87048 — Corrales, NM Home Values
Typical home value $716,595 as of June 2026 · 2nd of 38 in Albuquerque, NM
Blue: typical home value (Zillow ZHVI) in ZIP code 87048, June 2021 to June 2026. This page shows observed data only; no forecast.
How 87048 compares in the Albuquerque, NM area
ZIP code 87048 (Corrales, NM) has a typical home value of $716,595 as of June 2026, ranking 2nd of 38 ZIP codes tracked in the Albuquerque, NM area, more expensive than about 97% of ZIP codes in the metro. Prices here have moved +2.6% over the trailing 12 months. Over the past five years, the typical value in this ZIP code has changed +30.3%, from $549,782 in June 2021 to $716,595 in June 2026.
Every figure above is observed Zillow data. Sialim's forecasting engine works at the metro level; see the Albuquerque, NM forecast for a modeled outlook, or browse the full ranked list of ZIP codes in Albuquerque.
Population and demographics
ZIP code 87048 has a population of 9,173, per the Census Bureau's American Community Survey 5-year estimate. By race and ethnicity: 65.4% White, 27% Hispanic or Latino, 2.3% American Indian or Alaska Native, 2.1% Black or African American, 1.7% two or more races, 1.1% Asian, and 0.3% another race.
Nearby public schools
| School | Address | Distance |
|---|---|---|
| CORRALES ELEMENTARY | 200 TARGET RD, CORRALES, NM | 1.1 mi |
| RIO RANCHO ELEMENTARY | 4601 PEPE ORTIZ RD SE, RIO RANCHO, NM | 1.2 mi |
| RIO RANCHO CYBER ACADEMY | 1330 JACKIE RD SE, RIO RANCHO, NM | 1.5 mi |
Distance is straight-line from the ZIP code's center; driving distance will be longer. School attendance is set by district boundaries, not proximity. Confirm which school a specific address is zoned for with the local school district. Source: National Center for Education Statistics.
Frequently asked questions
What is the typical home value in ZIP code 87048?
$716,595 as of June 2026, the latest month Zillow has published observed data for.
Is 87048 an expensive ZIP code in the Albuquerque, NM area?
87048 ranks 2nd of 38 ZIP codes in the Albuquerque, NM area by typical home value, more expensive than about 97% of ZIP codes in the metro.
How much have home values in 87048 changed over the past year?
+2.6% over the trailing 12 months, from observed Zillow data.
What is the population of ZIP code 87048?
9,173, per the US Census Bureau's American Community Survey 5-year estimate.
What are the closest public schools to ZIP code 87048?
CORRALES ELEMENTARY (1.1 mi), RIO RANCHO ELEMENTARY (1.2 mi), RIO RANCHO CYBER ACADEMY (1.5 mi), by straight-line distance from the ZIP code's center. School attendance is set by district boundaries, not proximity. Confirm assignment with the local school district.
Is this page showing a forecast for 87048?
No. Every number on this page is observed Zillow data as of June 2026, not a forecast. Sialim's forecasting engine runs at the metro level; see the Albuquerque, NM forecast for a modeled outlook.
ZIP-level values shown here are observed Zillow data, not forecasts. Sialim's forecasting engine works at the metro level today; ZIP-level forecasts are planned for Sialim Pro. Data © Zillow, via Zillow Research.