ZIP Code Market Report
88032 — Las Cruces, NM
Data through February 2026 · Updated monthly
Avg Home Value
$193,483
▼ 1.9% year-over-year
Month-over-Month
-0.5%
▼ 0.5%
Single Family
$192,144
Condo / Co-op
--
The average home value in the 88032 ZIP code (Las Cruces, New Mexico) is $193,483 as of February 2026. Home prices are declining, down 1.9% compared to last year.
The market in 88032 has a $95,301 spread between bottom-tier homes at $142,170 and top-tier homes at $237,471. Bottom-tier properties represent the primary opportunity range for real estate investors using the 70% rule, fix-and-flip, or BRRRR strategies.
Looking ahead, Zillow's forecast model projects home values in the 88032 ZIP code will increase 0.8% over the next 12 months, bringing the projected average to approximately $195,031. This modest projected change should be factored into any investment analysis for properties in this area.
This report is part of the Dona Ana County market area in New Mexico. For a broader view of the housing market including rent data, market activity, and affordability analysis, see the full Dona Ana County report.
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Market Snapshot
88032 Housing Market at a Glance
Key metrics for the last 3 months with trend direction.
| Metric | Dec 2025 | Jan 2026 | Feb 2026 | 3-Mo Change |
|---|---|---|---|---|
| Avg Home Value | $196,057 | $194,552 | $193,483 | ▼ 1.3% |
| Single Family Value | $191,963 | $191,784 | $192,144 | ▲ 0.1% |
Home Values
88032 Home Value Trend
Historical home values for ZIP code 88032. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
Property Types
Home Values by Property Type in 88032
How different property types compare in this ZIP code.
All Homes
$193,483
Single Family
$192,144
Bottom Tier
$142,170
Top Tier
$237,471
Forecast
12-Month Home Value Forecast for 88032
Zillow projects home values in 88032 will increase 0.8% over the next year, reaching approximately $195,031.
Current Value
$193,483
Projected Change
+0.8%
▲ 0.8%
Projected Value
$195,031
Source: Zillow Home Value Forecast (ZHVF). Forecasts are not guarantees.
Data Sources and Methodology
Home value data for ZIP code 88032 comes from the Zillow Home Value Index (ZHVI), updated monthly. ZHVI measures the typical home value using Zillow's automated valuation model, smoothed and seasonally adjusted.
This report was last updated February 2026. Data is refreshed on the 17th of each month.
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