ZIP Code Market Report
87506 — Santa Fe, NM
Data through February 2026 · Updated monthly
Avg Home Value
$1,080,943
▲ 1.6% year-over-year
Month-over-Month
-0.2%
▼ 0.2%
Single Family
$1,122,593
Condo / Co-op
$632,476
The average home value in the 87506 ZIP code (Santa Fe, New Mexico) is $1,080,943 as of February 2026. Home prices are rising, up 1.6% compared to last year.
A 3-bedroom home in 87506 is valued at $1,157,645. 1-bedroom units start around $411,679. Single-family homes average $1,122,593, while condos average $632,476.
The market in 87506 has a $1,371,184 spread between bottom-tier homes at $501,351 and top-tier homes at $1,872,535. 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 87506 ZIP code will increase 0.4% over the next 12 months, bringing the projected average to approximately $1,085,266. This modest projected change should be factored into any investment analysis for properties in this area.
This report is part of the Santa Fe 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 Santa Fe County report.
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Market Snapshot
87506 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 | $1,085,796 | $1,083,436 | $1,080,943 | ▼ 0.4% |
| Single Family Value | $1,116,523 | $1,119,908 | $1,122,593 | ▲ 0.5% |
Home Values
87506 Home Value Trend
Historical home values for ZIP code 87506. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
By Bedroom
What Homes Cost in 87506
Median home values by bedroom count in this ZIP code.
| Bedrooms | Median Value |
|---|---|
| 1 Bedroom | $411,679 |
| 2 Bedrooms | $599,300 |
| 3 Bedrooms | $1,157,645 |
| 4 Bedrooms | $1,453,767 |
Property Types
Home Values by Property Type in 87506
How different property types compare in this ZIP code.
All Homes
$1,080,943
Single Family
$1,122,593
Condo / Co-op
$632,476
Bottom Tier
$501,351
Top Tier
$1,872,535
Forecast
12-Month Home Value Forecast for 87506
Zillow projects home values in 87506 will increase 0.4% over the next year, reaching approximately $1,085,266.
Current Value
$1,080,943
Projected Change
+0.4%
▲ 0.4%
Projected Value
$1,085,266
Source: Zillow Home Value Forecast (ZHVF). Forecasts are not guarantees.
Data Sources and Methodology
Home value data for ZIP code 87506 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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