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City · 37,120 residents · Bernalillo County, New Mexico

South Valley , New Mexico

In South Valley, a typical home is worth $224,300 and typical rent is $954 a month. Compared with all of Bernalillo County, the typical home value is 23% lower, typical rent is 17% lower, and the share of households that own their home is 10 points higher.

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  • Typical home value

    $224,300

    23% below the county

    10% below New Mexico

    • South Valley
    • Bernalillo
    • New Mexico

  • Typical rent

    $954a month

    17% below the county

    11% below New Mexico

    • South Valley
    • Bernalillo
    • New Mexico

  • Typical household income

    $58,224a year

    16% below the county

    9% below New Mexico

    • South Valley
    • Bernalillo
    • New Mexico

  • Households that own their home

    74%

    10 points above the county

    4 points above New Mexico

    • South Valley
    • Bernalillo
    • New Mexico

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

South Valley is in Bernalillo County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Bernalillo County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets South Valley apart

What this place has that others do not, from public data, most unusual first.

  1. The typical home in South Valley is worth $224,300, 23% less than in Bernalillo County as a whole ($292,900).

  2. The typical rent in South Valley is $954 a month, 17% less than in Bernalillo County as a whole ($1,144).

  3. The typical household income in South Valley is $58,224, 16% less than in Bernalillo County as a whole ($69,473).

  4. 74% of households in South Valley own their home, against 65% in Bernalillo County.

  5. 13% of households in South Valley have no internet at home (7% in Bernalillo County).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in South Valley

What homes there are in South Valley, 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

The detached house rules in South Valley: 74% of homes, more than in Bernalillo County (64%).

There are more mobile homes here than in Bernalillo County: 15% of homes, against 5%.

Year built

The typical home in South Valley was built in 1970, 12 years before the typical one in Bernalillo County.

By size, homes in South Valley look like those in Bernalillo County: 61% have 3 bedrooms or more.

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

By price, most homes in South Valley sit under the FHA limit for Bernalillo County ($541,287): about 95%.

Monthly rent with utilities

With a mortgage

$1,363 a month

Bernalillo County: $1,615 a month

Without a mortgage

$458 a month

Bernalillo County: $538 a month

Owners with a mortgage

56%

Bernalillo County: 63%

Owning costs less in South Valley: with a mortgage, the typical cost is $1,363 a month; in Bernalillo County, $1,615. Without one, $458.

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

The typical home value in South Valley rose 52% since 2015–2019, more than in Bernalillo County (47%).

The typical rent in South Valley rose 35% over the same time; in Bernalillo County, it rose 31%.

While home values in South Valley changed +52% and rent +35%, the typical household income rose 47%.

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

MeasureSouth ValleyBernalillo CountyNew MexicoUnited States
Rental vacancy Unreliable estimate5.6%5.9%5.5%
Homeowner vacancy Unreliable estimate0.7%1.0%0.9%
More than one person per room 4.5%2.7%3.3%3.4%
People per household 2.762.322.482.53
Drive alone 76%71%74%69%
Carpool 14%10%10%9%
Public transit Unreliable estimate1%1%3%
Walk or bike Unreliable estimate3%2%3%
Work from home 8%15%12%15%
Other means Unreliable estimate1%1%2%
Typical commute 20 to 29 minutes20 to 29 minutes10 to 19 minutes20 to 29 minutes

In South Valley, 4.5% of households live with more than one person per room, against 2.7% in Bernalillo County.

Households in South Valley are bigger: 2.76 people on average; in Bernalillo County, 2.32.

Carpooling is common in South Valley: 14% of workers get to work that way, against 10% in Bernalillo County.

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 for a home in South Valley?

A typical home costs more than the typical income allows

We start with a typical home in South Valley, worth $224,300, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 37% of the typical household income in South Valley, which is $58,224 a year. For that payment to be 28% of income, a household would need to earn about $77,566 a year.

The calculator's FHA and conventional loan limits are those of all of Bernalillo County.

