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Sarah Mitchell
Compass Real Estate · ZIP 88005
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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88005 ZIP Code Housing Market
$289,750median sale price
What is the 88005 housing market like right now?
The median home sale price in ZIP code 88005 is $289,750, up 9.3% year-over-year. Homes sell in an average of 42 days with 69 active listings. The market is currently a balanced market. (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 88005 ZIP code a buyer's or seller's market?
ZIP code 88005 is currently a balanced market and homes selling in about 42 days. How we determine this →
What are the latest 88005 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $289,750 |
| Median list price | $305,000 |
| Year-over-year price change | +9.3% |
| Average days on market | 42 days |
| Active inventory | 69 listings |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
The 88005 zip code, located in Picacho Hills, NM, is currently classified as a balanced market. The median sale price stands at $289,750, representing a +9.3% change year over year. Homes in this area spend an average of 42 days on the market before going under contract. There are currently 69 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 88005 sits in the Picacho Hills, NM area, roughly 9 miles from downtown Picacho Hills. Because home prices are set street by street, this ZIP can move differently from Picacho Hills's citywide averages. The figures below reflect 88005 specifically — drawn from Redfin transactions, U.S. Census data for its 27,509 residents, and Zillow value estimates.
Homes sold
62
Last 12 weeks
Days on market
42
Average pace
Active listings
69
Sale-to-list
—
Below asking
What is driving the 88005 housing market?
The 88005 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a balanced market, 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 88005 have increased +9.3% compared to last year, suggesting continued demand and potential for further appreciation. 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 88005 stands at $278,433, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $1,118 per month. This gives a price-to-rent ratio of approximately 20.8, which indicates that renting may be more cost-effective than buying in the short term, though long-term appreciation could shift that calculus. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 88005?
Population
27,509
Median income
$54,452/yr
Median age
37.3 years
Owner-occupied
60.8%
College grads
32.1%
Avg commute
18.7 min
What is it like living in 88005?
Zip code 88005 is home to approximately 27,509 residents. The median household income is $54,452 per year, which shapes the types of homes and amenities available in the area. With a median age of 37.3 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 60.8% of housing units are owner-occupied, indicating a stable, ownership-oriented community where residents have a vested interest in maintaining property values and neighborhood quality.
About 32.1% 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 18.7 minutes, which is shorter than the national average and suggests good proximity to employment centers. 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 88005.
Which public schools serve ZIP 88005?
12 schools tracked · 3,787 students
The largest public schools serving ZIP code 88005 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.
ZIA MIDDLE
Grades 6-8 · 626 students
TOMBAUGH ELEMENTARY
Grades PK-5 · 584 students
JORNADA ELEMENTARY
Grades PK-5 · 453 students
MAC ARTHUR ELEMENTARY
Grades PK-5 · 352 students
ALAMEDA ELEMENTARY
Grades PK-5 · 336 students
MESILLA PARK ELEMENTARY
Grades PK-5 · 330 students
MESILLA ELEMENTARY
Grades PK-5 · 317 students
J PAUL TAYLOR ACADEMY
Grades K-8 · 200 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 88005
What is the median home price in 88005?
The current median sale price in 88005 is $289,750, based on recent Redfin transaction data. Prices have changed +9.3% 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 88005 a buyer's or seller's market?
The 88005 zip code is currently classified as a balanced market. 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 88005?
Zip code 88005 has a population of approximately 27,509 residents. The median household income is $54,452 per year. About 60.8% 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 88005?
Properties Incorporated provides comprehensive data for 88005 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 88005 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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