The story of this market
The typical home in ZIP 87002 sells for about $185,100, or $115 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 65 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,150 a month.
ZIP 87002 — Belen
The housing market in 87002 remains stable, characterized by moderate inventory levels and steady demand from local buyers. Prices have seen modest year-over-year growth, reflecting the area's affordability relative to the broader Albuquerque metro market. Market conditions are currently balanced, with well-priced homes moving at a consistent pace.
This ZIP is well-suited for family buyers and commuters seeking more affordable housing options compared to the Albuquerque core, while maintaining access to regional employment hubs.
Median prices moved up 2.1% year over year.
Homes spend a median of 65 days on market with 3.2 months of supply — a fast-moving market.
18% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.2% · poverty 14.8% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 87002, Valencia County NM
Crime rates in the Belen area are generally consistent with regional averages for Valencia County, though property crime remains a primary concern for local law enforcement.
Schools serving the 87002 area are primarily part of the Belen Consolidated School District, which generally receives moderate performance ratings compared to state benchmarks.
The area faces moderate risks related to high winds and occasional flash flooding, typical of the Rio Grande Valley, with standard insurance requirements for flood zones.
Economic momentum is driven by its role as a bedroom community for the Albuquerque metro area, with ongoing interest in residential development and local small-business expansion.
Property taxes are assessed by Valencia County based on local millage rates, which include school district levies and municipal taxes for the City of Belen.
Commuters typically utilize I-25 for travel toward the Albuquerque employment core, with average commute times reflecting the distance from the city center.
The area offers access to the Rio Grande for outdoor activities, local parks, and proximity to regional trails and golf courses in the surrounding valley.
The rental market is characterized by moderate demand and limited inventory, with rents trending upward in line with broader regional inflation.
The local economy is supported by retail, local government, and the transportation sector, with many residents commuting to the Albuquerque metro area for employment.
The area is served by I-25 and the Rail Runner Express, providing transit connectivity to Albuquerque and Santa Fe.
Development is focused on infill residential projects and the expansion of commercial services along the main thoroughfares.
The Valencia County Assessor manages property valuations, with assessments typically updated annually based on market sales data.
Parcels are subject to Belen Consolidated School District taxes and various local utility district assessments.
Property insurance premiums are influenced by regional wildfire and wind risk factors, with standard coverage available through major carriers.
New Mexico has seen modest net domestic migration, with growth concentrated in suburban areas like those surrounding Albuquerque.
New Mexico is a judicial foreclosure state, requiring court intervention for the foreclosure process.
Sellers are required to provide a comprehensive property disclosure statement detailing known material defects.
Data retrieved from data.census.gov ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Fat Sats Bar and Grill4.214.9 mi
- Harvey House Museum4.612.9 mi
- Whitfield Wildlife Conservation Area4.611.9 mi
- Whitfield Wildlife Conservation Area4.611.9 mi
- Tierra Del Sol Golf Club3.910.4 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Historic landmark showcasing the railroad history of the region.
Local community park offering recreational space and playgrounds.
Key-figure check: median price corroborated by the published ten-year series (2025) (within 12.5%).