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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 Q3 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (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 a population of 562,599, 229,701 total housing units (homes and apartments), and a median house value of $287,981, 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 62.58% of the city's housing units. Other types of housing that are prevalent in Albuquerque include large apartment complexes or high rise apartments ( 20.14%), duplexes, homes converted to apartments or other small apartment buildings ( 8.11%), and a few row houses and other attached homes ( 5.38%).

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 59.72% owning and 40.28% 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 ( 26.43%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.59%). There's also some housing in Albuquerque built before 1939 ( 3.03%).

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 5.32% during the period.

NeighborhoodScout's data show that during the latest twelve months, Albuquerque's appreciation rate, at 12.58%, has been at or slightly above the national average. In the latest quarter, Albuquerque's appreciation rate has been 3.29%, which annualizes to a rate of 13.81%.

Notably, Albuquerque's appreciation rate in the latest quarter is one of the lowest in America.

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:
$287,981

Albuquerque, NM HOME PRICES

> $1,438,000
$1,079,001 - $1,438,000
$719,001 - $1,079,000
$575,001 - $719,000
$431,001 - $575,000
$288,001 - $431,000
$144,001 - $288,000
$72,001 - $144,000
$0 - $72,000
0.4%
0.4%
0.6%
0.6%
2.7%
2.7%
4.2%
4.2%
10.5%
10.5%
29.5%
29.5%
41.9%
41.9%
4.9%
4.9%
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:
229,701

Albuquerque Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NM*
Compared To
America*
Latest Quarter:
2022 Q2 - 2022 Q3
Last 12 Months:
2021 Q3 - 2022 Q3
Last 2 Years:
2020 Q3 - 2022 Q3
Last 5 Years:
2017 Q3 - 2022 Q3
Last 10 Years:
2012 Q3 - 2022 Q3
Since 2000:
2000 Q1 - 2022 Q3
119.88% 3.52%
6
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,700 / per month

Homeownership Rate

Owners
Renters
Vacant
59.7%
59.7%
40.3%
40.3%
7.4%
7.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
20.6%
20.6%
49.9%
49.9%
26.4%
26.4%
3.0%
3.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.6%
62.6%
5.4%
5.4%
8.1%
8.1%
20.1%
20.1%
3.6%
3.6%
0.2%
0.2%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.3%
4.3%
13.2%
13.2%
22.4%
22.4%
42.2%
42.2%
15.5%
15.5%
2.3%
2.3%
0.0% 100.0%
% OF HOMES