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Housing

Metro New Mexico offers extraordinarily diverse housing opportunities with reasonable commuting times. Relocating employees have several options when choosing where to live: in the mountains, near the river in an agricultural area, on a mesa with a 100-mile view, in an historic downtown district whose renewal is receiving national attention, on a golf course, in a 200-year-old adobe under towering cottonwoods, or in a comfortable suburban setting.

Much of the housing stock is new, especially on the west side of the Rio Grande and in Rio Rancho. However, since older, established neighborhoods retain their desirability and southwestern charm, resale activity is strong.  The housing market has been surprisingly resilient in the Albuquerque Metro area.  

Architectural Style

The area boasts a wide range of architectural styles:

  • the dominant southwestern styles of Pueblo and Territorial adobe
  • Victorian homes built in the heyday of the railroads
  • traditional wood frame or brick construction, ranch-style
  • environmentally innovative construction, including passive solar design, green and LEED features, even straw bale homes
  • architecturally unique designs from nationally-renowned architects
  • urban lofts, work-live spaces, and condos.

Housing Markets

Albuquerque

With small town qualities but big city benefits, the Albuquerque metro area's housing prices are reasonable compared to many major urban centers.

  • Median price for a single family home is $171,000 (2005). According to SalesTraq data, residential prices in the Duke City are among the lowest in the southwestern U.S.
  • Albuquerque's occupancy rate for apartments was 94.7% and the average monthly rent was $673 according to RealFacts, a multi-family housing consultant.
  • The Northeast Heights is a large, attractive residential area nestled in the foothills of the Sandia Mountains. The Far Northeast Heights is one of Albuquerque's most expensive, and with its proximity to the mountains, stunning neighborhoods.
  • The Southeast Heights/Sunport (Albuquerque's international airport) area is home to the upscale Ridgecrest and Four Hills neighborhoods. South of the Sunport, the proposed Mesa Del Sol master-planned community will offer housing to several thousand families.
  • The Southwest section of Albuquerque contains well-established and secluded neighborhoods. The Albuquerque Country Club and Old Town areas are famous for their older charm along with their traditional display of farolitos (little lanterns) - votive candles placed in bags of sand that flicker on walls, roof parapets and walkways on Christmas Eve.
  • Rapidly growing developments on the West Mesa offer a large selection of recently built homes at affordable prices.
  • The North Valley/I-25 corridor includes both the older, rural North Valley and new suburban housing. It's not unusual to find horse farms and large estates in the bosque, the area that borders the Rio Grande, and the adjoining Village of Los Ranchos.
  • Albuquerque's Downtown, which has several historic districts, is now undergoing a highly successful revitalization. Recent development projects have brought a 14-screen movie theater, mixed-use housing, and the Lofts at Albuquerque High, all appealing to young professionals, artists, and empty nesters.
  • The city issued 4,676 building permits for single-family homes in 2005 (source: City of Albuquerque).

Belen

Belen, along with nearby Rio Communities, offer affordable housing, attractive open space, and a relaxed lifestyle.

  • You can select anything from ranch-style suburban homes to pueblo-style construction in one of many rapidly developing planned communities.
  • The median selling price for all homes in Valencia County is well below the national average.
  • All this comes with easy, year-round access to Albuquerque, especially with the service provided by the Rail Runner commuter train.
  • Rancho Cielo, a proposed mixed-use, master-planned community located between Belen and Los Lunas, could add from 8,000-15,000 homes to the area in 10-15 years.
  • For relocation assistance, contact the Belen Chamber of Commerce.

Estancia Valley

Located just east of Albuquerque, the Estancia Valley is home to several communities including Estancia, Edgewood, and Moriarity, Mountainair. The area offers:

  • proximity to Albuquerque, less than 20 minutes on Interstate 40 to the eastern edge of the city
  • low real estate prices and large land parcels suitable for horses or small agricultural endeavors
  • low tax rates
  • widespread broadband Internet service
  • a wide variety of settings, from wide open valleys to rugged mountains
  • area snowfall of 17'-31' per year
  • Relocation Resources: Estancia Valley Economic Development Association

Los Lunas

The Los Lunas community is developing an abundant supply of housing for the swelling population of Valencia County.

  • Median prices for single family housing are well below the national average.
  • Los Lunas combines a laid-back, semi-rural lifestyle with the convenience of nearby urban amenities.
  • Located between Belen and Albuquerque, the commute is even more convenient thanks to the Rail Runner commuter train.

Rio Rancho

Rio Rancho, one of the fastest growing cities in the country, features suburban living with urban amenities. Many residents enjoy the convenience of living near the expanding number of workplaces on the west side of the Rio Grande.

  • The median housing price for a single family home is relatively low.
  • The surrounding communities of Bernalillo, Corrales and Placitas offer a relaxed environment, rural ambiance and a short commute to the city.

Santa Fe

Santa Fe, the capital of New Mexico, has a housing cost that is higher than most New Mexico metros, but the ambiance, cultural uniqueness and historical setting make it a desirable place to live. Some relocating executives prefer to live in Santa Fe and commute one hour to Albuquerque. This is now even easier with the Rail Runner commuter express service.  There are three main areas:

  • North side: historic adobes and higher-end homes
  • Northeast: historic homes 150-200 years old
  • West and Southwest: newer homes and subdivisions
  • More relocation resources in Santa Fe