Photo: AllenS · Public domainMeasured against area pay, Bernalillo costs less to live in than 76% of U.S. towns
It ranks #15 of 72 in New Mexico for affordability. About the same as a year ago, 8% 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). The typical home costs 3.6 years of metro income, and 44% of renters pay 30% or more of income for housing.
In dollars
- $341Ktypical home, 8% above the New Mexico typical homeZillow, September 2026
- $1,400a 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
- 3.6 yrsof area income buys the typical home; the typical U.S. town: 3.3$71K, Albuquerque-area income
- 15%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 44%of renters pay 30%+ of income for housing; across New Mexico: 50%Census 2020–24
- 13%of owners do; the typical U.S. town: 20%Census 2020–24
Housing in Bernalillo, in brief
New renters pay more than renters already here
HUD puts a standard two-bedroom at about $1,400 a month with utilities, the going rate for someone moving in. Renters already in Bernalillo pay a median of $902. Renting ↓
A median income goes further next door
At Bernalillo’s median income, the calculator’s budget of about $260K falls short here but covers the typical home in Santa Ana Pueblo ($150K). 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 2024 (2024 partly estimated); incomes, rents paid, taxes and ownership come from the Census American Community Survey.
What’s behind Bernalillo’s grade
Measured against what households in the area earn, Bernalillo is more affordable than 76% of U.S. towns, #15 of 72 in New Mexico. Home prices pull the grade down most; property tax holds it up.
Prices here have kept pace with New Mexico: up 23.6% in five years, against 25.1% statewide (Zillow).
Up 23.6% in five years
About the same pace as New Mexico (25.1%).
Show as a table
| January | Bernalillo | New Mexico |
|---|---|---|
| 2017 | $192,000 | $177,000 |
| 2018 | $203,000 | $183,000 |
| 2019 | $211,000 | $191,000 |
| 2020 | $226,000 | $203,000 |
| 2021 | $251,000 | $228,000 |
| 2022 | $292,000 | $261,000 |
| 2023 | $312,000 | $285,000 |
| 2024 | $324,000 | $299,000 |
| 2025 | $335,000 | $310,000 |
| 2026 | $340,000 | $313,000 |
| September 2026 | $341,000 | $316,000 |
A typical Bernalillo home worth $190K in October 2016 is worth about $341K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
Too few sales to read the market
Only 5 homes sold in September 2026, the latest month in Redfin’s figures: too few to describe the market or quote a median sale price.
A year’s rent takes 15% of area income
The calculator starts from the area income the grade uses. Switch to Bernalillo’s own median, or type yours.
That’s $53K short of a typical Bernalillo home.
A two-bedroom rents for about $1,400 a month here, $560 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Bernalillo’s typical property tax (0.59% 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 $1,400
Renters already here pay a median of $902, 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.
No new homes permitted in 2024
No permits for new homes were issued in Bernalillo in 2024. The last year with any was 2023 (18 new homes).
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2024 | 0 | 0 | 0 | — |
| 2023 | 18 | 3 | 15 | $1.8 million |
| 2022 | 1 | 1 | 0 | $300,000 |
| 2021 | 217 | 121 | 96 | $30 million |
| 2020 | 182 | 114 | 68 | $27.3 million |
| 2019 | 176 | 102 | 74 | $25 million |
| 2018 | 173 | 104 | 69 | $25.2 million |
| 2017 | 165 | 96 | 69 | $23.5 million |
| 2016 | 148 | 86 | 62 | $21.1 million |
| 2015 | 128 | 78 | 50 | $18.9 million |
| 2014 | 94 | 64 | 30 | $15 million |
| 2013 | 111 | 73 | 38 | $17.3 million |
Bernalillo's permit office didn't report to the Census in 2024, so the 2024 figures are Census estimates.
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Property tax runs below the New Mexico norm
The median bill is $1,514 (New Mexico: $1,731), 0.59% 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 Bernalillo
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.
Bernalillo vs. its neighbors
Of the 3 towns here with a Zillow value, Bernalillo has the lowest. Santa Ana Pueblo has no Zillow value, so it is 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 |
|---|---|---|---|---|---|
| Bernalillo | A− | $341K | $256K | 0.59% | $1,400 |
| Placitas | C− | $642K | $562K | 0.51% | $2,010 |
| Santa Ana Pueblo | A+ | — | $150K | — | $1,470 |
| Rio Rancho | C | $361K | $310K | 0.74% | $1,920 |
“—” under Zillow: Zillow publishes no value for that town, so it’s left blank rather than mixed with Census figures.
Questions about the cost of living in Bernalillo
Is Bernalillo expensive to live in?
Measured against what households in the area earn, Bernalillo costs less than 76% of U.S. towns: an A− for cost of living, #15 of 72 in New Mexico. The typical home costs 3.6 years of the median household income of the Albuquerque, NM metro area ($71K).
How much does a house cost in Bernalillo?
About $341K, Zillow’s typical value for September 2026, up 0.4% in a year. The New Mexico typical home is $316K.
What salary do you need to live in Bernalillo?
To buy the typical home with 20% down at 6.3%, about $84,000 a year, keeping the payment (about $1,960 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $56,000.
How much is rent in Bernalillo?
HUD puts a two-bedroom at about $1,400 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $902 (Census 2020–24).
What are property taxes in Bernalillo?
The median bill is $1,514 a year, 0.59% of the median home value (New Mexico: $1,731, 0.70%), from the Census 2020–24.
Are home prices in Bernalillo going up?
Barely: up 0.4% in the past year and 23.6% in five years, against 25.1% across New Mexico (Zillow).
Neighbors talk housing
What Bernalillo 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.