ZIP 87120
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Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).
12-month history
Last updated: October 17, 2026
What the numbers show
February. Asking rents in ZIP 87120 usually run 1.3% below trend in February and 1.2% above it in August, about $41 a month apart at today's median. Based on 11 years of data.
Rent in ZIP 87120 is at its highest level since Zillow's records here began in January 2015.
Rent in ZIP 87120 changed +6.2% over the year to September 2026. Across the 32 New Mexico ZIP codes Zillow tracks, the typical change was +3.2%.
From 2019 to 2024, rent in ZIP 87120 rose 54.6% while median household income rose 22.4% ($70,983 to $86,907). Rent outpaced income.
Rent in ZIP 87120 is 61.2% 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 9 of the last 12 months.
30% of the median household income ($86,907) is $2,173 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,660); a 3-bedroom is $2,310.
12th cheapest of 16 ZIP codes in Albuquerque.
ZIP 87107, 7 miles away, rents for 24% less ($1,245/mo), about $4,700 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 87120. 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.
Who lives here
ZIP 87120 (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 ZIP 87120 in Albuquerque, NM has changed in 5 years
The median rent in ZIP 87120 in Albuquerque, NM stood at $1,158 in 2021 and currently runs about $1,636, reflecting a 41.3% 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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Tips for renters in ZIP 87120
Last updated: October 17, 2026
ZIP code 87120 covers Albuquerque, NM. The median rent here is $1,636/mo as of October 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 6.2% over the past year.
Frequently asked questions
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How does ZIP 87120 compare to the rest of Albuquerque?
At $1,636/mo, rent takes ~23% of ZIP 87120's median household income ($86,907/yr). The standard benchmark is 30%.
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