Real Estate Investing in Belen, New Mexico (87002)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 87002 (Belen, NM)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 17.1% of homes vacant — above national norms.
What’s happening in Belen, NM (87002)?
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Market Analysis: 87002 Belen
The 87002 ZIP in Belen, NM is a local-operator market. Outside capital chasing a $270K entry has to pair deep knowledge with the discount.
Rent of $1,100/mo on a $270K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 87002 sits below the stated 0.0% once reality is priced in.
Regionally, 87002 sits on the difficult end of the NM spectrum. The worth a close look for read — for disciplined operators — is that pricing reflects the difficulty.
Demographically, 87002 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
The 87002 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Belen:
Property Strategy for 87002
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $199,953 | $1,200 | 4.3% | +12.7% | $99,977 |
| 3BR | $270,427 | $1,680 | 4.5% | +11.0% | $90,142 |
| 4BR | $326,640 | $1,990 | 4.4% | +9.2% | $81,660 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 87002 Compare?
| Metric | 87002 | Belen | Albuquerque, NM | New Mexico |
|---|---|---|---|---|
| Home Value | $269,869 | $269,869 | N/A | $308,799 |
| 5-Year CAGR | 6.4% | 6.4% | N/A | 7.3% |
| Avg Rent | $1,100 | $1,100 | N/A | - |
| Cap Rate | 3.2% | 3.2% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 87002 (Belen, NM). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $269,869 |
| Monthly Rent | $1,100 |
| Price-to-Rent | 20.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.9% |
| Cap Rate | 3.2% |
| 5-Year IRR | 9.5% |
📈 Home Appreciation
| 1-Year | +4.0% ▲ |
| 3-Year CAGR | +4.5% ▲ |
| 5-Year CAGR | +6.4% ▲ |
| 10-Year CAGR | +8.8% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.2%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 87002
Population: 21,375
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 87002
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 776 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What price range are homes in Belen, NM?
The median home value in Belen, NM is roughly $270K. That puts it reasonable relative to the NM statewide average.
Is Belen, NM good for landlords?
For rental operators, Belen, NM rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Are tenants stable in Belen, NM?
Belen, NM draws a steady base of working renters. Demand at the $1,100/mo rent level is reasonable for standard single-family and small multi rentals.
What does house hacking look like in Belen, NM?
For house hackers, Belen, NM is a challenging. The $1,100/mo rent on a unit helps defray the mortgage on a $270K property.
What is the investability score for Belen, NM?
Belen, NM comes in at an investability rating of 3.0/5, with median home values near $270K and average rents around $1,100/mo. That combination puts it in the impressive tier for investor interest.
You know 87002 now. You don’t know where it ranks.
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How 87002 ranks in Albuquerque, NM
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