Albuquerque, NM Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Albuquerque, NM Housing Market Trends

With 560,513 people, 224,166 houses or apartments, and a median cost of homes of $232,997, Albuquerque real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Albuquerque, accounting for 62.38% of the city's housing units. Other types of housing that are prevalent in Albuquerque include large apartment complexes or high rise apartments ( 19.83%), duplexes, homes converted to apartments or other small apartment buildings ( 8.48%), and a few row houses and other attached homes ( 5.36%).

The most prevalent building size and type in Albuquerque are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.11% owning and 40.89% renting.

There is a lot of housing in Albuquerque built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Albuquerque built between 1940-1969 ( 26.19%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.57%). There's also some housing in Albuquerque built before 1939 ( 2.81%).

Albuquerque Home Appreciation Rates

Real estate appreciation rates in Albuquerque's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.63% during the period.

NeighborhoodScout's data show that during the latest twelve months, Albuquerque's appreciation rate, at 7.69%, has been at or slightly above the national average. In the latest quarter, Albuquerque's appreciation rate has been 2.12%, which annualizes to a rate of 8.73%.

Relative to New Mexico, our data show that Albuquerque's latest annual appreciation rate is higher than 60% of the other cities and towns in New Mexico.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Albuquerque differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Albuquerque - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Albuquerque real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$232,997

Albuquerque, NM HOME PRICES

> $1,210,000
0.6%
0.6%
$908,001 - $1,210,000
0.9%
0.9%
$605,001 - $908,000
2.3%
2.3%
$484,001 - $605,000
3.6%
3.6%
$363,001 - $484,000
10.2%
10.2%
$242,001 - $363,000
27.1%
27.1%
$121,001 - $242,000
44.2%
44.2%
$61,001 - $121,000
5.9%
5.9%
$0 - $61,000
5.3%
5.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for NM

Value Relative To Nation

Number Of Homes And Apartments:
224,166

Albuquerque Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NM*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
75.69% 2.69%
4
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,281 / per month

Homeownership Rate

Owners
59.1%
59.1%
Renters
40.9%
40.9%
Vacant
8.7%
8.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
20.6%
20.6%
1970 - 1999
50.4%
50.4%
1940 - 1969
26.2%
26.2%
1939 or Older
2.8%
2.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
62.4%
62.4%
Townhomes
5.4%
5.4%
Small Apt. Buildings
8.5%
8.5%
Apt. Complexes
19.8%
19.8%
Mobile Homes
3.8%
3.8%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.9%
3.9%
1 Bedroom
12.8%
12.8%
2 Bedrooms
23.3%
23.3%
3 Bedrooms
42.0%
42.0%
4 Bedrooms
15.8%
15.8%
5 or more bedrooms
2.3%
2.3%
0.0% 100.0%
% OF HOMES