Real Estate Investing in Garfield, New Mexico (87941)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 87941 (Garfield, NM)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 13.3% of homes vacant — above national norms.
- Elevated poverty: 65.6% poverty rate — can affect rent collection.
- Higher unemployment: 15.9% unemployment — tenant risk signal.
- Lower household income: $26,280 median — tenant affordability is tighter.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Garfield, NM (87941)?
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Market Analysis: 87941 Garfield
The 87941 ZIP covers a section of Garfield that demands careful diligence. Prices near $177K look accessible, but the work to make a deal cash flow is real.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $177K asset, 87941 is the wrong submarket. If the plan prices in friction, the yield can still work.
Statewide comparisons place 87941 among NM's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The demographic picture in 87941 includes headwinds that any investor should price in. Income distribution skews lower than Garfield averages, and tenant stability requires active management.
seems to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Garfield:
Market Trends
Home Value History (with trend line)
📊 How Does 87941 Compare?
| Metric | 87941 | Garfield | Las Cruces, NM | New Mexico |
|---|---|---|---|---|
| Home Value | $176,506 | $181,245 | N/A | $308,799 |
| 5-Year CAGR | 4.4% | 4.7% | N/A | 7.3% |
| Avg Rent | $936 | $936 | N/A | - |
| Cap Rate | 4.1% | 4.0% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 87941 (Garfield, NM). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $176,506 |
| Monthly Rent | $936 |
| Price-to-Rent | 15.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.4% |
| Cap Rate | 4.1% |
| 5-Year IRR | 8.5% |
📈 Home Appreciation
| 1-Year | +3.1% ▲ |
| 3-Year CAGR | +1.0% ▲ |
| 5-Year CAGR | +4.4% ▲ |
| 10-Year CAGR | +5.5% ▲ |
🏠 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 (4.1%). 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 87941
Population: 899
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
Frequently Asked Questions
Is Garfield, NM a good market for buy-and-hold investors?
Investors tracking Garfield, NM will find a 3.0/5 rating supported by $177K median home values and $936/mo rents. That profile suits long-term holders targeting predictable returns.
What is the average monthly rent in Garfield, NM?
Rent in Garfield, NM is around $936/mo. The resulting rent-to-value relationship with $177K pricing is reasonable for most investor models.
Is NM a landlord-friendly state?
Landlord-friendliness in Garfield, NM is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
How tight is the rental market in Garfield, NM?
Garfield, NM carries elevated vacancy risk. Expect steady absorption at market rents of $936/mo.
Can I live-in-and-rent in Garfield, NM?
House hacking in Garfield, NM is a challenging. With home values around $177K and rents at $936/mo, owner-occupants can offset a meaningful share of PITI.
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