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These days, finding an affordable place to live in the Albuquerque area can be challenging. Home prices in Albuquerque are now at a median cost of $300,813, higher than the New Mexico average of $265,486.
The average cost of rent is $1,356/mo in Albuquerque, primarily driven by the current value of real estate in the Albuquerque area. In Albuquerque, 30.94% of households rent, and 39.55% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Albuquerque is $6,713 per month. Households that rent pay about 20.20% of their income on rent here. Albuquerque’s most expensive areas are in the northeastern regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Los Ranchos de Albuquerque, NM: higher priced homes
- North Valley, NM: higher priced homes
- Kirtland Afb, NM: equally priced homes
- South Valley, NM: less expensive homes
- Paradise Hills, NM: higher priced homes
- Corrales, NM: higher priced homes
- Rio Rancho, NM: equally priced homes
- Cedar Crest, NM: higher priced homes
- Zamora, NM: higher priced homes
- Sandia Park, NM: higher priced homes
Cities with Similar Populations
- Palm Coast, FL: higher priced homes
- Oshkosh, WI: less expensive homes
- Detroit, MI: less expensive homes
- Chicago, IL: higher priced homes
- Charlotte, NC: higher priced homes
- Chapel Hill, NC: higher priced homes
- Brooklyn, NY: higher priced homes
- Bronx, NY: higher priced homes
- Naples, FL: higher priced homes
- Norfolk, VA: equally priced homes
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