ZIP Code · NM

ZIP 87507

Part of Santa Fe, NM

Pop. 51,386·Santa Fe County·7th most expensive ZIP in New Mexico

Median rent (all units)

$1,877/mo

Year-over-Year

+0.5%

Month-over-Month

+0.8%

vs US Median

-$55

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 87507 · $1,877

More expensive than 54% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,190

1 BR

$1,310

2 BR

$1,590

3 BR

$2,000

4 BR+

$2,110

Research median

$1,590/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: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

January. Asking rents in ZIP 87507 usually run 0.8% below trend in January and 0.5% above it in July, about $24 a month apart at today's median. Based on 8 years of data.

Compared with the peak

Rent in ZIP 87507 is 1.6% below its high of $1,907 in November 2024, at $1,877 as of September 2026.

Past year vs. the rest of New Mexico

Rent in ZIP 87507 changed +0.5% over the year to September 2026. Across the 32 New Mexico ZIP codes Zillow tracks, the typical change was +3.2%.

Rent vs. income since 2019

From 2019 to 2024, rent in ZIP 87507 rose 43.1% while median household income rose 30.4% ($54,006 to $70,398). Rent outpaced income.

Since before the pandemic

Rent in ZIP 87507 is 32.7% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent has risen 2 months in a row, and rose in 6 of the last 12 months.

What a typical income covers

30% of the median household income ($70,398) is $1,760 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,590); a 3-bedroom is $2,000.

Rank in Santa Fe

2nd cheapest of 3 ZIP codes in Santa Fe.

From Zillow's monthly rent index (ZORI) for ZIP 87507. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$22,524/yr

At $1,877/mo median

Location

CitySanta Fe

StateNM

CountySanta Fe County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (0.5% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+0.5% YoY, +0.8% MoM), not inventory.

Demographics

Who lives here

ZIP 87507 (Santa Fe, NM) is majority owner-occupied, 32.4% of residents hold a bachelor's degree or higher.

Population

51,386

Median income

$70,398

Median age

39.8

Renters

32.7%

Age distribution

21.1%

22.3%

26.7%

13.4%

16.5%

Under 1821.1%

18–3422.3%

35–5426.7%

55–6413.4%

65+16.5%

Gender

49.2%

50.8%

Male49.2%

Female50.8%

Race & ethnicity

41%

68.6%

White41%

Black1%

Hispanic68.6%

Asian1.9%

Education (25+)

13.6%

26.2%

27.8%

32.4%

No HS diploma13.6%

HS diploma26.2%

Some college27.8%

Bachelor's+32.4%

Housing tenure

67.3%

32.7%

Owner67.3%

Renter32.7%

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

2021 vs 2026

How ZIP 87507 in Santa Fe, NM has changed in 5 years

Rent

$1,392 → $1,877

up 34.8%

Income

$56,342 → $70,398

up 24.9%

Population

51,780 → 51,386

down 0.8%

Renter share

31.3% → 32.7%

+1.4 pts

Bachelor's+

27.5% → 32.4%

+4.9 pts

Median age

37.8 → 39.8

+2.0 yrs

Compared with 2021, rent in ZIP 87507 in Santa Fe, NM has climbed by $485 per month, settling near $1,877 after starting the period at $1,392. Local incomes tracked alongside that move, going from a median of $56,342 in 2021 to $70,398 more recently. Rent outpaced income growth by roughly 9.9 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 27.5% to 32.4%. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 87507 in Santa Fe, NM market of 2021.

Community

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About renting in ZIP 87507

Last updated: October 17, 2026

ZIP code 87507 covers Santa Fe, NM. The median rent here is $1,877/mo as of October 2026. A 1-bedroom rents for a median of $1,310/mo. A 2-bedroom rents for a median of $1,590/mo.

At 32% of local median household income ($70,398/yr), ZIP 87507 ranks as moderate compared to the national benchmark of 30%. Rents have increased 0.5% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 87507?

To keep rent at or below 30% of gross income, you would need to earn at least $75,000/year (about $36/hour full-time) to afford the median rent of $1,877/mo in ZIP 87507. The local median household income is $70,398/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 87507?

Rent in ZIP 87507 has risen 0.5% over the past year as of September 2026. It sits 1.6% below its high of $1,907 in November 2024.

When is the cheapest time to rent in ZIP 87507?

Asking rents in ZIP 87507 are usually lowest in January, about 0.8% below their yearly trend, and highest in July, about 0.5% above it. At today's median that is a gap of roughly $24 a month. This pattern comes from 8 years of Zillow rent data.

Has rent outpaced income in ZIP 87507?

Yes. From 2019 to 2024, rent in ZIP 87507 rose 43.1% while median household income rose 30.4%, from $54,006 to $70,398. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 87507 compare to other ZIPs in New Mexico?

ZIP 87507 is one of the pricier among New Mexico ZIP codes for rent, ranking #7 of 36 at $1,877/mo. Over the year to September 2026, rent in ZIP 87507 changed +0.5%, against a typical +3.2% across the 32 New Mexico ZIP codes Zillow tracks.