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About 22% of apartment rents in Albuquerque, NM range between $701-$1,000. Page 2 - Apartments For Rent in Albuquerque, NM - 3,380 Rentals The average rent price for a three (3) bedroom apartment in Albuquerque, New Mexico is $1,690. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities Average Rent in Albuquerque, NM. Using median household income data for Albuquerque, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. Rent Prices Last updated on May 9, 2023 As of May 2023, t he average rent for a 1-bedroom apartment in Del Norte, Albuquerque, NM is $929. 1. We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. For FY 2022, the Albuquerque, NM MSA (Bernalillo County) rent for a studio or efficiency is $666 per month and $1,705 per month to rent a house or an apartment with 4 bedrooms. Rent. Average Rent in Albuquerque & Rent Prices by Neighborhood - RentCafe For listings in Canada, the trademarks REALTOR, REALTORS, and the REALTOR logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. This is a 5.96% increase year-over-year. This is a 7% increase compared to the previous year. The pros and cons of moving during each season. How much has the rent in Albuquerque, NM increased/decreased in the last month? 3 Bedroom Houses for Rent in Albuquerque NM - Zillow Official websites use .gov U.S. Census Bureau QuickFacts: Albuquerque city, New Mexico is $1,575 - 2,100, Studio - 2 Beds A .gov website belongs to an official government Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. Average Rent in Albuquerque, NM - 2023 Market Trends - Apartments.com Cost of Living in Albuquerque - Numbeo Median gross rent, 2017-2021: $932: Building permits, 2022: X: Families & Living Arrangements. Please note, rent prices can vary by building location, age, condition and other factors. 3 bds; 2 ba; 1,379 sqft - House for rent. Better safe than sorry! $950 - 1,730. Zillow has 947 homes for sale in Albuquerque NM. 2-Bedroom apartments are the most common, with a total of 403 listings available. Approximately 1% of apartments in Albuquerque, NM charge rents around < $500. The median price of all currently available listings is $1,243, or roughly $16 per square feet. $700-$1,000 would be a sweet spot for your target rent budget. Data on deptofnumbers.com is for informational purposes only. Check with the applicable school district prior to making a decision based on these boundaries. Albuquerque - Santa Fe. Protect yourself(and your stuff) with renters insurance. This is almost double the nationwide increase of 9.6 percent in rent. Compare prices, choose amenities, view photos and find your ideal rental with Apartment Finder. The trademarks MLS, Multiple Listing Service and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. The median rent price in Albuquerque, NM for August 2023 is $1,450. Zillow has 38 photos of this $325,000 2 beds, 2 baths, 1,257 Square Feet townhouse home located at 323 Platinum St SW, Albuquerque, NM 87102 built in 2023. Learn more. Fair Market Rent prices in Albuquerque are high compared to the national average. Zillow Group is committed to ensuring digital accessibility for individuals with disabilities. Part of the rise in rent can be attributed to renters desiring to upgrade to a single-family house. No warranty or guarantee of accuracy is offered or implied. The rental vacancy rate in Albuquerque peaked in 2013 at 9.43%. This browser is no longer supported. Estimated population of Albuquerque, NM MSA FMR area is 674,855 people based on latest Census data. Compare prices, choose amenities, view photos and find your ideal rental with Apartment Finder. The average Fair Market Rent for a 2-bedroom home in New Mexico is $1,144 per month. the .gov website. "It's one of the toughest markets that I've seen in a long time for renters. Households, 2017-2021: 236,191: Persons per household, 2017-2021: Use our detailed filters to find the perfect place, then get in touch with the landlord. 6004 Downey St NE, Albuquerque, NM 87109. Apartment rent rates at record high in Albuquerque, up 22% this year "There is a great need for. Houses for Rent in Albuquerque, NM 1 Filter Set 1 - 6 of 6 Results 10 $1,250 311 Princeton Dr Apt C Albuquerque, NM 3 BR | Available Now House Dog Friendly Cat Friendly 17 $2,275 649 Running Water Albuquerque, NM Studio | Available Now House 26 $2,150 3600 Cardenas NE Albuquerque, NM 3 BR | Available Now House Dog Friendly 18 $2,200 According to Dwellsy, a rental information and search service, since the beginning of 2021, rent has increased 18 percent in Albuquerque. Rentometer: Average Rents in Albuquerque, NM MLS #1035743. 424 apartments available for rent in Albuquerque, NM. The Albuquerque household renter fraction peaked in in 2018 at 35.52% and is now 3.25% below that level. The chart below compares average rent prices to the previous year during the same time period. 