Is Los Lunas, New Mexico a Smart Place to Buy Land?
Nicknamed “The Moon,” Los Lunas is a village in Valencia County, New Mexico. Although the term “village” often brings to mind images of small towns, Los Lunas boasts a growing population, affordable housing and spans 10 mi.². With ample opportunities to invest in both real estate and land, Los Lunas is a smart place to invest.
Los Lunas History
In 1716, Don Felix Candelaria took possession of the land in the Los Lunas area through a land grant, but after two years, he granted the land to the Luna family. This is where the village gets its name from. A few Civil War battles were fought near Los Lunas. The village would become the county seat in 1876, and incorporated in 1928.
The Santa Fe Railroad line eventually made its way to Los Lunas, and a depot was built to help with the movement of hay, livestock, merchandise and supplies. The depot also served as a baggage and passenger service, and was used for telegraph communications.
Antonio J. Archuleta was the village’s first mayor after it incorporated in 1928. In the early 1930s, electricity would arrive in the village. By the late 1930s, Los Lunas had water and sewer facilities. At the time, the population was around 513. On April 15, 1862, a skirmish was fought at Peralta during the Civil War. Peralta is an unincorporated community in the northern part of Los Lunas. After the event, the Confederate Army retreated south. An US Army Air Force bombing range was also located in Los Lunas during World War II.
Population, Geography and Demographics
According to the 2010 census, Los Lunas village has a population of 14,835. The total population, according to the census, is approximately 24,877 thanks to housing developments at El Cerro de Los Lunas. While the population may seem small, it’s been going over the last 15 years. In 2000, there were only 10,034 people in the village. There are over 4,000 more people in the village limits alone, and over 14,000 new people in the entire Los Lunas area.
The village is home to over 3,000 households, with nearly half of the homes having children under the age of 18. Most households belong to married couples.
The median household income in Los Lunas is $36,240, and the median income for families is $37,255. Growth has been rapid for Los Lunas, and was especially rapid between 1990 and 2000. Since 2000, Los Lunas has had a population growth rate of 52.5%. The village was also the site of two episodes of Breaking Bad, which draws tourists to the area.
According to the US Census Bureau, Los Lunas encompasses a total of 10.1 mi.², and all of that is land. The village is located along the Albuquerque basin on the western bank of the Rio Grande.
Weather in Los Lunas is favorable. The average high in January is 52.6°, while the average high in August is 91.5°. July is the hottest month at 94°. On average, the city receives 9.83 inches of rain, and 6.1 inches of snow.
The most common industries in the village of Los Lunas include:
* Educational services
* Health care
* Public administration
* Accommodation and food services
* Finance and insurance
Los Lunas is also home to several parks, including Daniel Fernandez Memorial Park, Los Lunas Sportsplex, Heritage Park, Buena Vista Park, Huning Ranch Park and San Antonio Park.
Real Estate Market and Land
The real estate market in Los Lunas is holding steady and slowly growing. The average listing price for homes in the village is $187,201. As of October 28, 2015, there were 587 homes for sale and 88 either in foreclosure or up for auction.
With a quick search, we were able to find the following example listings:
* A 3bd 2ba 1,276 sqft home on a 6,969 sqft lot for $128,500.
* A 3bd 3ba 2,216 sqft home on an 8,600 sqft lot for $230,000.
* A 3bd 2ba 1,236 sqft home on a 6,534 sqft lot for $79,999.
* A 3bd 2ba 1,900 sqft home on a 3,484 sqft lot for $205,000.
While the real estate market may not be impressive, the land market is. Land in Los Lunas is plentiful, and affordable. But it also boasts a great location that makes it an excellent choice for commercial development. And the city government is welcoming to investors looking to develop in the city.
A one-acre lot sells for approximately $30,000 in the village, although you’ll find that larger, build-ready lots are selling for much higher prices. One current listing is for 5 acres of land, and is currently going for $500,000.
Right now, there’s also a listing for commercial land in a prime location on NM Main Street. This 8-acre property is listed for $1,624,000, which is a steal considering its location. Find latest available Los Lunas land here.
Los Lunas is just 20 miles south of Albuquerque, the largest city in New Mexico. It’s also close to the BNSF Railway. According to the village’s data, the village’s trade area includes 210,200 people. The city also sees quite a bit of traffic, with 50,000 vehicles on average passing through or nearby each day.
Currently, the village is actively pursuing a total of 6 sectors of economic development, including:
* Digital Media
* Light Manufacturing
* Transportation and Logistics
If you’re considering commercial development in one of these key areas, you should have no issues gaining approval from the city. In fact, they’ll likely welcome you with open arms. The village is hoping to attract new developers, so this is your opportunity to invest in a growing area.
With ample opportunities for commercial development in the village and its close proximity to New Mexico’s largest city, Los Lunas is a smart place to invest in land. Prices are relatively affordable, especially if you look just outside the village limits. Right in town, you can still grab a large plot of land for a surprisingly low price. Los Lunas is the perfect location to open a retail store, or even purchase a piece of land to be used for agricultural purposes.
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