Bernalillo County, New Mexico Housing Market Prices
Bernalillo County 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 28% above the New Mexico median More expensive than 78% of counties in New Mexico$260,969
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Median rent 7% above the New Mexico median Among the 5 most expensive counties in New Mexico$1,145
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Bernalillo County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $260,969 | $204,122 | $248,835 |
| Price Trend (Annual %) | 5.6% | 3.1% | 7.5% |
| Median Gross Rent | $1,145 | $1,067 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bernalillo County is about 28% higher than in New Mexico. Rent is about 7% 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 Bernalillo County, up about 5.6% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Bernalillo County rose about 43.5% between 2015 and 2024, from $798 to $1,145. Over the same span, rent in New Mexico rose about 37.3%.
Affordability
On average, housing unit costs 3.7 yearly household incomes in Bernalillo County.
Buying the median-priced home in Bernalillo County costs roughly 19.0 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 Bernalillo County. The price-to-rent ratio in New Mexico is about 15.9.
| Metric | Bernalillo County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $260,969 | $204,122 | $248,835 |
| Median Household Income | $69,651 | $64,523 | $80,455 |
| Price-to-Income Ratio | 3.7 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Bernalillo County rose about 51.2%, while median household income rose about 46.4% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Bernalillo County | New Mexico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.9% | 61.3% | 58.5% |
| Rental Rate | 33.4% | 26.2% | 31.2% |
| Vacancy Rate | 5.7% | 12.5% | 10.2% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Bernalillo County has a homeownership rate of 60.9%, about the same as the New Mexico average of 61.3%. Its housing vacancy rate is 5.7%, compared with 12.5% in New Mexico.
Housing Stock
| Metric | Bernalillo County | New Mexico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.34 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1981 | 1983 | 1978 |
| Median Number of Rooms | 5.4 | 5.3 | 5.5 |
The typical housing unit in Bernalillo County was built around 1981. On average, 2.3 people live in a home with about 5.4 rooms, staying for about 15.0 years on average.
Bernalillo County, NM Housing Compared With Nearby Counties
Bernalillo County, NM is the largest of the 5 counties compared here, 672,163 residents against a local median of 86,497. Bernalillo County, NM's homeownership, at 64.6%, runs 17% below the 78.3% typical of the counties around it. That is the weaker end of the local range on this measure.
Median rent tells the same story from another angle: $1,145 against a local median of $1,381, 17% below it. The counties themselves spread 12.0% on homeownership, so Bernalillo County, NM sits at one end of an already wide local range rather than apart from it. Bernalillo County, NM has the 5th highest homeownership of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Bernalillo County, NM | 672,163 | $260,969 #3/5 | $1,145 #4/5 | 64.6% #5/5 |
| Sandoval County, NM | 153,584 | $302,768 | $1,426 | 83.5% |
| Santa Fe County, NM | 155,407 | $448,701 | $1,389 | 71.5% |
| Los Alamos County, NM | 19,409 | $245,215 | $1,374 | 74.8% |
| Torrance County, NM | 15,478 | $197,226 | $871 | 81.7% |
Frequently Asked Questions
Common questions about the housing market in Bernalillo County, New Mexico.
What is the median home price in Bernalillo County, New Mexico?
The median home price in Bernalillo County, New Mexico is $260,969, higher than the New Mexico average of $204,122.
What is the average home price in Bernalillo County, New Mexico?
The typical home price in Bernalillo County, New Mexico, reported as the median sale price, is $260,969. 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 Bernalillo County, New Mexico?
The median gross rent in Bernalillo County, New Mexico is $1,145 per month, higher than the New Mexico average of $1,067.
What was the median gross rent in Bernalillo County in 2020?
In 2020, the median gross rent in Bernalillo County, New Mexico was $892 per month.
What is the price-to-rent ratio in Bernalillo County, New Mexico?
The price-to-rent ratio in Bernalillo County, New Mexico is about 19.0, meaning it would take roughly 19.0 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 Bernalillo County.
Are home prices or rent rising faster in Bernalillo County, New Mexico?
Both home prices and rent are rising in Bernalillo County, up about 5.6% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bernalillo County, New Mexico?
60.9% of households in Bernalillo County, New Mexico own their home, lower than the New Mexico average of 61.3%.
What is the vacancy rate in Bernalillo County, New Mexico?
The housing vacancy rate in Bernalillo County, New Mexico is 5.7%, lower than the New Mexico average of 12.5%.
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