Houses for Rent in Albuquerque, NM - 153 Rental Homes | Zumper (2024)

FAQs

Is rent going up in Albuquerque? ›

Albuquerque rent growth in 2024 pacing above last year

Five months into the year, rents in Albuquerque have risen 2.7%. This is a faster rate of growth compared to what the city was experiencing at this point last year: from January to May 2023 rents had increased 0.2%.

When you rent an apartment in Albuquerque, you can expect to pay about $809 per month for a studio, $1,106 for a one-bedroom apartment, and around $1,378 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,713 or more. $809/mo.

Albuquerque, NM Occupied Housing Units

94,192 or 40% of the households in Albuquerque, NM are renter-occupied while 141,999 or 60% are owner-occupied.

Supply chain issues, cost of materials, and inflation have also affected the housing and apartment market making it less affordable to build new homes and complexes. Copyright 2024 Nexstar Media Inc.

In New Mexico, there are no state-specific rent control laws limiting how much a landlord can increase rent. Landlords must provide a 30-day notice for rent increases on month-to-month leases, and rent cannot be increased during a fixed-term lease unless specifically allowed by the lease terms.

The median sale price of a home in Albuquerque was $353K last month, up 3.8% since last year. The median sale price per square foot in Albuquerque is $203, up 3.8% since last year.…

Q: What are the wealthy neighborhoods of Albuquerque? A: The richest part of Albuquerque is the neighborhood of High Desert.

Albuquerque is a more affordable place to live compared to Santa Fe. Albuquerque has a Cost of Living Index that is 9.2% higher than the national average, whereas Santa Fe is 14% higher than the national average.

Where do most renters live? ›

Renters make up a much larger share of households in California (44%) than in the rest of the US (35%)—or in any state other than New York (46%), according to the US Census. This pattern predates the current surge in housing prices and has proved remarkably consistent over the last six decades.

New Mexico is a somewhat landlord-friendly state. New Mexico has no limits for what landlords may charge for rent and may file for eviction sooner than in other states.

Housing (Buy and Rent)

The average monthly rent in Albuquerque is $1,313, while home prices circle around $392,079.

Ventana Ranch is one of the safest neighborhoods in Albuquerque! This planned community near Rio Rancho has become a popular destination for families and retirees who want a more suburban setting away from the city—and that distance makes the homes more affordable here, too!

Slightly Tight: The overall rental vacancy rate is estimated at 7.1 percent as of April 1, 2023, on par with the 7.1-percent rate in April 2010; the current rate includes many new units currently in lease up.

Of the many cities in the U.S., more and more people will choose to move to Albuquerque, NM in 2022. With a population of just over 560,000 (2020), Albuquerque ranks in the top 50 most populous cities in the country (#32) and is seeing consistent growth each year Albuquerque is the biggest city in New Mexico.

ALBUQUERQUE, N.M. —

Affordable housing is still a problem in Albuquerque. At a city council meeting, residents voiced their frustrations about the housing crisis. Just last year, the city launched "Housing Forward ABQ" and set a goal of 5,000 units in five years.