ZIP Code · NM

ZIP 87121

Part of Albuquerque, NM

Pop. 75,510·Bernalillo County·15th most expensive ZIP in New Mexico

Median rent (all units)

$1,611/mo

Year-over-Year

+2.8%

Month-over-Month

+0.3%

vs US Median

-$321

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 87121 · $1,611

More affordable than 64% of US ZIP codes · National median $1,932/mo

Rent check

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,190

1 BR

$1,400

2 BR

$1,730

3 BR

$2,410

4 BR+

$2,830

Research median

$1,730/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 87121 usually run 1.8% below trend in January and 2.1% above it in August, about $63 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 87121 is at its highest level since Zillow's records here began in April 2021.

Past year vs. the rest of New Mexico

Rent in ZIP 87121 changed +2.8% over the year to September 2026. Across the 32 New Mexico ZIP codes Zillow tracks, the typical change was +3.2%.

Recent direction

Rent has risen 7 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($60,796) is $1,520 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,400); a 2-bedroom is $1,730.

Rank in Albuquerque

11th cheapest of 16 ZIP codes in Albuquerque.

From Zillow's monthly rent index (ZORI) for ZIP 87121. 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

$19,332/yr

At $1,611/mo median

Location

CityAlbuquerque

StateNM

CountyBernalillo County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (2.8% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+2.8% YoY, +0.3% MoM), not inventory.

Demographics

Who lives here

ZIP 87121 (Albuquerque, NM) is majority owner-occupied, has a large share of families with children, has a median income below the national average, 13.2% of residents hold a bachelor's degree or higher.

Population

75,510

Median income

$60,796

Median age

32.6

Renters

23.1%

Age distribution

28%

25.1%

27.3%

Under 1828%

18–3425.1%

35–5427.3%

55–649.5%

65+10%

Gender

49.1%

50.9%

Male49.1%

Female50.9%

Race & ethnicity

24.1%

79.8%

White24.1%

Black2.9%

Hispanic79.8%

Asian1.8%

Education (25+)

20.3%

35.5%

31.1%

13.2%

No HS diploma20.3%

HS diploma35.5%

Some college31.1%

Bachelor's+13.2%

Housing tenure

76.9%

23.1%

Owner76.9%

Renter23.1%

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

2021 vs 2026

How ZIP 87121 in Albuquerque, NM has changed in 5 years

Rent

$1,097 → $1,611

up 46.9%

Income

$47,980 → $60,796

up 26.7%

Population

75,378 → 75,510

up 0.2%

Renter share

27.6% → 23.1%

-4.5 pts

Bachelor's+

13.2% → 13.2%

+0.0 pts

Median age

30.4 → 32.6

+2.2 yrs

Compared with 2021, rent in ZIP 87121 in Albuquerque, NM has increased by $514 per month, settling near $1,611 after starting the period at $1,097. Median household income grew from $47,980 to $60,796 between 2021 and 2024, a 26.7% shift. Rent outpaced income growth by roughly 20.2 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. About 23.1% of households rent today, against 27.6% in 2021. Taken together, the five-year picture in ZIP 87121 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 87121

Last updated: October 17, 2026

ZIP code 87121 covers Albuquerque, NM. The median rent here is $1,611/mo as of October 2026. A 1-bedroom rents for a median of $1,400/mo. A 2-bedroom rents for a median of $1,730/mo.

At 32% of local median household income ($60,796/yr), ZIP 87121 ranks as moderate compared to the national benchmark of 30%. Rents have increased 2.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 87121?

To keep rent at or below 30% of gross income, you would need to earn at least $64,000/year (about $31/hour full-time) to afford the median rent of $1,611/mo in ZIP 87121. The local median household income is $60,796/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 87121?

Rent in ZIP 87121 has risen 2.8% over the past year as of September 2026. That is the highest level since Zillow's records here began in April 2021.

When is the cheapest time to rent in ZIP 87121?

Asking rents in ZIP 87121 are usually lowest in January, about 1.8% below their yearly trend, and highest in August, about 2.1% above it. At today's median that is a gap of roughly $63 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 87121 compare to other ZIPs in New Mexico?

ZIP 87121 is in the middle among New Mexico ZIP codes for rent, ranking #15 of 36 at $1,611/mo. Over the year to September 2026, rent in ZIP 87121 changed +2.8%, against a typical +3.2% across the 32 New Mexico ZIP codes Zillow tracks.