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ZIP Code · NM

ZIP 88061

Pop. 17,464·Grant County·24th most expensive ZIP in New Mexico
Median rent (all units)
$1,400/mo
Year-over-Year
Stable
Month-over-Month
+0.4%
vs US Median
-$548
Reported rents
Stable (Monthly)
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Most AffordableMost Expensive
ZIP 88061 · $1,400
More affordable than 80% of US ZIP codes · National median $1,948/mo
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Medians by bedroom

Rent by unit size

Studio
$820
1 BR
$830
2 BR
$1,080
3 BR
$1,340
4 BR+
$1,430
Research median
$1,080/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: September 25, 2026

From the history

What the numbers show

What a typical income covers

30% of the median household income ($47,917) is $1,198 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,080); a 3-bedroom is $1,340.

From Zillow's monthly rent index (ZORI) for ZIP 88061. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost
$16,800/yr
At $1,400/mo median
Location
StateNM
CountyGrant County
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (+0.0% YoY, +0.4% MoM), not inventory.
Demographics

Who lives here

ZIP 88061 (Silver City, NM) is majority owner-occupied, has a large retiree population, has a median income below the national average, 35.2% of residents hold a bachelor's degree or higher.

Population
17,464
Median income
$47,917
Median age
49.5
Renters
26.6%
Age distribution
17.7%
15.8%
22.3%
14.3%
30%
Under 1817.7%
18–3415.8%
35–5422.3%
55–6414.3%
65+30%
Gender
49.9%
50.1%
Male49.9%
Female50.1%
Race & ethnicity
65.6%
41.6%
White65.6%
Black1.2%
Hispanic41.6%
Asian1.3%
Education (25+)
24.4%
32.4%
35.2%
No HS diploma8.1%
HS diploma24.4%
Some college32.4%
Bachelor's+35.2%
Housing tenure
73.4%
26.6%
Owner73.4%
Renter26.6%

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

2021 vs 2026

How ZIP 88061 in Silver City, NM has changed in 5 years

Income
$40,229 → $47,917
up 19.1%
Population
17,683 → 17,464
down 1.2%
Renter share
33.7% → 26.6%
-7.1 pts
Bachelor's+
28.7% → 35.2%
+6.5 pts
Median age
47.1 → 49.5
+2.4 yrs

Median household income climbed from $40,229 to $47,917 between 2021 and 2024, a 19.1% shift. Census counts show ZIP 88061 in Silver City, NM losing about 219 residents over the five-year window, down 1.2% on net. The renter share has eased from 33.7% to 26.6%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 28.7% to 35.2% across the same window.

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Local insights

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About renting in ZIP 88061

Last updated: September 25, 2026

ZIP code 88061 covers Silver City, NM. The median rent here is $1,400/mo as of September 2026. A 1-bedroom rents for a median of $830/mo. A 2-bedroom rents for a median of $1,080/mo.

At 35% of local median household income ($47,917/yr), ZIP 88061 ranks as moderate compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 88061?

To keep rent at or below 30% of gross income, you would need to earn at least $56,000/year (about $27/hour full-time) to afford the median rent of $1,400/mo in ZIP 88061. The local median household income is $47,917/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 88061?

Rent in ZIP 88061 has been roughly flat over the past year, a 0.0% change.

How does ZIP 88061 compare to other ZIPs in New Mexico?

ZIP 88061 is in the middle among New Mexico ZIP codes for rent, ranking #24 of 37 at $1,400/mo.

How does ZIP 88061 compare to the rest of Silver City?

At $1,400/mo, ZIP 88061 is $29 above the Silver City citywide median of $1,371/mo.
Income Affordability
35%
MODERATE

At $1,400/mo, rent takes ~35% of ZIP 88061's median household income ($47,917/yr). The standard benchmark is 30%.

ZIP 88061 35%Benchmark 30%
State income tax1.7–5.9%
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Schools nearby

Public schools near ZIP 88061 (Silver City, NM)

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