Your numbers

Local data
$

Starts at the typical home value in South Valley. 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 $7,851 (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

$1,810

at 7.18% · 30 years

Loan amount
$220,237
Total interest
$316,869
Paid off in
November 2056

Includes $3,788 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,359 a month

  • Tight

    $1,359 to $1,747 a month

  • Hard

    more than $1,747 a month

    Your payment · 37%

Compared with the typical household income in South Valley ($58,224 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,810
Principal & interest$1,492
Property tax$125
Home insurance$94
FHA mortgage insurance (MIP)$99

You need at least $7,851 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.

The city and its county

South Valley and Bernalillo County

South Valley is in Bernalillo County, New Mexico. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

South Valley's own numbers

Typical home value
$224,300
Typical monthly rent
$954
Typical yearly household income
$58,224
Households that own their home
74%
Effective property tax rate
0.67%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Bernalillo County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,384
Price change over 5 years (FHFA)
+53%
Homes in a high flood-risk zone
0.9%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Bernalillo County.

Everything about Bernalillo County

Buying

Buying a home in South Valley

A typical home in South Valley is worth $224,300: 23% below the county and 10% below New Mexico. With the typical household income in South Valley ($58,224 a year), a typical home costs 3.9 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • South Valley 3.9 years
  • Bernalillo 4.2 years
  • New Mexico 3.9 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Bernalillo County

According to FHFA’s house price index, home prices in Bernalillo County rose 86% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Bernalillo County.

Period County New Mexico U.S.
Last year (2025) +2.9% +3.1% +2.9%
5 years (2020–2025) +53% +50% +47%
10 years (2015–2025) +86% +82% +85%

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

South Valley next to Bernalillo County, New Mexico and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • South Valley $224,300
  • Bernalillo $292,900
  • New Mexico $248,100
  • United States $332,700
Typical monthly rent
  • South Valley $954
  • Bernalillo $1,144
  • New Mexico $1,067
  • United States $1,413
Typical yearly household income
  • South Valley $58,224
  • Bernalillo $69,473
  • New Mexico $64,059
  • United States $80,734
See the full table
South Valley next to Bernalillo County and New Mexico
Measure South Valley Bernalillo County New Mexico U.S.
Typical home value $224,300 $292,900 $248,100 $332,700
Typical monthly rent $954 $1,144 $1,067 $1,413
Typical yearly household income $58,224 $69,473 $64,059 $80,734
Households that own their home 74% 65% 70% 65%
Typical yearly property tax $1,508 $2,629 $1,731 $3,119
Effective property tax rate 0.67% 0.9% 0.7% 0.94%
Renters with high rent for their income 48% 52% 50% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Bernalillo County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in South Valley

For a typical $224,300 home in South Valley, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, South Valley's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,810a month

    Least cash to close
    Down payment
    $7,851
    Cash to close
    $14,580
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $99

  • Conventional, 5% down $1,769a month

    Down payment
    $11,215
    Cash to close
    $17,944
    Rate
    7.18%
    Mortgage insurance
    PMI · $107

  • Conventional, 20% down, no PMI $1,434a month

    Down payment
    $44,860
    Cash to close
    $51,589
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,642a month

    Down payment
    $33,645
    Cash to close
    $40,374
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • 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.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for South Valley and for Bernalillo County.

Property tax

Effective rate in South Valley

0.67%of the home’s value each year

$1,508 a year for the typical owner in South Valley.

  • South Valley 0.67%
  • Bernalillo 0.9%
  • New Mexico 0.7%

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

Flood risk in Bernalillo County

FEMA does not publish these numbers by city: they are for all of Bernalillo County.

Homes in the high-risk zone
0.9%
2,123
Of those, with NFIP insurance
29%
County New Mexico U.S.
Homes in the high-risk zone 0.9% 5.7% 3.5%
Of those, with NFIP insurance 29% 16% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in South Valley

Typical rent in South Valley is $954 a month: 17% below the county. In South Valley, 48% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Bernalillo County, by unit size. To pay the 2-bedroom one ($1,384 a month) without spending more than 30% of your income, you would need to earn $26.62 an hour working full time.

