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ZIP Code · NM

ZIP 87031

Pop. 47,514·Valencia County·6th most expensive ZIP in New Mexico
Median rent (all units)
$2,025/mo
Year-over-Year
+18.4%
Month-over-Month
+1.3%
vs US Median
+$60
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 87031 · $2,025
More expensive than 62% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,050
1 BR
$1,240
2 BR
$1,530
3 BR
$2,130
4 BR+
$2,510
Research median
$1,530/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$24,300/yr
At $2,025/mo median
Location
StateNM
CountyValencia County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 18.4% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+18.4% YoY, +1.3% MoM), not inventory.
Demographics

Who lives here

ZIP 87031 (Los Lunas, NM) is majority owner-occupied, has a median income below the national average, 20.3% of residents hold a bachelor's degree or higher.

Population
47,514
Median income
$60,902
Median age
38
Renters
16.8%
Age distribution
24.3%
21.7%
24.6%
17.5%
Under 1824.3%
18–3421.7%
35–5424.6%
55–6412%
65+17.5%
Gender
50.6%
49.4%
Male50.6%
Female49.4%
Race & ethnicity
47.4%
63%
White47.4%
Black1.1%
Hispanic63%
Asian1.1%
Education (25+)
14.2%
32.7%
32.7%
20.3%
No HS diploma14.2%
HS diploma32.7%
Some college32.7%
Bachelor's+20.3%
Housing tenure
83.2%
16.8%
Owner83.2%
Renter16.8%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 87031 in Los Lunas, NM has changed in 5 years

Income
$55,971 → $60,902
up 8.8%
Population
45,537 → 47,514
up 4.3%
Renter share
17.4% → 16.8%
-0.6 pts
Bachelor's+
19.1% → 20.3%
+1.2 pts
Median age
36.3 → 38
+1.7 yrs

Household income in the area moved from $55,971 to $60,902 across the same window, up 8.8% versus 2021. The population has grown by 4.3% since 2021, moving from about 45,537 residents to roughly 47,514.

Community

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Local insights

Tips for renters in ZIP 87031

About renting in ZIP 87031

Last updated: July 20, 2026

ZIP code 87031 covers Los Lunas, NM. The median rent here is $2,025/mo as of July 2026. A 1-bedroom rents for a median of $1,240/mo. A 2-bedroom rents for a median of $1,530/mo.

At 40% of local median household income ($60,902/yr), ZIP 87031 ranks as moderate compared to the national benchmark of 30%. Rents have increased 18.4% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 87031?

As of July 20, 2026, the median monthly rent in ZIP 87031 (Los Lunas, NM) is $2,025. This is based on aggregated data from public sources and community submissions.

How does ZIP 87031 rent compare to the US average?

ZIP 87031's median rent of $2,025/mo is $60 (3%) above the US national median of $1,965/mo.

How does ZIP 87031 compare to other ZIPs in New Mexico?

ZIP 87031 is one of the pricier ZIP codes in New Mexico, ranking #6 out of 35 ZIPs tracked at $2,025/mo.

How much income do you need to rent in ZIP 87031?

To keep rent at or below 30% of gross income, you would need to earn at least $81,000/year (~$39/hour full-time) to afford the median rent of $2,025/mo in ZIP 87031. The local median household income is $60,902/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 87031?

Rent in ZIP 87031 has increased 18.4% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 87031 an affordable place to rent?

ZIP 87031 is considered moderate for renters. At $2,025/mo, rent takes approximately 40% of the local median household income ($60,902/yr). The standard benchmark is 30%. ZIP 87031 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 87031 residents rent vs. own?

According to Census data, approximately 16.8% of ZIP 87031 households are renters, while 83.2% are owner-occupied. ZIP 87031 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 87031 compare to the rest of Los Lunas?

ZIP 87031 sits right at the Los Lunas citywide median of $2,025/mo.

When was rent data for ZIP 87031 last updated?

Rent data for ZIP 87031 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
40%
MODERATE

At $2,025/mo, rent takes ~40% of ZIP 87031's median household income ($60,902/yr). The standard benchmark is 30%.

ZIP 87031 40%Benchmark 30%
State income tax1.7–5.9%
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Schools nearby

Public schools near ZIP 87031 (Los Lunas, NM)

Recent submissions

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