Living in Albuquerque appeals to a wide range of budgets and tastes, from the urban lofts of Downtown to the country setting of Corrales. There is a neighborhood for every price range. Albuquerque is consistently ranked highly for its housing affordability and stable home prices, which brings comfort to those relocating to the area or buying a first home. The Greater Albuquerque Association of Realtors
provides statistics and general information about the local housing market.
Albuquerque’s diverse neighborhoods each possess a unique identity:
Nob Hill – located along historic Route 66 (Central Ave) near the University of New Mexico, this vibrant area boasts lively eateries and local shops. Nob Hill is a progressive blend of fashion and modern tastes with most amenities located within walking distance.
Old Town – Albuquerque was established more than 300 years ago in the Old Town district. With a variety of museums, art galleries and boutique stores, this area draws visitors from all over the world. Old Town still maintains its cultural charm with traditional adobe and Spanish style architecture.
Downtown – this area is home to the City’s nightlife. Live music, nightclubs, theaters and many dining options abound. Housing options range from classic Victorian homes to newly redeveloped urban lofts. Easy access to transportation makes Downtown a friendly work-live environment.
Midtown/University – situated around the University of New Mexico, this area is home to many students and university faculty members.
Uptown – shopping opportunities include Coronado Mall and the newly developed ABQ Uptown open air shopping center. The Uptown area includes many professional business offices as well as loft living and neighborhood settings.
Eastside – situated near the foothills of the Sandia Mountains, housing options range from condos to multi-million dollar estates. There is plenty of open space for hiking, biking and walking your dog as well as breathtaking views of the mountains and City.
Airport – the Albuquerque Isotopes (the Los Angeles Dodgers’ AAA team) and the UNM football/basketball team play here. Many hotels and dining options are located in the Sunport area, which is also home to Sandia National Laboratories and Kirtland Air Force Base. Mesa del Sol, a master planned live-work community, is located nearby along with the Hard Rock Pavilion, the metro’s largest amphitheater event center.
North I-25/Balloon Fiesta Park - residents can see hundreds of balloons fly over their backyard every October. The Albuquerque International Balloon Fiesta is located here, along with the Balloon Museum. Many large employers are situated along I-25 (the area’s main north-south artery).
Barelas/South Valley – situated on Albuquerque’s Southside along the Rio Grande, the South Valley is home to the National Hispanic Cultural Center, which details the proud heritage of this area. Traditional New Mexican eateries and locally owned stores dot this neighborhood.
North Valley/Los Ranchos/Corrales – horse stables, farms and country living describes this area. Located along the banks of the Rio Grande amid the cottonwood trees and lush fields of alfalfa, this area is visually different from much of Albuquerque.
Westside – Albuquerque’s growing Westside is attracting major store chains and modern development projects. Ample housing in every price range provides a welcoming backdrop to those new to the area. The Westside is dotted with ancient volcanoes and the Petroglyph National Monument.
Greater Albuquerque Metro Area Overview
Rio Rancho – located just northwest of Albuquerque, Rio Rancho offers great views of the mountains and the City of Albuquerque. Many new homes in all price ranges can be found in this quickly growing area.
Moriarty - this area is located just 40 miles east of Albuquerque and the Sandia Mountains along I-40. Moriarty offers exceptional value for those interested in having a large lot for a stable or perhaps farming and ranching.
Los Lunas - this community is situated 25 miles south of Albuquerque along I-25. Los Lunas has a “country living” feel with beautiful homes and ranches. The New Mexico Rail Runner Express has a stop in Los Lunas connecting it with Albuquerque and other communities.
Belen – is located about 35 miles south of Albuquerque. This growing community has small town charm complete with amenities and services. Belen is the southernmost stop for the New Mexico Rail Runner Express, which connects Belen to Santa Fe with many stops in between.
Median Sales Price - Existing Single-Family Home
||Median Sale Price|
|Colorado Springs, CO
|Las Vegas, NV
|Los Angeles, CA
|New York-Northern New Jersey
|San Francisco, CA
|Western United States
Source: National Association of Realtors, 4th quarter 2012