House Prices

House Prices & Home Values Elephant Butte, NM 2026


Average Data

average house price$162,500
average size per house1499 ft²
average price per ft²109 $ / ft²

06/26/2026 - The value range (VR) for house prices in Elephant Butte, NM is $108/ sqft to $108/ sqft. An average home with 1499 sqft costs approximately $161,892 to $161,892. Elephant Butte, NM includes 1 ZIP codes and it is located in Sierra county. The lowest prices are found in ZIP 87935, while the highest are in ZIP 87935. The average price per sqare feet is $109. Our analysis is based on 2 property listings.

Avergage prices by ZIP codes Elephant Butte

87935111 $ / ft²




Historical development of home values in Elephant Butte

Year Estimated value (USD) Change vs. 2025
2010 $75,468 -53.6%
2011 $72,550 -55.4%
2012 $72,354 -55.5%
2013 $75,059 -53.8%
2014 $78,791 -51.5%
2015 $82,835 -49.0%
2016 $87,158 -46.4%
2017 $91,862 -43.5%
2018 $96,941 -40.3%
2019 $101,435 -37.6%
2020 $106,679 -34.4%
2021 $121,336 -25.3%
2022 $141,451 -13.0%
2023 $149,166 -8.2%
2024 $157,796 -2.9%
2025 $162,500 0.0%

Graph: estimated home values in Elephant Butte over time (USD)



Example: 100% financing house in Elephant Butte

Loan amount: $162,500

Interest rate: 6.00%

Fixed monthly payment: $974.27

Breakdown in the 1st month:
Interest portion: $812.50  â€“  Principal portion: $161.77

Yearly breakdown (100% financing)

Year Interest per year ($) Principal per year ($) Remaining balance at year-end ($)
1 $9,695.72 $1,995.52 $160,504.48
2 $9,572.64 $2,118.60 $158,385.88
3 $9,441.97 $2,249.27 $156,136.61
4 $9,303.24 $2,388.00 $153,748.62
5 $9,155.95 $2,535.29 $151,213.33
6 $8,999.58 $2,691.66 $148,521.67
7 $8,833.56 $2,857.67 $145,664.00
8 $8,657.31 $3,033.93 $142,630.08
9 $8,470.18 $3,221.05 $139,409.02
10 $8,271.52 $3,419.72 $135,989.30
11 $8,060.59 $3,630.64 $132,358.66
12 $7,836.66 $3,854.57 $128,504.09
13 $7,598.92 $4,092.31 $124,411.78
14 $7,346.52 $4,344.72 $120,067.06
15 $7,078.55 $4,612.69 $115,454.37
16 $6,794.04 $4,897.19 $110,557.18
17 $6,492.00 $5,199.24 $105,357.94
18 $6,171.32 $5,519.92 $99,838.03
19 $5,830.86 $5,860.37 $93,977.65
20 $5,469.41 $6,221.83 $87,755.83
21 $5,085.66 $6,605.58 $81,150.25
22 $4,678.24 $7,012.99 $74,137.26
23 $4,245.70 $7,445.54 $66,691.72
24 $3,786.47 $7,904.76 $58,786.95
25 $3,298.92 $8,392.31 $50,394.64
26 $2,781.30 $8,909.93 $41,484.71
27 $2,231.76 $9,459.48 $32,025.23
28 $1,648.32 $10,042.92 $21,982.31
29 $1,028.89 $10,662.34 $11,319.97
30 $371.26 $11,319.97 $0.00

Note: The calculation is based on a standard annuity mortgage with a fixed monthly payment over the entire term. Extra payments, interest rate changes, and additional purchase costs (e.g. taxes, notary fees) are not included.


How to sell in Elephant Butte, NM


1500 sqft3900 sqft
Ø selling price$197,836$420,850
Ø fast selling$179,850$378,765
Ø high price sale$215,821$462,934

In 2026, houses in Elephant Butte, NM will be offered at an average price of $109 per square foot. A 1,500 sqft home priced at $197,836 is 23.46% more expensive per square foot than a 3,900 sqft home priced at $420,850. Home prices in Elephant Butte, NM vary significantly depending on the neighborhood and location. For a quick sale, a 2,700 sqft home should be listed at around $291,357. Sellers who can wait longer may achieve a higher price of up to $356,103.


Elephant Butte, NM Travel Guide

Overview

Nestled in Sierra County along the Rio Grande, Elephant Butte, NM is a sunny getaway best known for its vast reservoir and relaxed lakeside vibe.
This small city offers year-round blue skies, affordable stays, and easy access to Elephant Butte Lake State Park.

Outdoor Recreation

Visitors come for world-class boating, sailing, and fishing, with striped bass, walleye, and catfish drawing anglers from across New Mexico. Sandy coves and long beaches invite swimming, paddling, and shoreline camping, while nearby trails suit hiking, mountain biking, and birding.
Well-kept marinas, boat rentals, and RV parks make planning a lakeside adventure simple for families and groups.

History and Culture

The town takes its name from the elephant-shaped butte revealed when the Rio Grande was dammed in 1916 to create Elephant Butte Reservoir.
Nearby Truth or Consequences adds hot springs, quirky galleries, and regional cuisine, rounding out the area?s culture and relaxation.

Visitor Tips and Nearby Attractions

Plan ahead for peak summer weekends, bring sun protection for the high-desert climate, and check water levels and boating regulations before you launch.
Popular day trips include the Bosque del Apache National Wildlife Refuge for birdwatching and Spaceport America tours for a dose of aerospace history. With spectacular sunsets, starry skies, and year-round recreation, Elephant Butte, New Mexico is an inviting base for exploring southern New Mexico.



FAQ – Home Values in Elephant Butte

What is the median home value in Elephant Butte in 2026?

In 2026, the typical home value in Elephant Butte is about $162,500 for an average home size of 1499 square feet. This corresponds to an average price of roughly $109 per square foot.

What is the average cost per square foot in Elephant Butte?

In 2026, homes in Elephant Butte sell for an average of around $109 per square foot, with a typical range between $108 and $108 per square foot, depending on the property’s location, condition, and lot size.

What is the average home size in ?

The average home size in Elephant Butte is about 1499 square feet, with an estimated 2026 value around $162,500.



Locations close to Elephant Butte, NM

Garfield, NM144 $ / ft²
Hatch, NM102 $ / ft²
Monticello, NM222 $ / ft²
Derry, NM101 $ / ft²
Caballo, NM109 $ / ft²
Arrey, NM95 $ / ft²
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