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County in New Mexico

Santa Fe County, New Mexico

Santa Fe County is a county in New Mexico with 156,105 residents, No. 3 of 33 by population. In Santa Fe County, the FHA loan limit for a one-unit home is $569,250, and a typical home is worth $446,300. To rent a 2-bedroom apartment at Fair Market Rent ($1,735 a month) without going over 30% of your income, you need to earn about $33.37 an hour.

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  • Typical home price

    $446,300

    +80% vs. New Mexico +34% vs. U.S.

    Half of owner-occupied homes are worth more and half are worth less.

    • Santa Fe
    • New Mexico
    • United States

    Source: U.S. Census Bureau, Average 2020–2024

  • Fair market rent, 2 bedrooms

    $1,735 a month

    +35% vs. New Mexico Same as the U.S.

    HUD's reference rent for a two-bedroom apartment, with basic utilities.

    • Santa Fe
    • New Mexico
    • United States

    Source: HUD, Fiscal year 2027

  • FHA limit 2026, 1 unit

    $569,250

    FHA high-cost area

    The most you can borrow with an FHA loan for a one-unit home here.

    • Santa Fe
    • Floor
    • Ceiling

    Source: HUD, 2026 data

  • Property tax

    0.48% of value per year

    −31% vs. New Mexico −49% vs. U.S.

    $2,152 a year for the typical owner

    • Santa Fe
    • New Mexico
    • United States

    Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$548,874
0.8% more than 12 months ago
Typical rent
$1,953 a month
0.6% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Data from October 2026

In short

What is housing like in Santa Fe County today?

With an FHA loan and the minimum down payment, a typical home would cost about $3,531 a month: 54% of the typical household income here. For that payment to be 28% of income, a household would need to earn about $151,307 a year; the typical income here is $79,071. The typical home value is 80% more than in New Mexico overall. The typical property tax is $2,152 a year (about 0.48% of home value), higher than in New Mexico. This is a high-cost area for FHA: the limit is above the national floor.

51% of renter households spend 30% or more of their income on housing.

Sources: U.S. Census Bureau (Average 2020–2024); HUD (2026 data).

Only here

What sets Santa Fe County apart

  1. Nearby, in Mora County, the typical home value is $122,600: 73% less than in Santa Fe County ($446,300).

  2. Among the neighboring counties, San Miguel County has the lowest typical rent ($823), 41% below the $1,389 in Santa Fe County.

  3. At $446,300, Santa Fe County ranks 2nd among the 31 counties in New Mexico with this figure for the highest typical home value.

  4. Santa Fe County has the 2nd highest typical rent of the 30 counties in New Mexico with this figure ($1,389).

  5. Santa Fe County has the 3rd highest typical household income of the 32 counties in New Mexico with this figure ($79,071).

  6. From 2020 to 2025, home prices in Santa Fe County rose 48% on FHFA's index, about the same as in New Mexico (50%).

Sources: U.S. Census Bureau (Average 2020–2024); FHFA (2025 data).

The homes here

Housing in Santa Fe County

What homes there are in Santa Fe County, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Santa Fe County, 6 in 10 homes are single-family detached houses, about the same as in New Mexico.

Year built

The typical home in Santa Fe County was built in 1989, 4 years after the typical one in New Mexico.

Homes in Santa Fe County are smaller: 59% have 3 bedrooms or more; in New Mexico, 64%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

The FHA limit for this county is $569,250: about 64% of owner-occupied homes in Santa Fe County are worth less, and the rest more.

Monthly rent with utilities

By rent, most homes in Santa Fe County cost less than HUD's 2-bedroom fair market rent ($1,735): about 67%.

With a mortgage

$1,911 a month

New Mexico: $1,564 a month

Without a mortgage

$533 a month

New Mexico: $451 a month

Owners with a mortgage

53%

New Mexico: 52%

The typical cost for an owner with a mortgage in Santa Fe County is $1,911 a month, more than in New Mexico ($1,564); without one, $533.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, the typical home value in Santa Fe County rose 53%; in New Mexico, it rose 45%.

