Mortgage payment estimates, closing cost breakdowns, and homebuying data for Albuquerque, New Mexico.
Pre-filled with Albuquerque median home price and New Mexico tax/insurance rates. Adjust for your property.
Estimated closing costs based on New Mexico rates and fees applied to Albuquerque prices.
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.