The story of this market
The typical home in ZIP 87048 sells for about $707,350, or $235 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 28 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,450 a month.
ZIP 87048 — Corrales
The housing market in 87048 remains stable with high demand for large-lot residential properties. Prices have seen moderate growth, driven by limited inventory and the area's appeal as a quiet, rural-adjacent suburb of Albuquerque. Some metrics, such as specific permit counts, were not available at the ZIP level and are omitted.
This ZIP is best suited for families and those seeking a rural, quiet lifestyle who are willing to commute to Albuquerque for work.
Median prices moved up 2.1% year over year.
Homes spend a median of 28 days on market with 4.5 months of supply — a fast-moving market.
12% of listings have cut prices · homes sell at 98.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.8% · poverty 7.2% — 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 12.0%/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 12.0%/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 87048, Valencia County NM
Crime rates in the Peralta area are generally lower than the regional average for the Albuquerque metro, with property crime being the primary concern.
Schools serving the area are part of the Los Lunas Schools district, which generally maintains moderate performance ratings compared to state averages.
The area faces moderate risks related to wildfire and wind events, typical of the high-desert environment in Valencia County.
Economic momentum is driven by its status as a bedroom community for Albuquerque, with limited commercial development inside the ZIP itself.
Property taxes are assessed by Valencia County based on the state's valuation formula, with additional levies for local school and utility districts.
Commuters typically drive 25-35 minutes via I-25 to reach major employment hubs in Albuquerque.
Residents have access to local parks and rural trails, with proximity to the Rio Grande Bosque for outdoor activities.
The rental market is limited in depth, consisting mostly of single-family homes with low vacancy pressure and stable rent growth.
The economy is largely tied to the broader Albuquerque metro area, with residents commuting for employment in government, healthcare, and education.
Transportation is heavily reliant on private vehicles, with I-25 serving as the primary corridor for regional access.
Development is primarily focused on low-density residential expansion rather than large-scale commercial projects.
Valencia County Assessor manages property valuations, typically reassessing based on market sales data.
Parcels are subject to Los Lunas Schools district taxes and local utility district assessments.
Property insurance premiums are influenced by regional wildfire and wind risk factors common to central New Mexico.
New Mexico is a judicial foreclosure state requiring court intervention for the foreclosure process.
Sellers are required to provide a property disclosure statement covering known material defects.
Data retrieved from data.census.gov for ZCTA 87048.
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.
- Urban Air Trampoline and Adventure Park48.1 mi
- Cliff's Amusement Park4.37.1 mi
- Hinkle Fun Center4.412.3 mi
- Round1 Bowling & Arcade - Albuquerque4.29.8 mi
- Electric Playhouse4.210.2 mi
- Sandia Resort & Casino4.23.8 mi
- Isleta Amphitheater4.417 mi
- Rio Rancho Events Center4.36 mi
- Albuquerque Convention Center4.311 mi
- RGCU Field at Isotopes Park4.712.1 mi
- Sandia Peak Tramway4.78.6 mi
- ABQ BioPark Zoo4.511.8 mi
- Cinemark Century Rio Plex 24 and XD4.57.1 mi
- ABQ BioPark Aquarium4.611 mi
- Explora Science Center and Children's Museum of Albuquerque4.810.5 mi
- Sandia Peak Tramway4.78.6 mi
- Petroglyph National Monument4.611.3 mi
- ABQ BioPark - Botanic Garden4.711 mi
- North Domingo Baca Park4.75.5 mi
- Old Town Plaza4.610.6 mi
- Sandia Resort & Casino4.23.8 mi
- Topgolf Albuquerque4.47.8 mi
- Ladera Golf Course4.29.9 mi
- Arroyo Del Oso Golf Course4.47.7 mi
- Paradise Hills Golf Course4.35 mi
- Cottonwood Mall4.23.9 mi
- Coronado Center4.39.8 mi
- El Super4.111.6 mi
- Smith's411.6 mi
- Albuquerque International Sunport4.414.1 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Provides access to trails and riverfront scenery.
Local recreational space for community events.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.