Real Estate Investing in Aztec, New Mexico (87415)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 87415 (Aztec, 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.
- Elevated vacancy: 10.4% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Aztec, NM (87415)?
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Market Analysis: 87415 Aztec
ZIP 87415 inside San Juan County looks affordable on the surface — median value of $309K — but the discount exists for reasons that a careful buyer should understand before committing.
Rent of $1,467/mo on a $309K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 87415 sits below the stated 0.0% once reality is priced in.
Within NM, ZIP 87415 trails on several market indicators that neighboring San Juan County submarkets outperform. The gap is real and resilient enough to shape underwriting.
A healthy renter share of 29% in 87415 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
New investors are better served looking at Aztec's stable or hybrid ZIPs before stepping into 87415. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Aztec:
Market Trends
Home Value History (with trend line)
📊 How Does 87415 Compare?
| Metric | 87415 | Aztec | Farmington, NM | New Mexico |
|---|---|---|---|---|
| Home Value | $308,993 | $292,767 | N/A | $308,799 |
| 5-Year CAGR | 6.3% | 5.7% | N/A | 7.3% |
| Avg Rent | $1,467 | $1,246 | N/A | - |
| Cap Rate | 3.7% | 3.3% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 87415 (Aztec, NM). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $308,993 |
| Monthly Rent | $1,467 |
| Price-to-Rent | 17.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.7% |
| Cap Rate | 3.7% |
| 5-Year IRR | 10.0% |
📈 Home Appreciation
| 1-Year | +10.7% ▲ |
| 3-Year CAGR | +4.1% ▲ |
| 5-Year CAGR | +6.3% ▲ |
| 10-Year CAGR | +5.4% ▲ |
🏠 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 (3.7%). 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 87415
Population: 2,277
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
🎓 Nearby Colleges & Universities
Investor Insight: With 3,029 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is housing expensive in Aztec, NM?
The median home value in Aztec, NM is roughly $309K. That puts it reasonable relative to the NM statewide average.
How deep is the rental pool in Aztec, NM?
Tenant demand in Aztec, NM is solid. The local workforce $1,467/mo rents across most rental classes.
How does Aztec, NM rate as a rental market?
With a 3.0/5 investability score, Aztec, NM ranks as a solid market for rental property investors. Median prices of $309K and rents of $1,467/mo drive the underlying numbers.
Are eviction rules reasonable in Aztec, NM?
NM ranks as a landlord-friendly state for landlord-tenant law. Aztec generally follows the statewide framework, so landlords face reasonable operating rules.
What strategy should investors use in Aztec, NM?
The best-fit strategy in Aztec, NM is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
You know 87415 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 87415 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 87415 ranks in Farmington, NM
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