In north-central New Mexico, in the foothills of the Sangre de Cristo Mountains, is the state’s capital, Santa Fe. The heart of the city—whose population is 89,008, according to census data—is its 400-year-old plaza. But outside of town, the 87506 ZIP Code has Santa Fe’s priciest residential real estate as ranked by median listing price, according to Realtor.com. ( News Corp , parent of The Wall Street Journal, operates Realtor.com.) The ZIP Code is a roughly 200-square-mile circle beginning just north of the plaza and extending about 35 minutes northeast and 45 northwest into open land, where gated communities like Las Campanas and large estates offer luxury country living while being close to the city’s culturally-rich energy.

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