Las Cruces, NM · New Mexico
Doña Ana County
ZIP 88021
221,665 residents801 permits TTM$55,663 median HHI23 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$205,400
ACS 5-Year
Cap rate proxy
5.3%
FMR × 0.65 ÷ Home Value
Rent-to-income
19.5%
HUD FMR ÷ ACS HHI
Net migration
+1.45%
IRS SOI
Permits (TTM)
801
Census BPS
Climate risk
96.1
FEMA NRI (0–100)
ZIP 88021
Median home value
—
Gross yield
—
Cap rate
4.7%
Rent gap
—
Affordability
P/I: 4.2R/I: —
Section 8 detail
SAFMR: —Rent: —Gap: —
ZIP code breakdown23 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 87937 | — | — | — | 6.5% | — |
| 87941 | — | — | — | 6.2% | — |
| 88048 | — | — | — | 5.4% | — |
| 87936 | — | — | — | 5.3% | — |
| 88002 | — | — | — | 5.3% | — |
Ranked by composite score
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Demographics
Owner-occupied
65.3%
Census ACS
Vacancy rate
8.6%
Census ACS
Bachelor's degree +
31.4%
Census ACS
Rent burdened
48.0%
Census ACS (>30% income)
Median age
34.0
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026