Why Live in Madrid
Madrid, a neighborhood in Cerrillos, is nestled along the scenic Turquoise Trail, featuring homes primarily consisting of miner’s cabins from the 1870s to 1930s. These brightly painted homes often include wraparound porches, pitched metal roofs, and board and batten exteriors, situated on quarter-acre lots with gardens and artist studios. The area is surrounded by desert hills with undeveloped parcels available for those looking to build, though water sourcing can be costly. Madrid is known for its vibrant community and unique attractions, including the Mine Shaft Tavern and Cantina, Refinery 14, and Java Junction. Art enthusiasts can explore local galleries like Indigo Gallery and Belle of the West. The neighborhood lacks a grocery store, with the nearest Walmart Supercenter located 20 miles away in Santa Fe. Residents enjoy outdoor activities at nearby Cerrillos Hills State Park, which offers over 1,100 acres of trails and historic mines. The Oscar Huber Memorial Ballpark hosts local baseball games and special events. Community events, such as the Madrid Christmas Parade, foster a strong sense of local pride. The Turquoise Trail provides picturesque commutes to Santa Fe, 28 miles north, and Albuquerque, 46 miles south. Public transportation is available via North Central Regional Transit District buses. For education, local children attend Santa Fe Public Schools, with Santa Fe High being highly rated. The area has a low crime risk compared to the national average, contributing to its appeal for potential home buyers.
Frequently Asked Questions
Is Madrid a good place to live?
Madrid is a good place to live. Madrid is considered very car-dependent and somewhat bikeable. Madrid has 2 parks for recreational activities. It has a median age of 61. The average household income is $39,031 which is below the national average. College graduates make up 51.7% of residents. A majority of residents in Madrid are home owners, with 26.3% of residents renting and 73.7% of residents owning their home. A
local real estate agent serving Madrid can help you decide if this neighborhood is the right one for you. Learn more on our
Madrid neighborhood guide.
How much do you need to make to afford a house in Madrid?
The median home price in Madrid is $444,000. If you put a 20% down payment of $88,800 and had a 30-year fixed mortgage with an interest rate of 6.26%, your estimated principal and interest payment would be $2,190 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $94K a year to afford the median home price in Madrid. The average household income in Madrid is $39K.
What are the best public schools in Madrid?
The best public schools that serve Madrid are:
What are the most popular zip codes in Madrid, Cerrillos, NM?
What are the most popular neighborhoods near Madrid, Cerrillos, NM?
Home Trends in Madrid, NM
On average, homes in Madrid, Cerrillos sell after 151 days on the market compared to the national average of 52 days. The median sale price for homes in Madrid, Cerrillos over the last 12 months is $380,000, up 15% from the median home sale price over the previous 12 months.
Median Sale Price
$380,000
Median Single Family Sale Price
$408,500
Average Price Per Sq Ft
$653
Number of Homes for Sale
6
Last 12 months Home Sales
5
Median List Price
$444,000
Median Change From 1st List Price
14%
Median Home Sale Price YoY Change
15%