The typical rent in Santa Fe County rose 33% over the same time; in New Mexico, it rose 26%.

The typical household income in Santa Fe County rose 29%: less than home values (+53%) and rent (+33%).

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureSanta Fe CountyNew MexicoUnited States
Rental vacancy 4.6%5.9%5.5%
Homeowner vacancy Unreliable estimate1.0%0.9%
More than one person per room 2.2%3.3%3.4%
People per household 2.172.482.53
Drive alone 68%74%69%
Carpool 8%10%9%
Public transit 1%1%3%
Walk or bike 3%2%3%
Work from home 18%12%15%
Other means 1%1%2%
Typical commute Unreliable estimate10 to 19 minutes20 to 29 minutes

The rental vacancy rate in Santa Fe County is 4.6%, lower than in New Mexico (5.9%).

Fewer households are short on space in Santa Fe County: 2.2% have more than one person per room; in New Mexico, 3.3%.

Households in Santa Fe County are smaller: 2.17 people on average; in New Mexico, 2.48.

Working from home is more common in Santa Fe County: 18%, against 12% in New Mexico.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month in Santa Fe County?

A typical home costs more than the typical income allows

We start with a typical home of $446,300, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 54% of the typical household income here, which is $79,071 a year. For that payment to be 28% of income, a household would need to earn about $151,307 a year.

Your numbers

Local data
$

Starts at the typical home value in Santa Fe County. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $15,621 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$3,531

at 7.18% · 30 years

Loan amount
$438,216
Total interest
$630,490
Paid off in
November 2056

Includes $7,537 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,845 a month

  • Tight

    $1,845 to $2,372 a month

  • Hard

    more than $2,372 a month

    Your payment · 54%

Compared with the typical household income in Santa Fe County ($79,071 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$3,531
Principal & interest$2,969
Property tax$179
Home insurance$186
FHA mortgage insurance (MIP)$197

You need at least $15,621 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

Buying a home

Buying a home in Santa Fe County

Here you'll see how prices have changed, how Santa Fe County compares with New Mexico and the country, and what you'd pay each month with four kinds of loans.

How have home prices changed?

According to the FHFA House Price Index, home prices in Santa Fe County rose 95% in the 10 years through 2025. FHFA's index follows the price of the same homes over the years.

Period Here New Mexico United States
In 2025 +0.8% +3.1% +2.9%
5 years (2020–2025) +48% +50% +47%
10 years (2015–2025) +95% +82% +85%
See each year's change

The index follows the prices of the same homes over time (sales and appraisals on loans bought or guaranteed by Fannie Mae and Freddie Mac). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Santa Fe County compared with New Mexico and the United States

Home value, rent and household income, side by side. "Typical" is the median: half are above it and half below.

Typical home value
  • Santa Fe $446,300
  • New Mexico $248,100
  • United States $332,700
Typical rent a month
  • Santa Fe $1,389
  • New Mexico $1,067
  • United States $1,413
Typical household income a year
  • Santa Fe $79,071
  • New Mexico $64,059
  • United States $80,734
See the full table
Santa Fe compared with New Mexico and the United States
MeasureHereNew MexicoU.S.
Residents156,1052,120,246334,922,499
Typical home value$446,300$248,100$332,700
Typical household income$79,071$64,059$80,734
Typical rent$1,389$1,067$1,413
Fair Market Rent (2 bedrooms)$1,735$1,282$1,750
Hourly wage to rent a 2-bedroom$33.37$24.65$33.65
Typical property tax$2,152$1,731$3,119
Effective tax rate0.48%0.7%0.94%
Households that own their home72%70%65%
Renters spending 30% or more on rent51%50%51%
FHA limit (1 unit)*$569,250$541,287$541,287

FHA limit: New Mexico shows the median of its counties; the United States, the national floor. Download CSV

Four ways to pay for a typical home in Santa Fe County

For a typical $446,300 home at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, the county's property tax, an example homeowners insurance and mortgage insurance when it applies.

