albuquerque houses for rent - craigslist (2025)

FAQs

Is rent expensive in Albuquerque? ›

Average Apartment Cost in Albuquerque, NM

The average rent for apartments in Albuquerque, NM, is between $810 and $1,717 in 2024. For a studio apartment in Albuquerque, NM, the average rent is $810. When it comes to 1-bedroom apartments, the average rent in Albuquerque, NM, is $1,184.

How much has average rent changed in Albuquerque, NM? In the past year, rent has increased by 2.2%, which averages out to $25 more per month.

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.

According to the study, the average price for rent in Albuquerque is $1,429, so they calculated that people would need to be making $57,166 to afford to live there. From 2021 to 2022, they found there was a 16.76% increase in average rent costs for Duke City.

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.

What is the minimum wage in Albuquerque? The current minimum wage in Albuquerque, New Mexico is $12.00 per hour. This is higher than the federal minimum wage of $7.25 per hour, but lower than the current average minimum wage of $15.20 per hour across the United States.

The cost of living in Albuquerque, NM is 1% lower than the state average and 6% lower than the national average. Albuquerque, NM housing is 16% cheaper than the U.S average, while utilities are about 2% less pricey.

Albuquerque's homeless population is 2,400, almost half a percent of the city's population, from a 2022 count.

The cost of living in Albuquerque, NM is 1% lower than the state average and 6% lower than the national average. Albuquerque, NM housing is 16% cheaper than the U.S average, while utilities are about 2% less pricey.

Along with low property taxes, state income tax is 31% lower than the national average, making Albuquerque an affordable place to live. As with any city, some areas are more cost-effective than others, but fortunately, a variety of safe, affordable neighborhoods in ABQ are available to choose from.

Is it a good idea to move to Albuquerque New Mexico? ›

Whether you are a foodie, a sports fan, a nature lover, or a history buff, you can find the perfect neighborhood to suit your personality in and around the city of Albuquerque. While it is a very populous city, it is also one of the safest cities in New Mexico, making it the perfect place to relocate to.

Desirability of Albuquerque: Albuquerque is highly sought after due to its strong economy and high quality of life. Limited Housing Supply: The housing supply is restricted, contributing to the increase in property prices.