ZIP Code 87031: Population, Income, Housing

State: NM

Total population: 47,514 Household income: $60,902 Rent: $1,062

Overview

Total population

47,514

Rent

$1,062

Year built

1993

Household income

$60,902

Per capita income

$29,147

Poverty rate

17.4%

Unemployment rate

N/A

Household size

2.9 persons

Rent over 30% of income

47.7%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available. New 5-year estimates are published annually, about 6–12 months after the end of each reference year.

Demographics

State

New Mexico

County

Valencia County

City

Los Lunas

Total population

47,514

Adults over 25

32,284

Total households

15,957

Household size

2.9 persons

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Income & Poverty

Household income

$60,902

Per capita income

$29,147

Poverty rate

17.4%

Unemployment rate

N/A

Rent over 30% of income

47.7%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Housing

Rent

$1,062

Year built

1993

Households that rent

16.8%

Households that own

83.2%

Rooms per home (all homes)

5.7

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Race

White

47.4%

Black

1.1%

Asian

1.1%

Two or more races

33.8%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Ethnicity

Hispanic or Latino

63%

Not Hispanic or Latino

37%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Commute

Commute rate

15,478 (88.4%)

Commute time to work

31 mins

Work from home

2,033 (11.6%)

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Education

Less than high school

36.2%

High school graduate or GED

32.7%

Some college or associate degree

10.8%

Bachelor’s degree or higher

20.3%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

ZIP data use Census ZCTAs, which closely match USPS ZIP Codes in most cases (see FAQ for details).

Comparison of ZIP Code 87031 with: Valencia County, NM Albuquerque metro area, NM New Mexico United States

ZIP 87031

Total population47,514

Rent$1,062

Year built1993

Household income$60,902

Per capita income$29,147

Poverty rate17.4%

Unemployment rateN/A

Valencia County, NM

Total population78,458

Rent$1,015

Year built1989

Household income$58,933

Per capita income$30,718

Poverty rate18.1%

Unemployment rate4%

Albuquerque Metro Area, NM

Total population921,482

Rent$1,156

Year built1985

Household income$70,783

Per capita income$39,741

Poverty rate14.6%

Unemployment rate3.9%

New Mexico State

Total population2,120,246

Rent$1,067

Year built1985

Household income$64,059

Per capita income$36,218

Poverty rate17.8%

Unemployment rate4.2%

United States

Total population334,922,499

Rent$1,413

Year built1980

Household income$80,734

Per capita income$44,673

Poverty rate12.5%

Unemployment rate4%

Metric	ZIP87031	CountyValencia, NM	Metro AreaAlbuquerque metro area, NM	StateNew Mexico	CountryUnited States
Total population	47,514	78,458	921,482	2,120,246	334,922,499
Rent	$1,062	$1,015	$1,156	$1,067	$1,413
Year built	1993	1989	1985	1985	1980
Household income	$60,902	$58,933	$70,783	$64,059	$80,734
Per capita income	$29,147	$30,718	$39,741	$36,218	$44,673
Poverty rate	17.4%	18.1%	14.6%	17.8%	12.5%
Unemployment rate	N/A	4%	3.9%	4.2%	4%

View the full multi-level comparison →

Summary for 87031

Rent & Income

In 87031, the typical monthly rent is $1,062 and the typical household income is $60,902. Rent here is similar to New Mexico, and household income is similar to New Mexico. The estimated poverty rate is 17.4%.

Housing & Affordability

This ZIP Code is primarily owner-occupied, with renters accounting for about 16.8% of households. About 47.7% of renters spend more than 30% of their income on housing, indicating high cost burden.

Education & Employment

Educational attainment is moderate, with about 20.3% of adults holding a bachelor’s degree or higher.

ZIP 87031 — Rent vs Household Income

ZIP 87031 — Poverty

How ZIP 87031 compares in New Mexico (24 ZIP Codes)

Metric	This ZIP	Rank	Starts from	State range
Rent	$1,062	8 / 24	from lower rent	$806 – $1,688
Household income	$60,902	16 / 24	from higher income	$33,087 – $94,550
Poverty rate	17.4%	15 / 24	from lower poverty	7.5% – 34.4%

Rankings are calculated among ZIP Codes in New Mexico with total population > 30,000 (year 2024).

Detailed Ranking Explanation for ZIP Code 87031

Rent

In terms of rental prices, this ZIP stands 8th out of 24 ZIP Codes in New Mexico. Across New Mexico, figures vary from $806 in ZIP 88001 up to $1,688 in ZIP 87144.

