Living in Albuquerque, New Mexico
Cost of living, income, home prices, rent and demographics of Albuquerque · Census data 2020–2024
Albuquerque has 562,218 residents with a median age of 38.8. The median household income is $68,317 (7% higher than the New Mexico median), the median home value is $291,500, the median rent is $1,145/month.
Albuquerque at a glance
- Population
- 562,218
- Median age
- 38.8State: 39.4
- Median household income
- $68,317State: $64,059
- Median home value
- $291,500State: $248,100
- Median rent
- $1,145/moState: $1,067
- Homeowners
- 61.8%
- Bachelor's degree or higher
- 39.2%
- Average commute
- 22 min
Is Albuquerque a good place to live?
Pros: Median household income 7% higher than the New Mexico median; an average commute of 22 minutes; unemployment of 5.4%; a poverty rate of 15.5%.
Cons: Home values 17% higher than the state median.
The weather is best in April–May and September–October.
Cost of living in Albuquerque
Housing is the biggest part of the cost of living. In Albuquerque the median home value is $291,500, 12% lower than the U.S. median. Renters pay a median of $1,145 per month, which is 31.4% of household income. Homeowners with a mortgage pay $1,604 a month in housing costs.
Albuquerque median household income
The median household income in Albuquerque is $68,317 and the income per person is $40,469. 15.5% of residents live below the poverty line (New Mexico: 17.8%).
Housing in Albuquerque: homes for sale and rent
- Housing units
- 258,178
- Owner-occupied
- 61.8%
- Renter-occupied
- 38.2%
- Vacant
- 5.6%Includes seasonal homes
- Median year built
- 1982
- Average household size
- 2.27
Albuquerque demographics
- Population
- 562,218
- Median age
- 38.8
- Under 18
- 20.3%
- 65 and older
- 17.7%
- Households
- 243,733
- Foreign-born
- 10.6%
- Veterans
- 7.7%Adults 18+
Hispanic or Latino can be of any race. Population history of Albuquerque ›
Education in Albuquerque
39.2% of adults 25 and older in Albuquerque have a bachelor's degree or higher (New Mexico: 31%), and 17.9% have a graduate or professional degree.
Jobs and commute in Albuquerque
- Unemployment rate
- 5.4%State: 6%
- Average commute
- 22 minState: 24 min
- Work from home
- 15%
- Drive alone
- 70.7%
- Public transit
- 0.9%
- Walk to work
- 2%
- Homes with broadband
- 90.5%
Albuquerque vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Albuquerque | 562,218 | $68,317 | $291,500 | $1,145 |
| Los Ranchos de Albuquerque | 5,857 | $72,992 | $492,400 | $1,061 |
| North Valley | 10,455 | $61,498 | $302,700 | $893 |
| Kirtland AFB | 3,413 | $84,884 | — | $1,794 |
| South Valley | 37,120 | $58,224 | $224,300 | $954 |
| Paradise Hills | 4,591 | $73,295 | $254,600 | $1,361 |
| Edith Enclave | 185 | $91,875 | $318,800 | $950 |
| Corrales | 8,555 | $102,307 | $571,500 | $1,143 |
| Sandia Heights | 3,160 | $143,646 | $670,100 | $3,050 |
More for people moving to Albuquerque
Albuquerque ZIP code ›Weather and climate ›Living in Albuquerque: FAQ
What is the median household income in Albuquerque, NM?
The median household income in Albuquerque is $68,317, 7% higher than the New Mexico median of $64,059 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Albuquerque?
The median home value in Albuquerque is $291,500, compared with $248,100 in New Mexico.
How much is rent in Albuquerque?
The median gross rent in Albuquerque is $1,145 per month, about 31.4% of household income.
Is Albuquerque, NM a good place to live?
Pluses: median household income 7% higher than the New Mexico median; an average commute of 22 minutes; unemployment of 5.4%; a poverty rate of 15.5%. Minuses: home values 17% higher than the state median.
What is the median age in Albuquerque?
The median age in Albuquerque is 38.8 years (New Mexico: 39.4).
How long is the commute in Albuquerque?
The average commute to work in Albuquerque is 22 minutes; 15% of workers work from home.
What is the unemployment rate in Albuquerque?
The unemployment rate in Albuquerque is 5.4% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Albuquerque?
39.2% of adults in Albuquerque have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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