Albuquerque, New Mexico Housing Market Prices
Albuquerque Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 25% above the New Mexico median$254,746
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Median rent 6% above the New Mexico median$1,135
Housing Market Overview
| Metric | Albuquerque | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $254,746 | $204,122 | $248,835 |
| Price Trend (Annual %) | 5.4% | 3.1% | 7.5% |
| Median Gross Rent | $1,135 | $1,067 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Albuquerque is about 25% higher than in New Mexico. Rent is about 6% higher than the New Mexico average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Albuquerque, up about 5.4% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Albuquerque rose about 44.2% between 2015 and 2024, from $787 to $1,135. Over the same span, rent in New Mexico rose about 37.3%.
Affordability
On average, housing unit costs 3.8 yearly household incomes in Albuquerque.
Buying the median-priced home in Albuquerque costs roughly 18.7 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Albuquerque. The price-to-rent ratio in New Mexico is about 15.9.
| Metric | Albuquerque | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $254,746 | $204,122 | $248,835 |
| Median Household Income | $67,348 | $64,523 | $80,455 |
| Price-to-Income Ratio | 3.8 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Albuquerque rose about 46.8%, while median household income rose about 46.5% between 2009 and 2025 — keeping pace with each other.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Albuquerque | New Mexico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.8% | 61.3% | 58.5% |
| Rental Rate | 36.6% | 26.2% | 31.2% |
| Vacancy Rate | 5.7% | 12.5% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Albuquerque has a homeownership rate of 57.8%, lower than the New Mexico average of 61.3%. Its housing vacancy rate is 5.7%, compared with 12.5% in New Mexico.
Housing Stock
| Metric | Albuquerque | New Mexico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.27 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1981 | 1983 | 1978 |
| Median Number of Rooms | 5.3 | 5.3 | 5.5 |
The typical housing unit in Albuquerque was built around 1981. On average, 2.3 people live in a home with about 5.3 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Albuquerque, New Mexico.
What is the median home price in Albuquerque, New Mexico?
The median home price in Albuquerque, New Mexico is $254,746, higher than the New Mexico average of $204,122.
What is the average home price in Albuquerque, New Mexico?
The typical home price in Albuquerque, New Mexico, reported as the median sale price, is $254,746. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Albuquerque, New Mexico?
The median gross rent in Albuquerque, New Mexico is $1,135 per month, higher than the New Mexico average of $1,067.
What was the median gross rent in Albuquerque in 2020?
In 2020, the median gross rent in Albuquerque, New Mexico was $883 per month.
What is the price-to-rent ratio in Albuquerque, New Mexico?
The price-to-rent ratio in Albuquerque, New Mexico is about 18.7, meaning it would take roughly 18.7 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Albuquerque.
Are home prices or rent rising faster in Albuquerque, New Mexico?
Both home prices and rent are rising in Albuquerque, up about 5.4% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Albuquerque, New Mexico?
57.8% of households in Albuquerque, New Mexico own their home, lower than the New Mexico average of 61.3%.
What is the vacancy rate in Albuquerque, New Mexico?
The housing vacancy rate in Albuquerque, New Mexico is 5.7%, lower than the New Mexico average of 12.5%.
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