1 bedroom apartments for rent University Heights, 1 bedroom apartments for rent Academy Hills Park, 1 bedroom apartments for rent Trumbull Village, Do Not Sell or Share My Personal Information. Albuquerque is the 32nd most populous city in the U.S, with a population of 559,374. There is just one county (listed below) within the Albuquerque, NM MSA FMR area (most regions, especially metro areas, cover multiple counties). Wintergreen - PRELEASING NOW. There is a great need for affordable housing in New Mexico, Izzy Hernandez with the New Mexico Finance Authority said earlier this week. The rental data for, Discover The Most Affordable Neighborhoods in Albuquerque, Discover The Most Expensive Neighborhoods in Albuquerque, Discover The Most Popular Neighborhoods in Albuquerque, Estimates for the most recent period have a high degree of uncertainty due to limited data for this bedroom type in. 1998 - 2023 Nexstar Media Inc. | All Rights Reserved. The Fair Market Rent in New Mexico 4. Data records for this series originated in 2005. Please switch to a supported browser or download one of our Mobile Apps. Brokerage. Plus, messaging and tenant screening are integrated into our listing platform to help you find and screen applicants faster. Manage Settings Home; Search; . Next up is Jerry Cline Park, where apartments go for $1,045/month, followed by North Eastern Albuquerque with $1,087 If you're looking to rent in Albuquerque's most popular neighborhoods, make sure to also check out . Try our tenant screening, or post rental listings to Zumper, Craigslist Albuquerque, and more. Compared to the rest of New Mexico, the Albuquerque FMR area is In fact, Albuquerque ranks among the top 10 cities in the country for rent increases by percentage over the past year. Average Rent in Uptown Albuquerque & Rent Prices by Neighborhood - RentCafe The average rent price for a four (4) bedroom house/SFR in Albuquerque, New Mexico is$2,376. (505) 600-6576. | Low Income Apartments for Rent in Albuquerque, NM - Zumper Albuquerque city, New Mexico. Estimates are not comparable to other geographic levels due to methodology differences that may exist between different data sources. In the past year, rent has increased by 1.42%, which averages out to $16 more per month. The report also said rent growth happens here because of the low supply as more renters are competing for fewer available apartments. The cost of living in New Mexico is 5% lower than the national average Summary Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in New Mexico. | The previous year, rent for a two-bedroom home was $940 per month. In the last month, the average rent price in Albuquerque for a 3 bedroom apartment remained approximately flat. A locked padlock Zumper is built by passionate people in San Francisco. Average Rent in Albuquerque & Rent Prices by Neighborhood - RentCafe An example of data being processed may be a unique identifier stored in a cookie. Fair Market Rent for a two-bedroom apartment in Albuquerque is $996 per month. A lock ( In the rent range of $701-$1,000 there are 22% apartment units. Fair Market Rent is the 40th-percentile of typical rentals in a given region. With an average 1 bedroom monthly rent price of $775, Albuquerque is one of the more affordable of the country's largest cities in terms of cost of living. $1,899 - 2,399, 1-2 Beds An official website of the United States government. Based on current rent prices, "We're just not building enough to house the population.". Best 2 Bedroom Apartments in Albuquerque, NM - 238 Rentals - RentCafe In the last year, rent has decreased by $175 compared to the previous year. "What we're seeing is a market-by-market reshuffling of how people live," Bordo said. Albuquerque rent as a percent of median income, median household income data for Albuquerque, Renter Fraction in Albuquerque New Mexico. For listings in Canada, the trademarks REALTOR, REALTORS, and the REALTOR logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Over the past month, the average rent for a .css-1u3lvhx{transition-property:var(--chakra-transition-property-common);transition-duration:var(--chakra-transition-duration-fast);transition-timing-function:var(--chakra-transition-easing-ease-out);cursor:pointer;-webkit-text-decoration:underline;text-decoration:underline;outline:2px solid transparent;outline-offset:2px;color:var(--chakra-colors-blue-800);font-family:var(--chakra-fonts-body);font-size:var(--chakra-fontSizes-md);margin:0px;padding:0px;}.css-1u3lvhx:hover,.css-1u3lvhx[data-hover]{color:var(--chakra-colors-blue-800);}.css-1u3lvhx:focus,.css-1u3lvhx[data-focus]{box-shadow:var(--chakra-shadows-none);outline:2px solid transparent;outline-offset:2px;}.css-1u3lvhx:focus-visible{outline:2px solid transparent;outline-offset:2px;border-color:var(--chakra-colors-neutral-500);box-shadow:var(--chakra-shadows-outline);}studio apartment in Albuquerque increased by 3% to $775. What are the most affordable neighborhoods in Albuquerque? Prices and are now up 2.1% year-over-year. So, there are around 101,856 people in New Mexico who could be receiving housing benefits from the HUD. Continue with Recommended Cookies. The average rent price for a one (1) bedroom apartment in Albuquerque, New Mexico is $1,134. Rent prices in Albuquerque vary based on multiple factors including but not limited to: the unit size, the count of bathrooms, and the location within Albuquerque, NM. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. Sandia Heights South, High Desert and Antelope Run In the last month, the average rent price in Albuquerque for a 1 bedroom apartment decreased by approximately 9%. Average Apartment Rent in June 2023 $1,320 Y-o-Y Change in Average Apartment Rent 6.5% Average Single-Family Rent in June 2023 $2,312 Compared to a year ago, Albuquerque, New Mexico apartments have recorded a 6.5% rent increase. 100 Best Apartments In Albuquerque, NM (with pictures)! Check out 309 verified apartments for rent in Albuquerque, NM with rents starting as low as $600. QuickFacts provides statistics for all states and counties, and for cities and towns with a population of 5,000 or more. To put it simply, the dramatic rent increase can be attributed to the pandemic.