Cheap Homes in Albuquerque, NM

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Top Reasons To Live In Albuquerque, NM In 2024

Albuquerque is located in Bernalillo, New Mexico, with an estimated municipal population of 560,513 residents. All of the best foreclosed homes for sale in Albuquerque are located in the following zip code areas on 87121 87120 87123 87112 87113 87110 87111 87116 87114 87109 87108 87102 87105 87104 87107 87106 87119 87125 87131 87151 87153 87154 87158 87181 87184 87187 87190 87191 87192 87194 87196 87197 87198 87199. The estimated population per square kilometer (.62 miles) in Albuquerque is 1,155.

Cost Of Living In Albuquerque, NM

So, about how much do homes cost in Albuquerque? The most recent median value of resident-owned homes in Albuquerque is 198,035. An estimated 59.7 percent of households in Albuquerque own their homes, with an average family size of 3.23. The median household income in Albuquerque is 52,911, with22.7 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Albuquerque, the median commute time of resident workers (in minutes) is 21.8. And last, but certainly not least, are you looking for homes to rent in Albuquerque? If so, the average rent price paid by renters in Albuquerque is 873, according to recent statistics.

Diversity And Demographics In Albuquerque, New Mexico

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Albuquerque, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Albuquerque is 36.6, split between 48.7 percent male versus 51.3 female. The percentage of residents who report being married in Albuquerque is 40.8, with an average family size of 3.23.

The percentage of residents who report their race in Albuquerque is as follows:

White 73.9%
Black / African American 3.3%
Asian 2.9%
American Indian / Alaskan Native 4.7%
Native Hawaiian / Other Pacifc Islander 0.1%
Multi-racial 4.4%
Other 10.6%

Looking for family-friendly neighborhoods in and/or near Albuquerque? Or maybe you are searching for 55+ active adult communities in and/or near Albuquerque?

The percentage of residents who report their age in Albuquerque is as follows:

Under 10 11.8%
Aged 10-19 13.1%
20s 14.8%
30s 14.9%
40s 11.8%
50s 12.4%
60s 11%
70s 6.4%
80+ 3.6%

Best Schools In Albuquerque, New Mexico

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Albuquerque with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Albuquerque.

Pros And Cons Of Living In Albuquerque, New Mexico

How do you know that living in -- or moving to -- Albuquerque is right where you need to be? Perhaps you grew up in Albuquerque or already live nearby; therefore, the decision to buy a home in Albuquerque is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Albuquerque for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Albuquerque:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Albuquerque.

Reasons To Move To Albuquerque, New Mexico, In 2024

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Albuquerque can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Albuquerque, meanwhile, can field multiple offers from more qualified buyers.

Cheap Homes in Albuquerque, NM


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