2010, but the more impressive figure is the 130.05% growth from the 2015 low point, demonstrating that South San Pedro has shown remarkable resilience and value appreciation despite economic fluctuations, making it an attractive option for budget-conscious homebuyers seeking long-term value.
10. Villa de Paza (Albuquerque)
- 2025 Home Value: $219,056
- 2020 Home Value: $127,036
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2010-2025: N/A
- % Change 2015-2025: N/A
- % Change 2020-2025: 72.44%
Nestled in Albuquerque’s diverse west side, Villa de Paza rounds out the top ten most affordable New Mexico neighborhoods. Though historical data before 2020 isn’t available, you can see this neighborhood has experienced substantial growth in recent years. From a 2020 baseline of $127,036, home values have increased by 72.44% to reach $219,056 by February 2025. This strong five-year appreciation suggests Villa de Paza offers you solid investment potential while remaining one of the more budget-friendly neighborhood options in the Albuquerque metropolitan area.
9. Kirtland Community (Albuquerque)
- 2025 Home Value: $215,523
- 2020 Home Value: $116,150
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2010-2025: N/A
- % Change 2015-2025: N/A
- % Change 2020-2025: 85.56%
Adjacent to Kirtland Air Force Base in southeast Albuquerque, the Kirtland Community neighborhood offers you affordable housing with impressive growth potential. While long-term historical data isn’t available, the neighborhood has demonstrated exceptional performance since 2020. Starting from $116,150, home values have surged 85.56% in just five years to reach $215,523 by February 2025. This remarkable appreciation rate, among the highest five-year growth percentages on our list, indicates the Kirtland Community has become increasingly desirable despite maintaining relative affordability compared to other Albuquerque neighborhoods.
8. South Atrisco (Albuquerque)
- 2025 Home Value: $212,886
- 2020 Home Value: $115,763
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2010-2025: N/A
- % Change 2015-2025: N/A
- % Change 2020-2025: 83.90%
On the west side of Albuquerque, South Atrisco has emerged as one of the city’s rapidly appreciating affordable neighborhoods. Although comprehensive historical data isn’t available before 2020, you can see the neighborhood has experienced exceptional growth in recent years. From a 2020 value of $115,763, homes have appreciated by a remarkable 83.90% to reach $212,886 by February 2025.
7. Santa Barbara (Albuquerque)
- 2025 Home Value: $208,699
- 2020 Home Value: $120,094
- 2015 Home Value: $87,160
- 2010 Home Value: $106,501
- % Change 2010-2025: 95.96%
- % Change 2015-2025: 139.44%
- % Change 2020-2025: 73.78%
In the southwestern part of Albuquerque, Santa Barbara provides you with a neighborhood that has nearly doubled in value since 2010. Starting from $106,501, property values declined to $87,160 by 2015 before rebounding to $120,094 in 2020. The past five years have seen a significant 73.78% jump, bringing the February 2025 average to $208,699. While the overall 95.96% growth since 2010 is impressive, the 139.44% increase from the 2015 low point is particularly noteworthy.
6. South Broadway (Albuquerque)
- 2025 Home Value: $208,538
- 2020 Home Value: $118,587
- 2015 Home Value: $83,631
- 2010 Home Value: $97,750
- % Change 2010-2025: 113.34%
- % Change 2015-2025: 149.35%
- % Change 2020-2025: 75.85%
A stone’s throw from downtown Albuquerque, the South Broadway district combines urban convenience with affordable housing options. You’ll notice this neighborhood has weathered significant market fluctuations, starting at $97,750 in 2010, falling to $83,631 in 2015, then climbing to $118,587 by 2020. The past five years have brought an impressive 75.85% growth, pushing February 2025 values to $208,538. This represents a 113.34% increase since 2010, but the more dramatic statistic is the 149.35% surge from the 2015 low point, demonstrating South Broadway’s remarkable resilience and growth potential as it has nearly tripled in value over a decade.
