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Mortgage Calculator &
Closing Costs: Albuquerque, NM

Mortgage payment estimates, closing cost breakdowns, and homebuying data for Albuquerque, New Mexico.

Median Home Price
$325K
Population
565K
Avg Monthly Rent
$1,280
Property Tax Rate
0.8%
Albuquerque vs New Mexico Median
The median home price in Albuquerque is $325,000, which is 16% above the New Mexico state median of $280,000.

Mortgage Calculator — Albuquerque, NM

Pre-filled with Albuquerque median home price and New Mexico tax/insurance rates. Adjust for your property.

$
$65,000
%
%
years
NM avg
%
$
Monthly Payment (PITI)
$2,018
Principal + Interest + Tax + Insurance + PMI
Principal & Interest
$1,643
per month
Taxes & Insurance
$375
per month
Total Interest Paid
$332K
over 30 years
Total Loan Cost
$592K
all payments
Payment Breakdown
Loan Amount$260,000
Principal & Interest$1,643
Property Taxes$217
Homeowners Insurance$158
Total Monthly PITI$2,018

Closing Costs — Albuquerque, NM

Estimated closing costs based on New Mexico rates and fees applied to Albuquerque prices.

$
%
New Mexico: Avg closing costs 1.4% of price. Transfer tax: 0%.
Estimated Closing Costs
$10,138
3.1% of purchase price
Lender Fees
$2,765
origination, underwriting
Third-Party
$3,075
appraisal, title, inspection
Government Fees
$0
transfer taxes, recording
Prepaids + Escrow
$4,298
taxes, insurance, interest
Itemized Costs
Loan Origination (0.8%)$2,340
Underwriting Fee$350
Credit Report$75
Appraisal$550
Home Inspection$450
Title Search + Insurance$1,925
Recording Fee$150
Prepaid Taxes (3 mo)$650
Prepaid Insurance (12 mo)$1,900
Prepaid Interest (15 days)$781
Escrow Reserves$967
Total Closing Costs$10,138

Buying a Home in Albuquerque, New Mexico

The median home price in Albuquerque is $325,000, 16% above the New Mexico state median of $280,000. With a population of 564,559, Albuquerque is a major metro area where home prices reflect strong demand and local economic factors.

Property taxes in New Mexico average 0.8% annually. This moderate property tax rate means a $325,000 home in Albuquerque would carry roughly $217/month in property taxes. Homeowners insurance in New Mexico runs approximately $1,900 per year. This is within the normal range nationally.

Average rent in Albuquerque is $1,280/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.

Albuquerque presents moderate affordability. The $325K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.

Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Albuquerque.
Rent vs Buy Calculator →
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