Loan Monthly payment Down payment Loan amount Rate Mortgage insurance Cash to close Minimum score
FHA, 3.5% down $3,531 $15,621 $438,216 7.18% FHA MIP · $197 $29,010 580
Conventional, 5% down $3,449 $22,315 $423,985 7.18% PMI · $212 $35,704 620*
Conventional, 20% down, no PMI $2,783 $89,260 $357,040 7.18% None $102,649 620*
ITIN, 15% down (example) $3,196 $66,945 $379,355 8.18% None $80,334 Set by the lender
  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

Everything about buying in Santa Fe County: income, limits and help How much house can I afford? Closing costs

Loan limits

This is a high-cost area, so FHA limits in Santa Fe County are above the national floor. The limit is set for the whole metro area (Santa Fe, NM). If the loan you need is above these amounts, it doesn't fit FHA or it becomes a "jumbo" loan.

VA loans. If you have full VA entitlement, VA doesn't cap the loan amount. If you've used part of your entitlement, the calculation uses the county limit ($832,750 for one unit). VA loan limits (va.gov)

USDA loans. They're for homes in eligible rural areas and households with incomes within USDA's limit. Check whether the address and your income qualify on the official site. USDA eligibility (usda.gov)

Home type FHA limit Conforming limit
1 unit $569,250 $832,750
2 units $728,750 $1,066,250
3 units $880,900 $1,288,800
4 units $1,094,700 $1,601,750

Source: HUD, 2026 data · Source: FHFA, 2026 data

Taxes and risks

Property tax and flooding in Santa Fe County

Two costs that change a lot from place to place and that a house payment does include: property tax and, in risk zones, flood insurance.

Property tax

In Santa Fe County, the typical owner pays $2,152 a year: about 0.48% of the home's value. That is less than the rest of New Mexico and less than the national average.

  • Santa Fe 0.48%
  • New Mexico 0.70%
  • United States 0.94%

What New Mexico publishes 3 percent cap on the yearly increase in your home's taxable value (New Mexico Legislative Finance Committee ("Property Taxes in New Mexico" brief))

Exemptions and deadlines in New Mexico

Is there a flood risk?

According to FEMA, in Santa Fe County 0.9% of homes (609) are in a high-risk flood zone. Of those homes, 17% have NFIP flood insurance.

  • A high-risk zone (Special Flood Hazard Area) has a 1% or greater chance of flooding each year. (44 CFR 59.1)
  • If the home is in that zone and the loan comes from a regulated lender, federal law requires flood insurance for the life of the loan, in communities that take part in the NFIP. (42 U.S.C. 4012a)
  • Most homeowners insurance does not cover flood damage. (FEMA, FloodSmart)

Source: FEMA, As of August 3, 2026

Look up your address on FEMA’s map

Owning a home here

Owning a home in Santa Fe County

The natural hazards FEMA measures in Santa Fe County, a maintenance plan for your climate and what the trades earn in your area.

Risks to your home

FEMA, National Risk Index 1.20.0 (December 2025)

In Santa Fe County, FEMA rates the natural hazard risk as relatively moderate.

To rate it, FEMA weighs the expected loss with social vulnerability and community resilience.

In Santa Fe County, FEMA expects natural hazards to cause $48.9 million in losses a year, counting buildings, people and crops.

The hazard that would do the most damage to homes and buildings here is inland flooding: about $23.8 million a year.

Loss FEMA expects each year to homes and buildings, by hazard
  1. Inland floodingRelatively moderate $23.8 million a year
  2. WildfireRelatively high $12.1 million a year
  3. EarthquakeRelatively low $3.2 million a year
  4. TornadoVery low $182,516 a year
  5. Winter weatherRelatively high $79,655 a year

What it means for your home

The ratings are FEMA's own. FEMA says its data is meant for planning and does not replace a local study. Drought is not shown: FEMA counts its loss in crops only.

