Albuquerque, NM variant. This is a Albuquerque, NM-specific version of the Home Affordability Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Home Affordability Calculator.
Affording a home in Albuquerque pits the $64,254 median income against a $320,000 median price - a price-to-income ratio of 5.0x.
Can you afford Albuquerque?
The 28% rule caps housing at $1,499/month on the local median income, supporting roughly $296,499 in price - versus the $320,000 Albuquerque median.
Albuquerque is relatively attainable on the local median income.
About Albuquerque, NM
Albuquerque applies New Mexico's gross receipts tax, which functions much like a sales tax on goods and services.
Albuquerque's home prices remain moderate relative to the national market.
Albuquerque's economy includes government, national laboratories, and healthcare, with a cost of living below the national average.
Worked example: max price on $64,254
28% of $64,254 ÷ 12 ≈ $1,499/month supports about $296,499 at 6.5% with 20% down - compared with the $320,000 median.
Quick reference
- Median home value: $320,000
- Median rent: $1,300/mo
- Median household income: $64,254
- Local sales tax: 7.875%
- Effective property tax rate: 0.85%
- Cost of living index: 92 (US avg = 100)
Frequently Asked Questions
What income do I need to buy in Albuquerque?
To afford the $320,000 median home, you'd typically need well above the $64,254 local median income at current rates.
What is the price-to-income ratio in Albuquerque?
About 5.0x (median home ÷ median income).