5. Guadalupe Village (Albuquerque)
- 2025 Home Value: $205,274
- 2020 Home Value: $116,680
- 2015 Home Value: N/A
- 2010 Home Value: N/A
- % Change 2010-2025: N/A
- % Change 2015-2025: N/A
- % Change 2020-2025: 75.93%
Tucked into Albuquerque’s diverse South Valley region, Guadalupe Village is a relatively new addition to New Mexico’s tracked neighborhoods. While historical data isn’t available prior to 2020, you can see that the neighborhood has experienced remarkable growth in just five years. Starting from $116,680 in 2020, home values have surged by 75.93% to reach $205,274 by February 2025. This rapid appreciation suggests you’re looking at an emerging neighborhood that’s quickly gaining value, despite being one of the most affordable options in New Mexico.
4. San Jose (Albuquerque)
- 2025 Home Value: $202,351
- 2020 Home Value: $106,724
- 2015 Home Value: $78,540
- 2010 Home Value: $97,813
- % Change 2010-2025: 106.88%
- % Change 2015-2025: 157.64%
- % Change 2020-2025: 89.60%
The historic San Jose neighborhood, nestled south of downtown Albuquerque, offers you a compelling housing market story. Beginning at $97,813 in 2010, values dropped significantly to $78,540 in 2015, before recovering to $106,724 by 2020. What distinguishes San Jose is its exceptional recent growth – an 89.60% increase in just five years, bringing February 2025 values to $202,351. This represents a 106.88% growth since 2010, but the truly remarkable statistic is the 157.64% increase from 2015 lows, indicating you’re looking at a neighborhood that has more than doubled in value over the past decade after weathering a significant downturn.
3. Trumbull Village (Albuquerque)
- 2025 Home Value: $198,338
- 2020 Home Value: $113,019
- 2015 Home Value: $82,387
- 2010 Home Value: $87,504
- % Change 2010-2025: 126.66%
- % Change 2015-2025: 140.74%
- % Change 2020-2025: 75.49%
In the southeast quadrant of Albuquerque lies Trumbull Village, which claims the title of most appreciated neighborhood among New Mexico’s 25 least expensive areas. You’ll find this neighborhood has undergone a tremendous transformation, starting from a modest $87,504 in 2010, dipping slightly to $82,387 in 2015, before climbing to $113,019 in 2020. The past five years have brought an impressive 75.49% surge, resulting in a February 2025 value of $198,338. This remarkable 126.66% increase since 2010 represents the strongest long-term growth on our list, making Trumbull Village potentially one of your best investment opportunities despite being the third most affordable neighborhood in the state.
2. Armijo Lateral (Las Cruces)
- 2025 Home Value: $191,214
- 2020 Home Value: $111,357
- 2015 Home Value: $89,590
- 2010 Home Value: $112,673
- % Change 2010-2025: 69.71%
- % Change 2015-2025: 113.43%
- % Change 2020-2025: 71.71%
Situated along the irrigation channels that give the neighborhood its name, Armijo Lateral presents you with Las Cruces’ second most affordable housing option. The neighborhood experienced a significant dip from $112,673 in 2010 to $89,590 in 2015, before recovering to $111,357 in 2020. Since then, Armijo Lateral has seen a dramatic 71.71% increase, bringing February 2025 values to $191,214. While this represents a 69.71% growth since 2010, the more telling statistic is the 113.43% increase from the 2015 low point, suggesting you’re looking at an area that has more than doubled in value over the past decade after recovering from a previous downturn.
1. Las Esperanzas (Las Cruces)
- 2025 Home Value: $170,847
- 2020 Home Value: $91,111
- 2015 Home Value: $72,261
- 2010 Home Value: $86,901
- % Change 2010-2025: 96.60%
- % Change 2015-2025: 136.43%
- % Change 2020-2025: 87.52%
Located in the historic heart of Las Cruces, Las Esperanzas offers you the most affordable housing in New Mexico as of February 2025. This neighborhood has experienced a remarkable journey, with home values actually decreasing from $86,901 in 2010 to $72,261 in 2015, before rebounding slightly to $91,111 in 2020. The real story, however, is what happened next – an explosive 87.52% growth in just five years, bringing the February 2025 average home value to $170,847. This represents a 96.60% increase since 2010, demonstrating that despite its affordability, Las Esperanzas has nearly doubled in value over the 15-year period.
