ZIP Code Market Report
88346 — Ruidoso Downs, NM
Data through February 2026 · Updated monthly
Avg Home Value
$233,337
▲ 4.9% year-over-year
Month-over-Month
+0.9%
▲ 0.9%
Single Family
$230,701
Condo / Co-op
$214,956
The average home value in the 88346 ZIP code (Ruidoso Downs, New Mexico) is $233,337 as of February 2026. Home prices are rising, up 4.9% compared to last year.
The market in 88346 has a $174,833 spread between bottom-tier homes at $160,064 and top-tier homes at $334,898. Bottom-tier properties represent the primary opportunity range for real estate investors using the 70% rule, fix-and-flip, or BRRRR strategies.
This report is part of the Lincoln 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 Lincoln County report.
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Market Snapshot
88346 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 | $228,997 | $231,363 | $233,337 | ▲ 1.9% |
| Single Family Value | $223,424 | $226,446 | $230,701 | ▲ 3.3% |
Home Values
88346 Home Value Trend
Historical home values for ZIP code 88346. 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 88346
How different property types compare in this ZIP code.
All Homes
$233,337
Single Family
$230,701
Condo / Co-op
$214,956
Bottom Tier
$160,064
Top Tier
$334,898
Data Sources and Methodology
Home value data for ZIP code 88346 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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