Albuquerque Real Estate Market 2020

Albuquerque Housing Market Trends & Statistics 2020

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 three bedroom home in Albuquerque was $204,000 in 2019. This is 8% less than the median value nationwide.
• In some Albuquerque neighborhoods it’s possible to purchase homes for a median $140,000, which is 37% less than the average three bedroom home nationwide.
• This shows us that Albuquerque real estate is more affordable than many other US markets today.

Albuquerque offers a moderate income opportunity.

• In 2019, the median monthly rent of an average three bedroom home in the U.S. was $1,670, which is 0.75% of the median purchase price of $222,000.
• The median monthly rent of the average three bedroom home in Albuquerque was $1,226, which is 0.6% of the median purchase price of $204,000.
• In the neighborhoods where RealWealth members invest, the median monthly rent of R.E.A.L. Income Properties™ was $1,250. This is 0.89% of the median purchase price of $140,000.
• This shows us that, in some Albuquerque neighborhoods, there’s an opportunity to generate passive monthly cash flow in Albuquerque at a higher rent-to-purchase ratio than the national average.       

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

• Over the last 6 years, the average 3 bedroom single family home in the Albuquerque metro has appreciated at a steady rate of 4.3% per year (23.6% total) versus 9.2% per year (55.2% total) nationwide.

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

• Since 2012, the median rental price for 3 bedroom single family homes in Albuquerque has appreciated at a rate of 1.4% per year (8.7% total) versus 1.5% per year (9.5% 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 2.96%. The national population grew by 5.76% during this 7-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 2018 and November 2019 the number of jobs in the Albuquerque metro increased at a rate of 0.89% which is 39% lower than the national average.

Albuquerque is Affordable

• 3-bedroom homes in Albuquerque are 8% more affordable than the median value nationwide.
• In the neighborhoods where RealWealth members invest home values are 37% less than the average 3 bedroom home nationwide.
• This shows us that Albuquerque real estate is uniquely affordable.

Albuquerque Offers Cash Flow Opportunities

• 3 bedroom homes in Albuquerque can rent for up to 0.89% of the purchase price in some neighborhoods, compared to 0.75% nationally.

Albuquerque is Stable

• Over the last 7 years, the average 3 bedroom single family home in the Albuquerque metro has appreciated by 4.3% and the median rental price has appreciated by 8.69%
• 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 2.96%. Although this is less than the 5.76% growth experienced nationwide, this shows us that Albuquerque 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 Creating New Jobs

• Between November 2018 and November 2019 the number of jobs in the Albuquerque metro increased at a rate of 0.89%, which is slower than the 1.47% job growth rate nationally during this period.