Market Intelligence · NM / Rio Rancho

Rio Rancho, NM 87124 Housing Market

The typical home value in Rio Rancho, NM 87124 is $348,597, up 0.5% over the past year. The median list price stands at $429,900, with homes spending a median of 64 days on market.

Updated September 2026Median value$349K

The median home value in Rio Rancho, NM 87124 is $349K as of September 2026, up 0.5% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 87124 range

$321K to $376K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+0.5% over 12 months

Sep 2025$347K

Low $347KHigh $350K

Sep 2026$349K

The numbers

What is the 87124 housing market like?

As of September 2026

Typical home value

$349K

0.5%YoY

Median list price

$430K

1.0%MoM

Days on market

12.3%MoM

Homes for sale

219

12.9%MoM

Price cuts

29.7%

34.4%MoM

New listings

26.0%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

87124 housing market forecast 2027

+1.8%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 87124 to rise 1.8% by September 2027.

Over the 12 months through September 2026, typical home values in 87124 rose 0.5%, per the Zillow Home Value Index.

Will home prices drop in 87124?

Zillow's forecast does not call for a drop: it expects typical home values in 87124 to rise 1.8% by September 2027, after a 0.5% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 87124 home prices compare?

87124$348,597
Rio Rancho$360,743
New Mexico$276,177
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Rio Rancho: 2 ZIPs; New Mexico: 153 ZIPs; United States: 26,262 ZIPs).

Context

In Rio Rancho, NM 87124, the typical home value is $350,072, up 0.5% over the past year. The median list price is $434,035, with 194 homes for sale and 100 new listings giving buyers fresh options but not an unlimited pool. A median days on market of 57 gives sellers some time, yet 22.1% of listings have taken a price cut. For a seller, the practical read is to price carefully from the start and expect negotiation if the home misses the mark.

Monthly payment

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Home price

Down payment20% · $69,719

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Common questions

What people ask us.

What is the typical home value in 87124?

The typical home value is $348,597, which has risen 0.5% over the past year.

How long do homes stay on the market in 87124?

The median days on market is 64 as of September 2026.

What share of homes have had price reductions?

As of September 2026, 29.7% of listings show a price cut.

Discover

Nearby ZIP markets.

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