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% *
* Property tax shown is the New Mexico state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Albuquerque.
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.
Three down payment scenarios for a $325K home using New Mexico's 0.8% tax rate and $1,900/yr insurance.
5% Down
$2,507/mo
Down: $16,250
Loan: $309K
P&I: $1,952
Tax: $217
Insurance: $158
PMI: $180
10% Down
$2,394/mo
Down: $32,500
Loan: $293K
P&I: $1,849
Tax: $217
Insurance: $158
PMI: $171
20% Down (No PMI)
$2,018/mo
Down: $65,000
Loan: $260K
P&I: $1,643
Tax: $217
Insurance: $158
Income needed (28% rule): $86K/year with 20% down, $103K/year with 10% down.
Rent vs Buy in Albuquerque
Rent
$1,280/mo
vs
Buy (10% down)
$2,394/mo
Price-to-rent ratio: 21.2 — At a ratio above 20, renting may be more economical in Albuquerque for shorter stays. Buying costs $1,114 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
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.