Why Live in Silver City
Silver City, a small New Mexican town with a population of about 10,000, is known for its historic silver deposit and appealing weather. The town experiences four mild seasons, making it an attractive location for those who enjoy a variety of outdoor activities. Silver City is home to the Gila National Forest and the Gila National Cliff Dwellings, offering ample opportunities for hunting, fishing, camping, and other things to do in nature. The town features a mix of housing styles, including ranch-style, Modern Traditional, and popular Spanish-inspired homes with adobe and stucco exteriors. The Silver Consolidated School District serves the area, with Aldo Leopold Charter School being a highly rated option. Western New Mexico University provides higher education opportunities within the town. Silver City boasts 15 parks, a city pool, a skatepark, and various local restaurants and shops along the highway corridors. While residents typically need a car to get around, the town is accessible via Highways 180 and 90, with the nearest commercial airport 15 miles away in Hurley. The local crime rate is lower than the national average for violent crimes, although property crimes saw a slight increase in 2023. Silver City hosts several annual events, including the Blues Festival and Fiesta Latina, adding to the community's vibrant cultural scene.
Frequently Asked Questions
What is the average home price in Silver City, NM?
Homes for sale in Silver City, NM have an average home price of $370,220.
Are home prices dropping in Silver City?
Yes, home prices in Silver City are down 7% in the last 12 months.
How many homes have sold over the last 12 months in Silver City, NM?
154 homes have sold in Silver City, NM over the last 12 months.
What are the most popular zip codes in Silver City, NM?
How much do you need to make to afford a house in Silver City?
The median home price in Silver City is $329,500. If you put a 20% down payment of $65,900 and had a 30-year fixed mortgage with an interest rate of 6.67%, your estimated principal and interest payment would be $1,700 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $73K a year to afford the median home price in Silver City.
How are the schools in Silver City, NM?
Home Trends in Silver City, NM
On average, homes in Silver City, NM sell after 81 days on the market compared to the national average of 50 days. The median sale price for homes in Silver City, NM over the last 12 months is $279,000, down 4% from the median home sale price over the previous 12 months.
Median Sale Price
$279,000
Median Single Family Sale Price
$315,000
Median 2 Bedroom Sale Price
$151,050
Average Price Per Sq Ft
$188
Number of Homes for Sale
78
Last 12 months Home Sales
154
Median List Price
$329,500
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
-4%