Rents are 8% below what Albuquerque's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,452 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in Albuquerque usually run 0.9% below trend in January and 0.9% above it in August, about $26 a month apart at today's median. Based on 11 years of data.
Rent in Albuquerque is at its highest level since Zillow's records here began in January 2015.
Rent in Albuquerque changed +1.5% over the year to September 2026. Across the 12 New Mexico cities Zillow tracks, the typical change was +4.1%.
From 2019 to 2024, rent in Albuquerque rose 49% while median household income rose 29.1% ($52,911 to $68,317). Rent outpaced income.
Rent in Albuquerque is 49.7% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 7 months in a row, and rose in 8 of the last 12 months.
30% of the median household income ($68,317) is $1,708 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,383); a 3-bedroom is $1,939.
The priciest of 16 ZIP codes in Albuquerque, 87122 ($2,216/mo), costs 2.3 times the cheapest, 87108 ($962/mo).
From Zillow's monthly rent index (ZORI) for Albuquerque. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Albuquerque, NM is majority owner-occupied, 39.2% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Albuquerque, NM has changed in 5 years
Rent in Albuquerque, NM has increased 34.7% since 2021, going from about $1,078 per month to roughly $1,452 today. Local incomes tracked alongside that move, going from a median of $56,366 in 2021 to $68,317 more recently. Rent outpaced income growth by roughly 13.5 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. About 38.2% of households rent today, against 39.9% in 2021. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the Albuquerque, NM market of 2021.
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Can you afford rent in Albuquerque on your salary?
At $1,452/mo, how Albuquerque rent compares to typical pay (30% rule).
Albuquerque rent by bedroom count
Median rent for each apartment size in Albuquerque. Click any size for full breakdown.
Tips for renters in Albuquerque
Last updated: October 17, 2026
The median rent in Albuquerque is $1,452/mo as of October 2026. A studio apartment averages $949/mo while a 2-bedroom runs $1,383/mo. One-bedroom apartments average $1,128/mo and 3-bedroom units go for $1,939/mo.
At 26% of local median household income ($68,317/yr), Albuquerque ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.5% over the past year.
Frequently asked questions
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How does Albuquerque rent compare to other cities in New Mexico?
At $1,452/mo, rent takes ~26% of Albuquerque's median household income ($68,317/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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