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Sarah Mitchell
Compass Real Estate · ZIP 87301
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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87301 ZIP Code Housing Market
$247,450median sale price
What is the 87301 housing market like right now?
The median home sale price in ZIP code 87301 is $247,450, down 12.0% year-over-year. Homes sell in an average of 63 days with 34 active listings. The market is currently a leaning buyer's. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 87301 ZIP code a buyer's or seller's market?
ZIP code 87301 is currently a leaning buyer's and homes selling in about 63 days. How we determine this →
What are the latest 87301 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $247,450 |
| Median list price | $289,000 |
| Year-over-year price change | -12.0% |
| Average days on market | 63 days |
| Active inventory | 34 listings |
| Market condition | Leaning buyer's |
Source: Redfin · Updated monthly
The 87301 zip code, located in Gallup, NM, is currently classified as a leaning buyer's. The median sale price stands at $247,450, representing a -12.0% change year over year. Homes in this area spend an average of 63 days on the market before going under contract. There are currently 34 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 87301 sits in the Gallup, NM area, roughly 1.3 miles from downtown Gallup. Because home prices are set street by street, this ZIP can move differently from Gallup's citywide averages. The figures below reflect 87301 specifically — drawn from Redfin transactions, U.S. Census data for its 21,755 residents, and Zillow value estimates.
Homes sold
22
Last 12 weeks
Days on market
63
Average pace
Active listings
34
Sale-to-list
—
Below asking
What is driving the 87301 housing market?
The 87301 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a leaning buyer's, market dynamics influence how quickly homes sell and at what price relative to their listing.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 87301 have declined -12.0% compared to last year, which may present opportunities for buyers looking to enter the market at a lower price point. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 87301 stands at $225,408, which represents Zillow's estimate of the typical home value in the area. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 87301?
Population
21,755
Median income
$58,772/yr
Median age
34 years
Owner-occupied
52.6%
College grads
23.9%
Avg commute
21.61 min
What is it like living in 87301?
Zip code 87301 is home to approximately 21,755 residents. The median household income is $58,772 per year, which shapes the types of homes and amenities available in the area. With a median age of 34 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 52.6% of housing units are owner-occupied, showing a healthy mix of homeowners and renters that contributes to a diverse community.
About 23.9% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 21.61 minutes, which is close to the national average. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 87301.
Which public schools serve ZIP 87301?
19 schools tracked · 8,345 students
The largest public schools serving ZIP code 87301 by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
MIYAMURA HIGH SCHOOL
Grades 9-12 · 1,387 students
GALLUP HIGH
Grades 9-12 · 994 students
HOZHO ACADEMY
Grades K-10 · 685 students
JOHN F. KENNEDY MIDDLE
Grades 6-8 · 656 students
CHIEF MANUELITO MIDDLE
Grades 6-8 · 616 students
JEFFERSON ELEMENTARY
Grades PK-5 · 473 students
DEL NORTE ELEMENTARY
Grades PK-5 · 438 students
GALLUP MIDDLE
Grades 6-8 · 423 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Frequently asked questions about 87301
What is the median home price in 87301?
The current median sale price in 87301 is $247,450, based on recent Redfin transaction data. Prices have changed -12.0% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 87301 a buyer's or seller's market?
The 87301 zip code is currently classified as a leaning buyer's. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population of zip code 87301?
Zip code 87301 has a population of approximately 21,755 residents. The median household income is $58,772 per year. About 52.6% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 87301?
Properties Incorporated provides comprehensive data for 87301 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 87301 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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