Thinking about moving to Albuquerque?
You’ll be in good company. Between 2010 and 2016, more than 13,425 people have moved to Albuquerque, an increase of 2.5%. New residents are attracted to Albuquerque’s sunshine and affordable living.
Albuquerque is home to 559,277 Burqueños. With an area of 187.7 square miles, Albuquerque has a population density of 2,980 persons per square mile, which makes it less dense than many other cities of comparable size.
The Albuquerque, NM Metropolitan Statistical Area boasts a population of 909,906 people, of which Albuquerque proper’s population makes up 61%.
One of Albuquerque’s greatest strengths is its relatively affordable housing market. The median home value in Albuquerque is $190,900, -5% below the US median value, according to Zillow. The median price per square foot in Albuquerque is $119. Over the past 5 years, home values in Albuquerque have increased by 4%.
Renters in Albuquerque will also have an easy time finding affordable housing. The median rent in Albuquerque is $1,197 per month, which is 16% lower than the US median. Over the past year, rental rates in Albuquerque have decreased by 0.7%.
Albuquerque’s economy has been a bit sluggish over the past few years. The Albuquerque metro area’s GDP grew by 0% between 2010 and 2015, from $39 billion in 2010 to $39 billion in 2015, a total increase of $ billion. The metro area has a per capita GDP of $42,491. According to the US Census Bureau, the median household income in Albuquerque, NM is $48,495, 21% lower than the national median. Albuquerque’s unemployment rate is 6.2%.