Household income

When comparing household incomes, ZIP Code 87031 stands 16th out of 24 ZIP Codes. Throughout New Mexico, numbers span from $33,087 in ZIP 88001 up to $94,550 in ZIP 87144.

Poverty rate

Looking at poverty indicators, this ZIP stands 15th out of 24 ZIP Codes. At the state level, values extend from 7.5% in ZIP 87124 up to 34.4% in ZIP 88001.

💰 Rent in ZIP Code 87031 (with Utilities)

Estimated Monthly Rent: $1,062 ℹ️ What’s Included:
✅ Base rent, electricity, gas, water/sewer, and heating fuels
❌ Not included: internet, cable TV, renter's insurance, parking

💡 What does this rent estimate mean?

Explanation: This estimate shows what renters typically pay each month for housing — including the apartment or home and essential utilities like heat, water, and electricity.

Included in this number: Rent plus electricity, gas, water/sewer, and heating fuel.

Not included: Internet, cable, parking, renter’s insurance, or furniture rental.

Note: This cost does not depend on the number of people living in the home.

👨‍👧‍👦 Household Income in ZIP Code 87031

Annual Household Income: $60,902

💡 What does Household Income mean?

Definition: This represents the middle value of all household incomes in the ZIP code — half of households earn less, and half earn more.

Includes: wages, salaries, self-employment income, Social Security, pensions, investments, unemployment, public assistance, and rental income.

Does NOT include: capital gains, non-cash benefits (like food stamps), or tax refunds.

Household = any group of people (or a single person) living in the same housing unit.

Example: A couple earning $40,000 and $30,000 together have a household income of $70,000. If that's in the middle of all local incomes, it's the value shown here.

📉 Poverty Rate in ZIP Code 87031

Estimated Rate: 17.4%

💡 What does the Poverty Rate represent?

Definition: The percentage of people in this area living below the federal poverty threshold.

How it works: The threshold is a dollar amount set by the U.S. Census Bureau that varies by family size and age. If a household's income is below that level, everyone in it is included in this rate.

Example: In a town of 10,000 people, if 1,500 have incomes below the poverty line, the poverty rate is 15%.

Note: This statistic only includes people living in households; it does not count those in student housing, military barracks, or nursing homes.

🏘️ Renter vs. Owner Households in ZIP Code 87031

In ZIP Code 87031, households that rent: 2,682 (16.8%)

📊 What does the renter household percentage reveal about this ZIP Code?

Household Type	Count	Share
Renter-Occupied	2,682	16.8%
Owner-Occupied	13,275	83.2%

Definition: This is the percentage of households that rent their home rather than own it. It includes only occupied housing units.

Why it matters: Areas with a high share of renter households often have younger populations, higher mobility, and different housing needs compared to mostly owner-occupied areas.

Example: If 65% of homes in an area are renter-occupied, it means 65 out of every 100 households rent their home.

📉 Renters Spending Over 30% of Income on Rent in ZIP Code 87031

In ZIP Code 87031, cost-burdened renters (households spending over 30% of income on housing): 1,278 (47.7%)

🏚️ What Does It Mean When Renters Spend Over 30% of Their Income on Housing?

Household Group	Households	Share
Cost-burdened renters (over 30%)	1,278	47.7%
Other renter households	1,404	52.3%
Total renter households	2,682	100%

Shares are calculated as a percentage of renter households.

This shows how many renters in the ZIP code are considered cost-burdened — meaning they spend more than 30% of their income on housing (rent and basic utilities).

It’s a sign that housing might be unaffordable in the area or that lower-income residents may be struggling with rent.

Data comes from the U.S. Census Bureau’s American Community Survey.

📊 Education Levels in ZIP Code 87031

Less than High School: 11,684 people (36.2%)

Includes adults who did not complete high school.

High School Graduate or GED: 10,561 people (32.7%)

Includes adults whose highest education is a high school diploma or GED.

Some College or Associate Degree: 3,474 people (10.8%)

Includes adults who attended college without completing a bachelor’s degree (some college or associate degree).

Bachelor’s Degree or Higher: 6,565 people (20.3%)

Includes adults with a bachelor’s degree or higher (bachelor’s, master’s, professional, or doctoral degree).

👥 Total Adults (25+): 32,284

ℹ️ Have questions about how these statistics are calculated? See our data methodology & FAQs

Source: ACS 5-Year Estimates (U.S. Census Bureau) — unemployment rate from BLS. Some values are derived metrics.