dynamic.RE
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An appreciation-lean market without the demand pressure to back it. The rent math runs thin.
What would change this read: a price correction (median already +2.6% YoY) or rent growth lifting rent-to-price toward 0.8%/mo would move this ZIP toward a cash-flow story. inventory, +34.7% YoY, is the number to watch.
The median listing price is up 2.6% YoY while the median home got down 0.5% bigger, so value per square foot is down 3.1%.
Min/max come from the active-listing pool; the median comes from Realtor's separate listing set — the two are not subsets of each other, so the median's position relative to the tiles above should not be read literally.
At the median, a $510K purchase rents for $1,550/mo: 0.30% of price per month against the 1% rule's 1.00%.
Not shown: Studio (rent only, no matching sale price), 5 BR (sale only, no matching rent).
Sales here take about 67 days longer to go under contract than rentals (median across 3 property types).
Not shown: Apartment (rented here, not sold), Condo (sold here, not rented), Land (sold here, not rented).
U.S. Census ACS characteristics for ZIP 87104 itself, not its parent county.
Renters hold 34.7% of this ZIP's 5,811 occupied households, on a median household income of $75K.
| Measure | ZIP 87104 | Bernalillo County | Difference |
|---|---|---|---|
| Median Household Income | $75K | $69K | +$6K |
| Below Poverty Level | 12.6% | 15.2% | -2.6% |
| Median Age | 39.60 | 39.50 | +0.10 |
| Total Population | 12,853 | 673,930 | -- |
| Avg Household Size | 2.20 | 2.32 | -0.12 |
| Owner-Occupied | 65.3% | 64.5% | +0.7% |
| Worked From Home | 19.1% | 14.9% | +4.2% |
| Mean Commute | 18.10 | 22.90 | -4.80 |
Higher or lower is not itself good or bad — it describes the neighborhood, not the investment.
ZIP-level figures come from ZIP Code Tabulation Areas, which approximate but do not exactly match USPS ZIP codes. A missing value is suppressed or unavailable at this sample size, not zero. Estimates for 2019–2020 use the 2010 ZCTA boundaries and 2021–2024 the 2020 ones, so a step between those two years may be a boundary change rather than real movement.
County population is down 0.1% to 673,930: residents under 18 are down 1.8% and those 65 and over are up 2.8%.
County median household income is $69K, 15.2% of residents are below the poverty level, 14.9% work from home.