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Home appreciation in Las Cruces, NM

Over the five years ending 2025, home prices in Las Cruces, NM grew an average of 9.1% a year.

Price growth at a glance

1-year

+2.4%

2025 over 2024. New Mexico: +4.0%.

5-year, per year

+9.1%

Average annual growth, 2020 to 2025. New Mexico: +8.9%.

10-year, per year

+6.3%

+84.4% in total since 2015. New Mexico: +6.5%.

How does your home compare?

Las Cruces, NM home prices rose 84.4% over the ten years to 2025, while its ZIP codes ranged from +72.5% to +89.0%. Look up your home to see where it ranks among the homes around it.

Your first analysis is free.

A model-generated estimate and analytical context, not investment advice. Investing? Score any property free

How Las Cruces, NM compares with New Mexico

The metro and its state moved almost together over that window. For five-year price growth, Las Cruces, NM ranks 205th out of 409 metros nationwide and 3rd out of 4 in New Mexico.

Index, 2005 = 100

Las Cruces, NM and New Mexico, quarterly house price index rebased to 100 in 2005.
YearLas Cruces, NMNew Mexico
2005 Q1100100
2005 Q2103104
2005 Q3106108
2005 Q4111112
2006 Q1112115
2006 Q2117119
2006 Q3118122
2006 Q4121125
2007 Q1124127
2007 Q2124128
2007 Q3125128
2007 Q4125129
2008 Q1125129
2008 Q2123128
2008 Q3121124
2008 Q4121124
2009 Q1122125
2009 Q2120122
2009 Q3117119
2009 Q4116118
2010 Q1115118
2010 Q2113116
2010 Q3114117
2010 Q4112116
2011 Q1108113
2011 Q2106111
2011 Q3107111
2011 Q4107111
2012 Q1105110
2012 Q2104109
2012 Q3103110
2012 Q4104110
2013 Q1105110
2013 Q2102110
2013 Q3101110
2013 Q4101111
2014 Q1100110
2014 Q2100111
2014 Q3101112
2014 Q4100112
2015 Q1102113
2015 Q2101113
2015 Q3102114
2015 Q4102114
2016 Q1104115
2016 Q2106116
2016 Q3103117
2016 Q4105119
2017 Q1105118
2017 Q2105119
2017 Q3107122
2017 Q4109122
2018 Q1110122
2018 Q2111124
2018 Q3111126
2018 Q4113127
2019 Q1114127
2019 Q2115130
2019 Q3116133
2019 Q4116134
2020 Q1120136
2020 Q2121137
2020 Q3122140
2020 Q4125143
2021 Q1129147
2021 Q2134153
2021 Q3145162
2021 Q4149167
2022 Q1155173
2022 Q2165182
2022 Q3170186
2022 Q4171187
2023 Q1173188
2023 Q2174192
2023 Q3183198
2023 Q4179197
2024 Q1184199
2024 Q2182204
2024 Q3183207
2024 Q4186208
2025 Q1185209
2025 Q2191214
2025 Q3188213
2025 Q4188215
2026 Q1190216
2026 Q2191218

Chart through 2026 Q2. Annual growth figures through 2025.

Growth was stronger over the last five years than over the full decade: +6.3% a year over ten years, +84.4% in total.

Over this history, home prices peaked in 2007, fell 19.4% to its 2014 low, and regained the 2007 level in 2021.

The strongest year was 2022 at +18.8%, and the weakest was 2011 at -5.6%.

In 2025 alone the index moved +2.4%, against +4.0% for the state.

ZIP codes in Las Cruces, NM

Over the ten years to 2025, the 6 ZIP codes FHFA measures in this metro ranged from +72.5% in 88007 to +89.0% in 88001, while the metro as a whole rose 84.4%.

ZIP codes in Las Cruces, NM ranked by 10-year home-price change through 2025 Column headers are buttons: click to sort, click again to reverse, and a third time to restore the original order.
88001-1.0%+8.8%+6.6%+89.0%
88012+3.4%+8.8%+6.4%+85.5%
88008+1.4%+9.4%+6.1%+81.3%
88005-1.5%+8.5%+6.0%+78.5%
88011+2.1%+8.4%+5.8%+76.3%
88007+2.9%+8.4%+5.6%+72.5%

What a home report shows

Enter an address and you get a score out of 10 for how the home ranks on appreciation potential against comparable homes in its market, with the nearby sales behind it. Here is one saved report.

Example report · saved October 14, 2026

165 N Canal St, Apt 1205, Chicago, IL 60606

Appreciation score

4.1 / 10

Around the median

Where it ranks

Ranks above about 41% of comparable homes in Chicago, IL for appreciation potential.

Price against nearby sales

Priced below most nearby sales, at $300 per square foot across 6 comparable sales.

Read the full example report

Year by year

Annual house price index for Las Cruces, NM and New Mexico, 2005 = 100 Column headers are buttons: click to sort, click again to reverse, and a third time to restore the original order.
2005100.0—100.0
2006111.7+11.7%113.3
2007118.8+6.4%120.4
2008116.7-1.8%119.0
2009113.3-2.9%114.2
2010108.2-4.5%110.0
2011102.1-5.6%105.0
201299.1-3.0%103.1
201397.7-1.4%103.9
201495.8-1.9%104.9
201597.2+1.4%106.9
201699.6+2.5%110.0
2017101.3+1.7%113.4
2018105.8+4.4%117.6
2019110.1+4.1%123.4
2020116.1+5.4%130.9
2021132.6+14.2%148.2
2022157.6+18.8%171.4
2023169.2+7.4%182.6
2024175.0+3.4%192.8
2025179.1+2.4%200.5

The 4 measured metros in New Mexico

Measured metros in New Mexico ranked by 5-year home-price appreciation through 2025 Column headers are buttons: click to sort, click again to reverse, and a third time to restore the original order.
#
1Albuquerque, NM+3.9%+9.4%+6.8%
2Farmington, NM+9.3%+9.1%+5.0%
3Las Cruces, NM+2.4%+9.1%+6.3%
4Santa Fe, NM+2.8%+8.7%+7.3%

Source & method: Metro figures: FHFA quarterly all-transactions index for metropolitan statistical areas and metropolitan divisions, annualized as the mean of the four quarterly (NSA) values. State figures: FHFA quarterly all-transactions index, annualized as the mean of the four quarterly (NSA) values. The chart uses quarterly readings, with each series set to 100 in the first quarter of 2005. ZIP figures: FHFA annual five-digit ZIP index (developmental), ZIPs with sufficient transaction history. Missing years are reported as missing by FHFA and are not estimated. Each ZIP is placed in the metro that holds the county with most of its housing units. “5-yr /yr” and “10-yr /yr” are compound annual growth over the window ending 2025; all figures are nominal. Data published by the FHFA House Price Index; this edition compiled 2026-10-17. Educational data, not investment advice.

See the New Mexico row in the state rankings, the county rankings, and, for why one metro number hides so much, why two homes in the same ZIP code appreciate differently.

How does your home compare?

See how your home ranks against nearby homes. Your first analysis is free.

Look up your home

Investing? Score any property free

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Measured FHFA data · chart through 2026 Q2