With a population of 558,545, 221,119 total housing units (homes and apartments), and a median house value of $207,348, Albuquerque real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Albuquerque, accounting for 62.52% of the city's housing units. Other types of housing that are prevalent in Albuquerque include large apartment complexes or high rise apartments ( 20.01%), duplexes, homes converted to apartments or other small apartment buildings ( 7.74%), and a few row houses and other attached homes ( 5.82%).
The most prevalent building size and type in Albuquerque are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.14% owning and 40.86% renting.
There is a lot of housing in Albuquerque built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Albuquerque built between 1940-1969 ( 27.26%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.50%). There's also some housing in Albuquerque built before 1939 ( 2.75%).
Albuquerque's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Albuquerque during the period has been just -0.01%, which is lower than 80% of US communities.
Over the last year, Albuquerque appreciation rates have trailed the rest of the nation. In the last twelve months, Albuquerque's appreciation rate has been 3.13%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Albuquerque were at -0.34%, which equates to an annual appreciation rate of -1.34%.
Notably, Albuquerque's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New Mexico, our data show that Albuquerque's latest annual appreciation rate is higher than 70% of the other cities and towns in New Mexico.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Albuquerque differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Albuquerque - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Albuquerque real estate investment or home purchase decisions.