Albuquerque, NM variant. This is a Albuquerque, NM-specific version of the Mortgage 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 Mortgage Calculator.
Albuquerque's $320,000 median home and 0.85% property tax make for a distinctive mortgage payment. High-cost metros front-load the principal-and-interest portion.
Mortgage payment in Albuquerque
On the $320,000 median home with 20% down ($64,000), you'd finance $256,000. At 6.5% over 30 years, P&I ≈ $1,618/month.
Add Albuquerque's 0.85% property tax (≈ $227/month) plus insurance for the all-in payment.
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: $320,000 Albuquerque home
Loan $256,000 at 6.5% for 30 years → $1,618/mo P&I. Property tax ≈ $227/mo. Total before insurance ≈ $1,845/mo.
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
How much is a mortgage in Albuquerque?
About $1,618/month P&I on the $320,000 median home with 20% down at 6.5%.
What is the property tax rate in Albuquerque?
About 0.85% of home value per year.