National Risk Index, version 1.20.0 (December 2025), retrieved November 6, 2026

FEMA notice: This product uses the Federal Emergency Management Agency's National Risk Index dataset API or downloadable datasets but is not endorsed by FEMA. The Federal Government or FEMA cannot vouch for the data or analyses derived from these data after the data have been retrieved from the Agency's website(s).

Climate and upkeep

Department of Energy (PNNL), 2021 IECC zones

The home energy code (IECC) puts Santa Fe County in zone 5B: cold.

The zone's number says how hot or cold it gets; the letter says how humid: A is moist, B is dry and C is marine.

  • Spring

    • Book the air conditioner's check-up before the heat: ENERGY STAR advises checking the cooling system in the spring, because contractors get busy once summer comes. ENERGY STAR (EPA)
    • Clean and repair the roof gutters. EPA

  • Summer

    • Seal the air ducts that run through the attic, crawlspace, basement or garage with duct mastic or foil tape, then wrap them in insulation. ENERGY STAR (EPA)
    • Check that the ground slopes away from the house, so water does not collect around the foundation. EPA

  • Fall

    • Book the heating check-up in the fall. If it runs on gas or oil, the technician should check the connections: faulty ones are a fire hazard. ENERGY STAR (EPA)
    • Seal air leaks and add insulation in the attic: ENERGY STAR says it lowers the chance of ice dams on the roof in snowy climates. ENERGY STAR (EPA)

  • Winter

    • Get the house ready for the cold with insulation, caulking and weather stripping, and learn how to keep pipes from freezing. Ready.gov (FEMA)
    • Put clear plastic film over the windows: it is inexpensive, cuts drafts, helps the house feel warmer in winter and reduces moisture on the glass. ENERGY STAR (EPA)

All year

  • Check the air filter every month, especially in heavy-use months. If it looks dirty, change it; change it at least every 3 months. ENERGY STAR (EPA)
  • Test the smoke alarms every month and replace their batteries at least once a year. USFA (FEMA)

Each task comes from the official page beside it. The spring air-conditioning and fall heating check-ups are the timing ENERGY STAR advises; the rest is a suggested order.

Climate zones by county, 2021 IECC

What the trades charge here

BLS, wages for May 2025

TradeTypical hourly wage8 in 10 earn between
Electricians$27.52$17.92 and $39.81
Plumbers, pipefitters and steamfitters$24.13$17.82 and $37.57
Heating, air conditioning and refrigeration mechanics$23.73$18.89 and $35.51
Roofers$21.68$15.82 and $28.02
Carpenters$28.57$21.79 and $40.89
Painters, construction and maintenance$23.00$21.23 and $35.99
Maintenance and repair workers, general$21.08$14.89 and $29.26

In the Santa Fe, NM area, half of electricians earn more than $27.52 an hour and half earn less; for a plumber, the typical figure is $24.13.

These are workers' hourly wages, not the price of a job.

Need help paying for a repair?

Renting

Renting in Santa Fe County

The typical rent in Santa Fe County is $1,389 a month. HUD also publishes a “fair market rent” by unit size: it's the one programs like Section 8 use.

51% of renter households in Santa Fe County spend 30% or more of their income on housing. 29% spend half or more.

Fair market rent by size

To pay the fair market rent without spending more than 30% of income, working full time (40 hours a week).

Size Fair rent a month Hourly wage Income needed per year
Studio $1,260 $24.23 $50,400
1 bedroom $1,413 $27.17 $56,520
2 bedrooms $1,735 $33.37 $69,400
3 bedrooms $2,134 $41.04 $85,360
4 bedrooms $2,280 $43.85 $91,200

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

Free help in Santa Fe County

Programs and counseling in Santa Fe County

There is 1 HUD-approved housing counseling agency in Santa Fe County. They can help you get ready to buy, with your credit, with rent, or if you've fallen behind on payments.

