Albuquerque, NM Rental Market Trends

Albuquerque Rent Report: February 2024

Welcome to the Apartment List February 2024 Rent Report for Albuquerque, NM. Currently, the overall median rent in the city stands at $1,157, after falling 1.0% last month. Prices are now down 1.0% year-over-year. Read on to learn more about what’s been happening in the Albuquerque rental market and how it compares to trends throughout the nation as a whole.

Albuquerque rents are down 1.0% month-over-month and down 1.0% year-over-year

The median rent in Albuquerque fell by 1.0% over the course of January, and has now decreased by a total of 1.0% over the past 12 months. Albuquerque’s rent growth over the past year has is similar to both the state (-0.4%) and national averages (-1.0%).

January rent growth in Albuquerque ranked #89 among large U.S. cities

Albuquerque rents went down 1.0% in the past month, compared to the national rate of -0.3%. Among the nation's 100 largest cities, this ranks #89. Similar monthly rent growth took place in Wichita, KS (-1.0%) and Glendale, AZ (-1.0%).

Albuquerque is the #79 most expensive large city in the U.S., with a median rent of $1,157

Citywide, the median rent currently stands at $952 for a 1-bedroom apartment and $1,218 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,157. That ranks #79 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,207 for a 1-bedroom, $1,359 for a 2-bedroom, and $1,373 overall. The median rent in Albuquerque is 15.7% lower than the national, and is similar to the prices you would find in Omaha, NE ($1,184) and Spokane, WA ($1,140).

Methodology

Apartment List is committed to the accuracy and transparency of our rent estimates. We begin with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, capturing apartment transactions over time to provide an accurate picture of rent growth in cities across the country. Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. For more details, please see the Apartment List Rent Estimate Methodology.

Data Access

Apartment List publishes monthly rent reports and underlying data for hundreds of cities across the nation, as well as data aggregated for counties, metros, and states. These data are intended to be a source of reliable information that help renters and policymakers make sound decisions. Insights from our data are covered regularly by journalists across the country. To access the data yourself, please visit our Data Downloads Page.

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