HUD fair market rent for all of Bernalillo County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $977 $18.79 $39,080
1 bedroom $1,112 $21.38 $44,480
2 bedrooms $1,384 $26.62 $55,360
3 bedrooms $1,902 $36.58 $76,080
4 bedrooms $2,242 $43.12 $89,680

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

By ZIP code

Fair market rent by ZIP code in South Valley

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). South Valley is in ZIP code 87105.

For 2 bedrooms it is $1,320: $64 less than the fair market rent for Bernalillo County ($1,384).

  • 87105 $1,320$1,840

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for South Valley when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Free help

Help to buy or rent in South Valley

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There are 4 HUD-approved agencies with an office in Bernalillo County; 1 says it serves in Spanish.

A man leans over the armchair to help a teenage girl with her book.

HUD counseling is free or low-cost

Assistance programs in South Valley

No down payment, repair or rent-help program on our list is for South Valley or Bernalillo County. The ones below are statewide in New Mexico: they work in South Valley the same as in the rest of the state.

Which programs do I qualify for? All programs in New Mexico

  • FirstDown

    Statewide in New Mexico

    New Mexico state agency fixed-rate second mortgage for the down payment and closing costs of first-time buyers, together with the FirstHome mortgage. Offered by Housing New Mexico (New Mexico Mortgage Finance Authority, MFA).

    Repayable

    See the program Official page

  • HomeNow

    Statewide in New Mexico

    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. Offered by Housing New Mexico (New Mexico Mortgage Finance Authority, MFA).

    Forgivable

    See the program Official page

  • FirstDown Plus

    Statewide in New Mexico

    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. Offered by Housing New Mexico (New Mexico Mortgage Finance Authority, MFA).

    Repayable

    See the program Official page

Housing counselors near South Valley

The HUD-approved agencies closest to the center of South Valley, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • United South Broadway Corporation

    1500 Walter St SE, Albuquerque · 5 miles away

    • Mortgage delinquency and default
    (505) 764-8867

  • Homewise, Inc.

    500 2nd St. SW, Albuquerque · 5 miles away · Spanish

    Also serves in American Sign Language (ASL).

    • Budget and credit workshops
    • Pre-purchase counseling
    • and 1 more
    (505) 243-6566

  • Tiwa Lending Services

    117A Tribal Road 40, Isleta · 7 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    (505) 916-0556

Every agency in Bernalillo County All counseling agencies in New Mexico

Help in Spanish near South Valley

1 of the 3 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.

Housing authorities of South Valley

HUD’s record names them for South Valley or Bernalillo County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Bernalillo County Housing Department Public housing and Section 8 vouchers (505) 314-0200

One other authority has an office in Bernalillo County: see the list Source: HUD

Cities

Other cities in Bernalillo County

These cities are also in Bernalillo County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Bernalillo County Housing in New Mexico

Nearby cities

The cities closest to South Valley, with the typical home value.

Neighboring counties

If Bernalillo County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in South Valley.

All guides
A mother and her daughters smile together on a mountain trail with a snowy peak behind them.

Questions

Housing questions about South Valley

Short answers with the numbers for South Valley and all of Bernalillo County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in South Valley?

The typical home value in South Valley is $224,300, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Bernalillo County it is $292,900.

How much does it cost to rent in South Valley?

Typical rent in South Valley is $954 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Bernalillo County is $1,384.

What is the FHA loan limit in South Valley?

South Valley uses the FHA limit for all of Bernalillo County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in South Valley?

The typical homeowner in South Valley pays $1,508 a year, according to the U.S. Census Bureau. That is 0.67% of the home’s value; in Bernalillo County, the rate is 0.9%.

Where can I find free help to buy or rent in South Valley?

There are 4 HUD-approved counseling agencies with an office in Bernalillo County. 1 says it serves in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).