Official programs for the down payment and loans for buyers. Check which ones you might qualify for with your income and your county.

A street of new one-story houses in Santa Fe, New Mexico.

HUD counseling is free or low-cost

New Mexico down payment programs

  1. FirstDown

    New Mexico state agency fixed-rate second mortgage for the down payment and closing costs of first-time buyers, together with the FirstHome mortgage

    First-time buyers only. Run by Housing New Mexico (New Mexico Mortgage Finance Authority, MFA).

    Repayable Verified November 5, 2026

  2. HomeNow

    New Mexico state agency fixed $7,000 second mortgage for the down payment and closing costs of low-income first-time buyers; no monthly payments and forgivable after 10 years

    First-time buyers only. Run by Housing New Mexico (New Mexico Mortgage Finance Authority, MFA).

    Forgivable Verified November 5, 2026

  3. FirstDown Plus

    New Mexico state agency fixed $10,000 third loan at 0%, for the down payment only, added to FirstDown or HomeNow; repaid in monthly installments over 15 years

    First-time buyers only. Run by Housing New Mexico (New Mexico Mortgage Finance Authority, MFA).

    Repayable Verified November 5, 2026

Which programs do I qualify for? See all New Mexico programs

Help in Spanish in Santa Fe County

1 of the 1 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Public housing agencies

They run public housing and Section 8 vouchers (Housing Choice Vouchers) in this county.

  • Santa Fe Civic Housing Authority Public housing and Section 8 vouchers (505) 988-2859
  • Housing Authority of the County of Santa Fe Public housing and Section 8 vouchers (505) 992-3051

Free legal help

If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.

Find legal aid (lsc.gov)

Housing counseling nearby

These agencies have an office in Santa Fe County. The full list is on the New Mexico counselors page. Official HUD list. Confirm hours and fees with the agency before you go.

  • Homewise, Inc.

    1301 Siler Rd, Santa Fe · Spanish

    • Budget and credit workshops
    • Pre-purchase counseling
    • and 1 more
    (505) 983-9473
See every agency in New Mexico

Places

Cities in Santa Fe County

Each city has its own page with prices, rents and help. These are the largest.

See all 3 cities of Santa Fe County

Nearby counties

Each row compares its typical value, typical rent and FHA limit with Santa Fe County.

Read next

Guides that help here

We picked them by this county's numbers: what weighs most here is what's worth understanding first.

Frequently asked questions

What is the FHA loan limit in Santa Fe County in 2026?

Santa Fe County has an FHA limit of $569,250 for a one-unit home. For 2 units it's $728,750, for 3 it's $880,900 and for 4 it's $1,094,700. It's a high-cost area, so the limit is above the national floor.

What is the conforming loan limit in Santa Fe County?

Santa Fe County has a conforming limit of $832,750 for one-unit conventional loans in 2026. A bigger loan is a “jumbo” loan.

How much does a typical home cost in Santa Fe County?

The typical home value in Santa Fe County is $446,300 (Average 2020–2024, U.S. Census). Across New Mexico it's $248,100.

How much does it cost to rent in Santa Fe County?

Santa Fe County has a typical rent of $1,389 a month (Average 2020–2024, U.S. Census). HUD's fair market rent for a 2-bedroom apartment is $1,735 (Fiscal year 2027).

How much do you need to earn to rent a 2-bedroom apartment in Santa Fe County?

About $33.37 an hour working full time (2,080 hours a year), or $69,400 a year, so the fair market rent of $1,735 stays under 30% of income.

Sources: American Community Survey (Average 2020–2024); FHA mortgage limits (2026 data); Conforming loan limits (2026 data); Fair Market Rents (Fiscal year 2027); Income Limits (Fiscal year 2026); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (As of November 5, 2026); FHFA House Price Index (2025 data); Homes with flood insurance (As of August 3, 2026); National Risk Index (2025 data); IECC climate zones by county (2021 data); Occupational Employment and Wage Statistics (2025 data); Census Bureau cartographic boundary files (2024 data).