Rent vs buy in Albuquerque, NM

In Albuquerque, New Mexico, the typical rent is $1,452 /mo and the typical home $344,199.

Rent

Renting comes out ahead by $57k over 7 years

Based on the typical rent and home value for Albuquerque's market, with 20% down, at today's mortgage rate. No break-even point within 30 years.

An opinion, clearly marked, with the math shown. These are estimates, not quotes. The stamp updates when you change a number.

Renting is ahead by: $57k
Break-even point: 30 years or more
What owning really costs: $2,998 each month

Change my numbers

The stamp is built on the rent and home value typical in Albuquerque's market. Your rent, price and years can turn the result around.

Do your numbers differ from the city's?

Fill in the rent, the price and the down payment you plan to use. The stamp updates to match.

Is it cheaper to rent or buy in Albuquerque?

Over 7 years, renting costs $57,374 less, counting the money you get back when you sell. In every year shown, renting's net cost is lower than owning's, and owning never catches up within 30 years.

Rent. Owning option. Net cost by year, to date.

Comparing average rent with the mortgage payment in Albuquerque

Rent and the mortgage don't tell the whole story, so here are all the monthly costs, based on year 1, using Albuquerque's typical price.

Each month, year 1	Amount	What it is
Rent	$1,452	All of it, every month
Mortgage payment	$1,877	$1,654 of it is interest in year 1
Property tax	$264	0.92% of the value a year
Insurance	$90	Census median for the city
Upkeep	$287	1% of the value a year
Owning, cash out	$2,517	$223 of it builds equity
Lost return on the down payment	$559	Earnings your cash would get at 8.3% a year
Buying costs, spread out	$143	3.5% of the price over 7 years
True cost of owning	$2,998	Cash out, minus the equity share, plus the two rows above

The figures behind the Albuquerque verdict

Typical home value, source: Zillow ZHVI, September 2026: $344,199
Typical rent, source: Zillow ZORI, September 2026: $1,452 each month
Down payment: 20% avoids private mortgage insurance, and the engine doesn't model it.: 20%
Mortgage rate from Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US): 7.24%
Growth in home prices: FHFA's house price index, New Mexico, 1995 through 2025: 3.7% each year
Rent growth, from CPI primary residence rent, yearly growth 2006 to 2026: 3.5% each year
Savings return, from 60% S&P 500 including dividends, plus 40% 10-year Treasuries, rebalanced every year, 1928 to 2025: 8.3% each year
Property tax, from Census ACS 2020-2024, Albuquerque: 0.92% of the value
Home insurance, from Census: ACS 2020-2024, Albuquerque: $90 /mo
Maintenance, from Fannie Mae, low end of the 1% to 4% range: 1% of the value each year
Buying costs, from Freddie Mac, middle of the 2% to 5% range: 3.5% of the purchase price
Selling costsAgent commission and closing costs: 6% of the price

In Albuquerque, what would flip it?

Each line marks the point at which the 7-year verdict in Albuquerque switches, while everything else stays as it is.

Renting wins in these cases

Home prices rise at less than 5.7% a year (we apply 3.7%, New Mexico's long run average).
The mortgage rate holds above 4.25%.
Renting a home like this costs under $2,070 a month (here the typical rent is $1,452).
If you move at any time in the next 30 years, owning still doesn't catch up at these numbers.

When buying comes out ahead

Home prices grow more than 5.7% a year.
You lock in a mortgage rate under 4.25% (today's is 7.24%).
You'd pay over $2,070 a month to rent that same home.

Albuquerque compared with the other 812 cities

Measure	Albuquerque	Median city
Typical home value	$344,199	$422,451
Typical rent	$1,452 /mo	$1,837 /mo
Price-to-rent ratio	19.8 (#342 of 813)	18.5
Home prices, last 10 years	6.6% a year	6.2% a year
Rents, last 5 years	4.2% a year	4% a year
Property tax	0.92%	0.87%
Households that rent	38%	42%

Data from Zillow's ZHVI and ZORI, Census ACS 2020-2024.

Other New Mexico cities

In Las Cruces, NM, renting wins by $22k.
Rio Rancho, NM. Rent vs buy: renting wins by $22k.
Santa Fe, NM. Rent vs buy: renting is ahead by $117k.

New Mexico rent vs buy: the state's numbers