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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (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 561,008 people, 236,191 houses or apartments, and a median cost of homes of $311,629, 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 62.19% of the city's housing units. Other types of housing that are prevalent in Albuquerque include large apartment complexes or high rise apartments ( 20.47%), duplexes, homes converted to apartments or other small apartment buildings ( 8.06%), and a few row houses and other attached homes ( 5.40%).

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 59.56% owning and 40.44% 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 ( 25.88%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.93%). There's also some housing in Albuquerque built before 1939 ( 3.09%).

Albuquerque Home Appreciation Rates

Appreciation rates for homes in Albuquerque have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 85.93%, which ranks in the top 50% nationwide. This equates to an annual average Albuquerque house appreciation rate of 6.40%.

Appreciation rates are so strong in Albuquerque that despite a nationwide downturn in the housing market, Albuquerque real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Albuquerque appreciation rates continue to be some of the highest in America, at 8.22%, which is higher than appreciation rates in 90.11% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Albuquerque. Albuquerque appreciation rates in the latest quarter were at 4.47%, which equates to an annual appreciation rate of 19.13%.

Relative to New Mexico, our data show that Albuquerque's latest annual appreciation rate is lower 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

$311,629

Albuquerque, NM Home Prices
> $1,509,000
$1,132,001 - $1,509,000
$755,001 - $1,132,000
$604,001 - $755,000
$453,001 - $604,000
$302,001 - $453,000
$151,001 - $302,000
$75,001 - $151,000
$0 - $75,000
0.5%
0.5%
0.8%
0.8%
3.3%
3.3%
5.2%
5.2%
11.7%
11.7%
30.4%
30.4%
38.3%
38.3%
4.2%
4.2%
5.5%
5.5%
0% 100.0%
% of Homes
Very High

for New mexico

High

for nation

Number of Homes And Apartments:

236,191

Albuquerque Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,044 / per month

Homeownership Rate

Owners
Renters
Vacant
59.6%
59.6%
40.4%
40.4%
6.6%
6.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
21.9%
21.9%
49.1%
49.1%
25.9%
25.9%
3.1%
3.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.2%
62.2%
5.4%
5.4%
8.1%
8.1%
20.5%
20.5%
3.7%
3.7%
0.1%
0.1%
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%
13.5%
13.5%
22.3%
22.3%
42.0%
42.0%
15.6%
15.6%
2.4%
2.4%
0% 100.0%
% of Homes