Photo: Quintin Soloviev · CC BY 4.0Measured against Albuquerque-area pay, Albuquerque costs more to live in than 77% of U.S. towns
It ranks #61 of 72 in New Mexico and #146 of 400 U.S. cities over 100,000 for affordability. Up 1.7% in a year, 9% above the New Mexico typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Albuquerque, NM metro area ($71K). How TownRatings grades cost of living
The grade compares costs with what households across the Albuquerque metro earn ($71K, Census 2020–24). Even so, the typical home costs 4.1 years of metro income, and 52% of renters pay 30% or more of income for housing.
In dollars
- $344Ktypical home, 9% above the New Mexico typical homeZillow, September 2026
- $1,560a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
- 96prices across the Albuquerque metro, where the U.S. is 100 (housing 89)BEA Regional Price Parities, 2024
In paychecks the grade
- 4.1 yrsof area income buys the typical home; the typical U.S. town: 3.3$71K, Albuquerque-area income
- 19%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 52%of renters pay 30%+ of income for housing; across New Mexico: 50%Census 2020–24
- 22%of owners do; the typical U.S. town: 20%Census 2020–24
What Albuquerque’s housing numbers say
A high property tax rate
Owners pay about 0.92% of a home’s value a year in property tax, against 0.70% across New Mexico. The median bill is $2,678 (New Mexico: $1,731). On the typical home, that’s about $260 a month. Property taxes ↓
A median income goes further next door
At Albuquerque’s median income, the calculator’s budget of about $264K falls short here but covers the typical home in South Valley ($224K). Can I afford it? ↓
Written from the data on this page. Home values are the Zillow Home Value Index, through September 2026; sales and supply are Redfin’s for September 2026; permits are Census figures through 2025; incomes, rents paid, taxes and ownership come from the Census American Community Survey.
What’s behind Albuquerque’s grade
Measured against what households in the area earn, Albuquerque is more affordable than 23% of U.S. towns, #61 of 72 in New Mexico. The share of households paying 30%+ for housing pulls the grade down most; property tax holds it up.
Prices here have kept pace with New Mexico: up 28.9% in five years, against 25.1% statewide (Zillow).
Up 28.9% in five years
Faster than New Mexico (25.1%).
Show as a table
| January | Albuquerque | New Mexico |
|---|---|---|
| 2017 | $184,000 | $177,000 |
| 2018 | $189,000 | $183,000 |
| 2019 | $197,000 | $191,000 |
| 2020 | $212,000 | $203,000 |
| 2021 | $239,000 | $228,000 |
| 2022 | $277,000 | $261,000 |
| 2023 | $305,000 | $285,000 |
| 2024 | $325,000 | $299,000 |
| 2025 | $337,000 | $310,000 |
| 2026 | $341,000 | $313,000 |
| September 2026 | $344,000 | $316,000 |
A typical Albuquerque home worth $182K in October 2016 is worth about $344K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
A seller's market
Supply is tight — about 2.7 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Under ~4 months of supply favors sellers; over ~6 favors buyers.
Redfin Data Center, all residential sales, September 2026.
A typical home costs 4.1 years of area income
The calculator starts from the area income the grade uses. Switch to Albuquerque’s own median, or type yours.
That’s $69K short of a typical Albuquerque home.
A two-bedroom rents for about $1,560 a month here, $510 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Albuquerque’s typical property tax (0.92% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,560
Renters already here pay a median of $1,145, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Albuquerque, NM MSA): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
1,417 new homes permitted in 2025
Builders were permitted 1,417 new homes in Albuquerque in 2025: 525 single-family houses and 892 in buildings with two or more homes, worth about $219.3 million to build. That's 2.5 per 1,000 residents, slower than across New Mexico (5.2). Over the past 10 years, Albuquerque has permitted 12,529 homes in all.
