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ZIP Code · NM

ZIP 87120

Pop. 66,097·Bernalillo County·13th most expensive ZIP in New Mexico
Median rent (all units)
$1,641/mo
Year-over-Year
+6.3%
Month-over-Month
-1.1%
vs US Median
-$324
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 87120 · $1,641
More affordable than 63% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,140
1 BR
$1,340
2 BR
$1,660
3 BR
$2,310
4 BR+
$2,720
Research median
$1,660/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: July 20, 2026

Annual cost
$19,692/yr
At $1,641/mo median
Location
StateNM
CountyBernalillo County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (6.3% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+6.3% YoY, -1.1% MoM), not inventory.
Demographics

Who lives here

ZIP 87120 (Albuquerque, NM) is majority owner-occupied, 39.2% of residents hold a bachelor's degree or higher.

Population
66,097
Median income
$86,907
Median age
40.2
Renters
20.9%
Age distribution
20.3%
21.5%
27.2%
12.8%
18.2%
Under 1820.3%
18–3421.5%
35–5427.2%
55–6412.8%
65+18.2%
Gender
48.6%
51.4%
Male48.6%
Female51.4%
Race & ethnicity
46.7%
55.1%
White46.7%
Black3.8%
Hispanic55.1%
Asian2.5%
Education (25+)
20.9%
33.7%
39.2%
No HS diploma6.2%
HS diploma20.9%
Some college33.7%
Bachelor's+39.2%
Housing tenure
79.1%
20.9%
Owner79.1%
Renter20.9%

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

2021 vs 2026

How ZIP 87120 in Albuquerque, NM has changed in 5 years

Rent
$1,213 → $1,641
up 35.3%
Income
$74,094 → $86,907
up 17.3%
Population
66,118 → 66,097
up 0.0%
Renter share
22.8% → 20.9%
-1.9 pts
Bachelor's+
36.4% → 39.2%
+2.8 pts
Median age
38.6 → 40.2
+1.6 yrs

The median rent in ZIP 87120 in Albuquerque, NM stood at $1,213 in 2021 and currently runs about $1,641, reflecting a 35.3% increase over the period. Median household income rose from $74,094 to $86,907 between 2021 and 2024, a 17.3% shift. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. Renters now make up 20.9% of households, compared with 22.8% five years ago. College-educated residents now make up 39.2% of adults here, versus 36.4% in 2021. Taken together, the five-year picture in ZIP 87120 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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Local insights

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About renting in ZIP 87120

Last updated: July 20, 2026

ZIP code 87120 covers Albuquerque, NM. The median rent here is $1,641/mo as of July 2026. A 1-bedroom rents for a median of $1,340/mo. A 2-bedroom rents for a median of $1,660/mo.

At 23% of local median household income ($86,907/yr), ZIP 87120 ranks as affordable compared to the national benchmark of 30%. Rents have increased 6.3% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 87120?

As of July 20, 2026, the median monthly rent in ZIP 87120 (Albuquerque, NM) is $1,641. This is based on aggregated data from public sources and community submissions.

How does ZIP 87120 rent compare to the US average?

ZIP 87120's median rent of $1,641/mo is $324 (16%) below the US national median of $1,965/mo.

How does ZIP 87120 compare to other ZIPs in New Mexico?

ZIP 87120 falls in the middle range for New Mexico, ranking #13 out of 35 ZIPs at $1,641/mo.

How much income do you need to rent in ZIP 87120?

To keep rent at or below 30% of gross income, you would need to earn at least $66,000/year (~$32/hour full-time) to afford the median rent of $1,641/mo in ZIP 87120. The local median household income is $86,907/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 87120?

Rent in ZIP 87120 has increased 6.3% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 87120 an affordable place to rent?

ZIP 87120 is considered very affordable for renters. At $1,641/mo, rent takes approximately 23% of the local median household income ($86,907/yr). The standard benchmark is 30%. ZIP 87120 falls comfortably within that range.

What percentage of ZIP 87120 residents rent vs. own?

According to Census data, approximately 20.9% of ZIP 87120 households are renters, while 79.1% are owner-occupied. ZIP 87120 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 87120 compare to the rest of Albuquerque?

ZIP 87120 is pricier than Albuquerque as a whole. At $1,641/mo, it's $155 above the Albuquerque citywide median of $1,486/mo.

When was rent data for ZIP 87120 last updated?

Rent data for ZIP 87120 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
23%
VERY AFFORDABLE

At $1,641/mo, rent takes ~23% of ZIP 87120's median household income ($86,907/yr). The standard benchmark is 30%.

ZIP 87120 23%Benchmark 30%
State income tax1.7–5.9%
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Public schools near ZIP 87120 (Albuquerque, NM)

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