While the affordability crisis impacts many areas of New Mexico, the 2024 median-priced home in Santa Fe was $631,200, which is considered unaffordable for 90% of Santa Fe City residents. This financial burden impacts essential members of the city’s workforce, preventing these working families from residing in the communities they contribute to and that Santa Fe relies on. Right now, the starting annual income of a Santa Fe teacher is around $50,000, a salary that puts owning a home in Santa Fe out of reach as prices exponentially increase. This homeownership crisis contributes to the widening racial wealth gap and climate change, while pricing out communities that make our city stronger.

We often think of affordable housing as subsidized rental units, homeownership is often more cost-effective than renting in the U.S. In two-thirds of American counties, the average monthly mortgage payment is less than average monthly rent. While affordable rental housing is essential, solely relying on rental strategies lacks foresight and doesn’t build wealth for the renter.

To increase the supply of affordable housing, we build high-quality, energy-efficient homes. Miraflores is our newest Homewise Homes® community featuring single family homes with several floorplans and sizes.