Albuquerque Real Estate Market 2021

Albuquerque Housing Market Trends & Statistics 2021

In this section, you’ll learn about the top factors that make the Albuquerque real estate market one of the most popular for 2021, including: affordable home values, passive income, and a quickly growing job market. Explore Albuquerque’s housing market, population, and employment trends in the tabs to learn more.

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Data Sources:

• https://factfinder.census.gov/
• https://www.deptofnumbers.com/
• https://www.zillow.com/
• RealWealth Property Team Data

The Albuquerque real estate market is affordable.

• The median price of the average  home in Albuquerque was $219,000 in 2020. This is 14% less than the median home value nationwide.
• In some Albuquerque neighborhoods, it’s possible to purchase homes for a median $150,000, which is 41% less than the average home nationwide.
• This shows us that Albuquerque real estate is much more affordable than most other US markets today.

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Albuquerque offers a solid income opportunity.

• In 2020, the median monthly rent of an average home in the U.S. was $1,700, which is 0.68% of the median purchase price of $254,000.
• The median monthly rent of the average home in Albuquerque was $1,180, which is 0.54% of the median purchase price of $254,000.
• In the neighborhoods where RealWealth members invest, the median monthly rent of R.E.A.L. Income Properties™ was $1,300. This is 0.87% of the median purchase price of $150,000.
• This shows us that, in some Albuquerque neighborhoods, there is an opportunity to generate passive monthly cash flow at a rent-to-purchase ratio well above the national average.       

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Albuquerque home values have been rising over the last six years.

• Over the last 6 years, the average home in the Albuquerque metro has appreciated at a steady rate of 3.89% per year (25.77% total) versus 5.31% per year (38.38% total) nationwide.

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Albuquerque rents have also been rising over the last six years.

• Since 2014, the median rental price for an average home in Albuquerque has appreciated at a rate of 3.10% per year (20.13% total) versus 3.52% per year (23.03% total) nationwide.
• All of this tells us that, while Albuquerque home values and rents are rising, the area is not experiencing the wild appreciation or depreciation swings of many other markets. This is a good indication that the Albuquerque real estate market is a bit more stable than other U.S. markets, which makes investing here less-risky.

Albuquerque has been experiencing steady population growth.

• Since 2010, the population in Albuquerque has increased by 3.20%. The national population grew by 6.11% during this 9-year period.
• This shows us that the Albuquerque housing market is experiencing consistent growth year after year. And although this growth isn’t staggering, it’s another indicator that Albuquerque’s real estate market will continue to be stable in years to come.

Albuquerque is experiencing steady job growth.

• Between November 2019 and November 2020, the number of jobs in the Albuquerque metro decreased at a rate of 2.87% and suffered 11,500 job losses. However, compared to the rest of the nation, Albuquerque fared over 53% better in terms of job losses. This tells us that the job market in Albuquerque is very solid.

Albuquerque is Affordable

• Average homes in Albuquerque are 14% more affordable than the median value nationwide.
• In the neighborhoods where RealWealth members invest, home values are 41% less than the average home nationwide.
• This shows us that Albuquerque real estate is uniquely affordable.

Albuquerque Offers Cash Flow Opportunities

• Average homes in Albuquerque can rent for up to 0.87% of the purchase price in some neighborhoods, compared to 0.68% nationally.
• This shows us that Albuquerque is not only affordable, it has great cash flow opportunities for investors.

Albuquerque is Stable

• Over the last 6 years, the average home in the Albuquerque metro has appreciated by 26% and the median rental price has appreciated by 20.13%
• This tells us that, while Albuquerque home values and rents are rising, the area is not experiencing the wild appreciation or depreciation swings of many other markets. This is a good indication that the Albuquerque real estate market is a bit more stable than other U.S. markets, which makes investing here less-risky.

Albuquerque’s Population is Steadily Growing

• Since 2010 the population in Albuquerque has increased by 3.20%. Although this is less than the 6% growth experienced nationwide, this shows us that Albuquerque is experiencing consistent growth year after year. And although this growth isn’t substantial, it’s another indicator that Albuquerque’s real estate market will continue to be stable in years to come.

Albuquerque is Creating New Jobs

• Between November 2019 and November 2020 the number of jobs in the Albuquerque metro decreased at a rate of 3%, which is better than the 6% decline in jobs nationally during this period.