ZIP Code · NM

ZIP 87109

Part of Albuquerque, NM

Pop. 39,324·Bernalillo County·25th most expensive ZIP in New Mexico

Median rent (all units)

$1,394/mo

Year-over-Year

Stable

Month-over-Month

Stable

vs US Median

-$538

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 87109 · $1,394

More affordable than 80% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,100

1 BR

$1,290

2 BR

$1,590

3 BR

$2,210

4 BR+

$2,610

Research median

$1,590/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

January. Asking rents in ZIP 87109 usually run 0.8% below trend in January and 1.1% above it in September, about $26 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 87109 is 1.1% below its high of $1,410 in April 2025, at $1,394 as of September 2026.

Past year vs. the rest of New Mexico

Rent in ZIP 87109 changed -0.1% over the year to September 2026. Across the 32 New Mexico ZIP codes Zillow tracks, the typical change was +3.2%.

What a typical income covers

30% of the median household income ($58,900) is $1,473 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,290); a 2-bedroom is $1,590.

Rank in Albuquerque

6th cheapest of 16 ZIP codes in Albuquerque.

Cheaper nearby

ZIP 87107, 4 miles away, rents for 11% less ($1,245/mo), about $1,800 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 87109. 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.

Annual cost

$16,728/yr

At $1,394/mo median

Location

CityAlbuquerque

StateNM

CountyBernalillo County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (-0.1% YoY, +0.0% MoM), not inventory.

Demographics

Who lives here

ZIP 87109 (Albuquerque, NM) is roughly split between renters and owners, has a large retiree population, has a median income below the national average, 43.9% of residents hold a bachelor's degree or higher.

Population

39,324

Median income

$58,900

Median age

42.8

Renters

46.6%

Age distribution

16.6%

23.6%

22.8%

13%

24.1%

Under 1816.6%

18–3423.6%

35–5422.8%

55–6413%

65+24.1%

Gender

46.4%

53.6%

Male46.4%

Female53.6%

Race & ethnicity

56.4%

35.6%

White56.4%

Black3.5%

Hispanic35.6%

Asian4.5%

Education (25+)

17.6%

31.4%

43.9%

No HS diploma7.1%

HS diploma17.6%

Some college31.4%

Bachelor's+43.9%

Housing tenure

53.4%

46.6%

Owner53.4%

Renter46.6%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2022 vs 2026

How ZIP 87109 in Albuquerque, NM has changed in 5 years

Rent

$1,227 → $1,394

up 13.6%

Income

$49,909 → $58,900

up 18.0%

Population

40,249 → 39,324

down 2.3%

Renter share

49.2% → 46.6%

-2.6 pts

Bachelor's+

42.2% → 43.9%

+1.7 pts

Median age

41.7 → 42.8

+1.1 yrs

Five years ago, renters in ZIP 87109 in Albuquerque, NM paid around $1,227 a month. That figure now sits near $1,394, up 13.6% from the 2022 baseline. Median household income climbed from $49,909 to $58,900 between 2021 and 2024, a 18.0% shift. With wages climbing faster than rent over the same window, renters here have a bit more breathing room than they did five years back. Census counts show ZIP 87109 in Albuquerque, NM losing about 925 residents over the five-year window, down 2.3% on net. The renter share has eased from 49.2% to 46.6%, with owner-occupied housing accounting for the remainder. Taken together, the five-year picture in ZIP 87109 in Albuquerque, NM reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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About renting in ZIP 87109

Last updated: October 17, 2026

ZIP code 87109 covers Albuquerque, NM. The median rent here is $1,394/mo as of October 2026. A 1-bedroom rents for a median of $1,290/mo. A 2-bedroom rents for a median of $1,590/mo.

At 28% of local median household income ($58,900/yr), ZIP 87109 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.1% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 87109?

To keep rent at or below 30% of gross income, you would need to earn at least $56,000/year (about $27/hour full-time) to afford the median rent of $1,394/mo in ZIP 87109. The local median household income is $58,900/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 87109?

Rent in ZIP 87109 has been roughly flat over the past year as of September 2026, a -0.1% change. It sits 1.1% below its high of $1,410 in April 2025.

When is the cheapest time to rent in ZIP 87109?

Asking rents in ZIP 87109 are usually lowest in January, about 0.8% below their yearly trend, and highest in September, about 1.1% above it. At today's median that is a gap of roughly $26 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 87109 compare to other ZIPs in New Mexico?

ZIP 87109 is one of the more affordable among New Mexico ZIP codes for rent, ranking #25 of 36 at $1,394/mo. Over the year to September 2026, rent in ZIP 87109 changed -0.1%, against a typical +3.2% across the 32 New Mexico ZIP codes Zillow tracks.