Gallup, NM — Momentum Score, Home Values & Best-For

All states·New Mexico·Gallup

McKinley County · Gallup · population 20,339

First-time buyersShrinkingSmall-town feel

Overview Cost of living Moving guide

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Stable

Momentum score · 0–100

Where Gallup stands

At or near all-time high. population shrinking 1.8% per year.

Median home $219,929

1-year +0.6%

5-yr CAGR +2.4%

vs 5-yr peak -0.2%

Population -1.8%/yr

Home value trajectory · last 10 years

Zillow ZHVI · monthly

Lifestyle scores

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Walkability

32/100

Very car-dependent

Estimated from population density. Higher = denser, more amenities within walking distance.

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Public transit

15/100

Transit limited

Curated list of major US transit systems + population-based estimate. Higher = real subway/rail/bus options.

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Remote work fit

64/100

Workable for remote workers

Composite of city size, housing cost, state tax structure, and region's remote-work track record.

Scores are heuristic estimates from population density, state, and known transit/walkable cities. Not based on a paid Walk Score / Transit Score API — see methodology for the formula.

How the momentum score breaks down

methodology →

Home YoY

53 · w22%

Home 5-yr CAGR

49 · w22%

Distance from peak

89 · w18%

Population growth

18 · w16%

Home 10-yr CAGR

49 · w10%

Long thesis

Gallup has held up across the cycle: home values at $219,929 with +2.4% 5-year CAGR. The bull case is structural — population, location, employer base — and holds even if next year's print is soft.

Short thesis

Gallup's population is shrinking 1.8% per year. Housing demand has to come from somewhere — if people are leaving, the buyer pool is shrinking faster than the inventory. That eventually shows up in price.

About Gallup

Gallup is a city in McKinley County, New Mexico, with an estimated population of 20,339. The population has contracted 1.8% per year on average since 2020. The median home value in Gallup is $219,929 as of 2026-04, up 0.6% over the last 12 months. Over the last five years, home values have averaged +2.4% annual growth, with prices at or near the 5-year peak. The composite momentum score is 53 of 100 (Stable). Conditions are neither hot nor cold, so the local fit matters more than market timing.

▲ Bull case

●Held the highs: currently -0.2% from the 5-year peak — this market refused to give back gains.

○The data is the data: Gallup has at least 5 years of Zillow tracking, full Census identification, and is included in the 2-criteria momentum score on this page.

▼ Bear case

●Net out-migration: population shrinking 1.8% per year — services, schools, and tax base will follow.

○Local nuance: city-level data smooths over neighborhood differences. School zones, HOA rules, and street-level character matter — visit before deciding.

Playbook

Buyer

Lifestyle fit matters more than market timing in a Stable market. Take your time on the home and neighborhood; the macro trend isn't urgent. Negotiate normally.

Seller

Price competitively from day one or risk a 60+ day listing. Staging, photography, and presentation matter more in Stable markets than in Hot ones.

Investor

Stable cap rates, no big appreciation story to lean on. Underwrite this as a pure cash-flow play — the math has to work on rent alone.

Local safety & alerts

No active National Weather Service alerts for McKinley County right now.

NWS active alerts (NM)New Mexico Emergency Management How to prepare (NWS)

Public-safety links are official .gov sources, not curated by us. McKinley County routes NWS alerts; check the state EM portal for non-weather emergencies.