Gallup, NM 87301 housing market
Data through Aug 2026 · Balanced market · leverage 54
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Home Value
$224,338
−1.3% vs. a year ago
Buyer Leverage Score
54
Sep 2026
Months of Supply
5.7 months
Aug 2026
Days on Market
78 days
Sep 2026
Price Cut %
13%
Sep 2026
Sale-to-List Ratio
100.0%
Feb 2026
Mtg Payment as % of Income
29%
Aug 2026
Overvalued %
4.4%
Aug 2026
Expected Disaster Loss
$79
Dec 2025
What this means
- Valuation. Prices are roughly in line with local incomes (+4% vs. this area's pre-2020 price-to-income norm).
- Prices. Home values are down 1.3% over the past year (U.S.: +1.2%).
- Supply. Listings are 43% below the 2017-19 norm: still a tight market.
- Negotiating. Buyer leverage is moderate (54/100; U.S.: 54): homes typically sell at or above asking (100.0% of list) (as of Feb 2026); 13% of listings had a price cut (U.S.: 26%).
- Affordability. A mortgage on the typical home takes 29% of the median household income (U.S.: 35%); it takes about $58k a year to keep the payment at 30% of gross pay. That includes about $1,131 a year for home insurance (U.S.: $1,790).
- Disaster risk. FEMA expects about $79 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from flooding.
- Outlook. No clear direction: likely −8% to +8% over the next 12 months (60% chance of a rise).
Next 12 months
No clear direction
A rise is somewhat more likely than a fall, but not by enough to call. Likely change: −7.9% to +8.4% (80% range; middle estimate +1.3%), chance of a rise 60%, of a 5%+ drop 17%.
HouseVane's model, refit every month on local market signals and national ones, trained only on data known at the time. How accurate it has been.
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Other ZIP codes in McKinley County, NM
| Area | Home value | 1-year change | Buyer leverage |
|---|---|---|---|
| ZIP 87327 | – | – | – |
| Crownpoint, NM 87313 | – | – | – |
| ZIP 87311 | – | – | – |
| Yatahey, NM 87375 | – | – | 70 |
| Thoreau, NM 87323 | – | – | 61 |
| ZIP 86515 | – | – | – |
| Prewitt, NM 87045 | – | – | 54 |
| ZIP 87319 | – | – | 39 |
| Vanderwagen, NM 87326 | – | – | 28 |
| Tohatchi, NM 87325 | – | – | 72 |
| Fort Wingate, NM 87316 | – | – | – |
| ZIP 87305 | – | – | 44 |
| Gallup, NM 87317 | – | – | 47 |
| ZIP 87310 | – | – | – |
| Continental Divide, NM 87312 | – | – | 68 |
| Mexican Springs, NM 87320 | – | – | – |
| Rehoboth, NM 87322 | – | – | 16 |
| Jamestown, NM 87347 | – | – | 37 |
| ZIP 87365 | – | – | – |