Between the 2010 and 2020 censuses, Albuquerque gained 18,707 residents while 12,044 new homes were permitted: about 1.6 new residents per new home, more than across New Mexico (1.2): growth outpaced building.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 1,302 | 394 | 908 | $243.4 million |
| 2025 | 1,417 | 525 | 892 | $219.3 million |
| 2024 | 1,099 | 525 | 574 | $136.9 million |
| 2023 | 1,099 | 587 | 512 | $144.7 million |
| 2022 | 1,609 | 707 | 902 | $224.4 million |
| 2021 | 1,667 | 773 | 894 | $278.9 million |
| 2020 | 865 | 865 | 0 | $209.9 million |
| 2019 | 1,094 | 906 | 188 | $214.6 million |
| 2018 | 1,115 | 1,115 | 0 | $222.7 million |
| 2017 | 1,272 | 1,088 | 184 | $228.1 million |
| 2016 | 1,292 | 913 | 379 | $219.2 million |
| 2015 | 1,142 | 973 | 169 | $206.2 million |
| 2014 | 1,416 | 1,110 | 306 | $209.2 million |
| 2013 | 1,474 | 434 | 1,040 | $158.5 million |
| 2012 | 1,199 | 455 | 744 | $144.7 million |
| 2011 | 1,024 | 754 | 270 | $156.1 million |
| 2010 | 1,016 | 814 | 202 | $161.5 million |
| 2009 | 943 | 784 | 159 | $152.8 million |
| 2008 | 1,547 | 1,067 | 480 | $227.3 million |
| 2007 | 2,767 | 2,096 | 671 | $447.6 million |
| 2006 | 4,177 | 3,420 | 757 | $568.7 million |
| 2005 | 5,078 | 4,764 | 314 | $674.7 million |
| 2004 | 5,497 | 5,119 | 378 | $660.9 million |
| 2003 | 6,181 | 5,084 | 1,097 | $607 million |
| 2002 | 5,429 | 4,217 | 1,212 | $480.6 million |
| 2001 | 4,341 | 3,671 | 670 | $395.6 million |
| 2000 | 3,522 | 3,412 | 110 | $328.2 million |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Property tax runs above the New Mexico norm
The median bill is $2,678 (New Mexico: $1,731), 0.92% of a home’s value a year, against 0.70% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
The rest of a budget near Albuquerque
Only figures published free for the whole country, each labeled with the area it covers: the Albuquerque, NM metro area, or New Mexico. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Prices overall U.S. = 100 | 96 | NM 92 | metro | BEA, 2024 |
| Goods (groceries, clothing, cars…) U.S. = 100 | 96 | NM 96 | metro | BEA, 2024 |
| Utilities U.S. = 100 | 78 | NM 78 | metro | BEA, 2024 |
| Other services U.S. = 100 | 99 | NM 99 | metro | BEA, 2024 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
Albuquerque vs. its neighbors
Of the 5 towns here with a Zillow value, Albuquerque has the 2nd-lowest. Sandia Heights and North Valley and South Valley have no Zillow value, so they are in the table only.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Albuquerque | C− | $344K | $292K | 0.92% | $1,560 |
| South Valley | B | — | $224K | 0.67% | $1,280 |
| North Valley | C+ | — | $303K | 0.70% | $1,610 |
| Los Ranchos de Albuquerque | D | $714K | $492K | 0.76% | $1,330 |
| Carnuel | – | $339K | $295K | 0.54% | $1,330 |
| Rio Rancho | C | $361K | $310K | 0.74% | $1,920 |
| Corrales | C− | $701K | $572K | 0.62% | $1,680 |
| Sandia Heights | D | — | $670K | 0.79% | $2,200 |
“—” under Zillow: Zillow publishes no value for that town, so it’s left blank rather than mixed with Census figures. “—” under Cost: not graded (too little Census data, or under 1,000 residents).
Questions about the cost of living in Albuquerque
Is Albuquerque expensive to live in?
Measured against what households in the area earn, Albuquerque costs more than 77% of U.S. towns: a C− for cost of living, #61 of 72 in New Mexico. The typical home costs 4.1 years of the median household income of the Albuquerque, NM metro area ($71K).
How much does a house cost in Albuquerque?
About $344K, Zillow’s typical value for September 2026, up 1.7% in a year. The New Mexico typical home is $316K.
What salary do you need to live in Albuquerque?
To buy the typical home with 20% down at 6.3%, about $89,000 a year, keeping the payment (about $2,070 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $62,000.
How much is rent in Albuquerque?
HUD puts a two-bedroom at about $1,560 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $1,145 (Census 2020–24).
What are property taxes in Albuquerque?
The median bill is $2,678 a year, 0.92% of the median home value (New Mexico: $1,731, 0.70%), from the Census 2020–24.
Are home prices in Albuquerque going up?
Yes: up 1.7% in the past year and 28.9% in five years, against 25.1% across New Mexico (Zillow).
Neighbors talk housing
What Albuquerque buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, September 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.