Housing in Elephant Butte, NM
Home values, rent, ownership rates, and housing market data
Housing Market Snapshot
Source: Zillow — January 2026Zillow Home Value Index
$232,066
Elephant Butte vs Similar Cities
Source: Census ACS / Redfin (2023)Compared to cities with under 10,000 residents. Elephant Butte is highlighted.
Median Home Value
47th%ilemost expensive$166,800show rank
Median Rent
68th%ilemost expensive rent$1,169show rank
Rent Burden
95th%ilehighest rent burden31.0%show rank
Census Housing Data
Source: U.S. Census Bureau ACS (2023)Median Home Value
$166,800
Median Rent
$1,169
Total Housing Units
1,566
Vacancy Rate
39.5%
Owner Occupied
86.0%
Renter Occupied
14.0%
Median Property Tax
$963
per year
Monthly Cost (w/ Mortgage)
$407
Housing Types
Single Family39.7%
Multi-Family1.4%
Mobile Home58.9%
The median home value in Elephant Butte, NM is $166,800. According to Zillow, the home value index for Elephant Butte is $232,066. The median rent is $1,169 per month (Census ACS). About 86.0% of housing units are owner-occupied. The median year homes were built is 1994. There are 1,566 total housing units.