Caballo is a community in Sierra County, New Mexico, home to about 233 people across 1.0 square miles. Its ZIP code is 87931.
Homes sold for a median of $124 per square foot in the three months ending August 2026, a buyer’s market.
Mostly Caballo; also Oasis
Each card is that ZIP code’s whole market, including any part outside Caballo. Seller’s market: under 4 months of supply; buyer’s market: over 6. Methodology
We’re writing up Caballo’s story and what everyday life there is like, for people thinking about moving in.
Are you a local agent who knows Caballo well? Agents who advertise here will be able to write the guide. Advertise on OfferBacked
| Nearest major airport | El Paso International Airport (ELP)100 miles away |
|---|---|
| Closer regional airport | Grant County Airport (SVC)49 miles away |
| Nearest city of 250,000+ | El Paso, TX96 miles away |
| Nearest city of 1 million+ | Phoenix, AZ273 miles away |
Straight-line distances from the center of Caballo; driving is longer.
Source: Airports from OurAirports (scheduled passenger service); city centers and populations from the U.S. Census Bureau.
Source: Members of Congress from the congress-legislators project; districts from the Census Bureau’s relationship files; governor and mayor from Wikidata.
Caballo had 77 residents in the 2020 census, down 31% since 2010.
It’s the 346th largest of 494 towns in New Mexico by population.
Sierra County grew from 3,158 residents in 1900 to 11,576 in 2020.
Sierra County, 1900–2020
Source: U.S. Census Bureau decennial censuses (counties 1900–1990 from the Bureau’s historical county file).
Average highs peak around 98°F in summer, and winter lows average 29°F. About 10.7 inches of rain and melted snow fall in a typical year, with about 0 inches of snow.
Source: NOAA 1991–2020 climate normals, Caballo Dam, NM weather station (8 miles away).
2,180 jobs at 222 businesses in Sierra County. The biggest industries by employees:
Source: U.S. Census Bureau County Business Patterns 2023 (private employers; jobs counted where people work).
Nearest hospitals
Source: Hospitals from CMS Hospital General Information (ratings are CMS overall star ratings); straight-line distances.
Buying or selling around Caballo? Tell us what you need and when. No agents advertise here yet, so we’ll keep your request for up to 30 days and send it to local agents who join. No obligation, and you choose who to work with.
Loading map…
Shares ZIP codes with Oasis.
Town boundaries don’t always match ZIP codes: a ZIP code can cross into neighboring towns, and a town can share a ZIP code with its neighbors. Facts describe the town itself; market figures describe whole ZIP codes.