ZIP Code Market Report
87701 — Las Vegas, NM
Data through February 2026 · Updated monthly
Avg Home Value
$231,954
▲ 8.6% year-over-year
Month-over-Month
+1.3%
▲ 1.3%
Single Family
$225,145
Condo / Co-op
--
The average home value in the 87701 ZIP code (Las Vegas, New Mexico) is $231,954 as of February 2026. Home prices are rising, up 8.6% compared to last year.
A 3-bedroom home in 87701 is valued at $255,049.
The market in 87701 has a $139,806 spread between bottom-tier homes at $172,763 and top-tier homes at $312,569. 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 87701 ZIP code will increase 1.8% over the next 12 months, bringing the projected average to approximately $236,129. This modest projected change should be factored into any investment analysis for properties in this area.
This report is part of the San Miguel 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 San Miguel County report.
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Market Snapshot
87701 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 | $226,172 | $229,043 | $231,954 | ▲ 2.6% |
| Single Family Value | $213,847 | $219,826 | $225,145 | ▲ 5.3% |
Home Values
87701 Home Value Trend
Historical home values for ZIP code 87701. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
By Bedroom
What Homes Cost in 87701
Median home values by bedroom count in this ZIP code.
| Bedrooms | Median Value |
|---|---|
| 2 Bedrooms | $201,754 |
| 3 Bedrooms | $255,049 |
Property Types
Home Values by Property Type in 87701
How different property types compare in this ZIP code.
All Homes
$231,954
Single Family
$225,145
Bottom Tier
$172,763
Top Tier
$312,569
Forecast
12-Month Home Value Forecast for 87701
Zillow projects home values in 87701 will increase 1.8% over the next year, reaching approximately $236,129.
Current Value
$231,954
Projected Change
+1.8%
▲ 1.8%
Projected Value
$236,129
Source: Zillow Home Value Forecast (ZHVF). Forecasts are not guarantees.
Data Sources and Methodology
Home value data for ZIP code 87701 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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