Albuquerque, NM
Population 562,488 · New Mexico
About Albuquerque, NM
Albuquerque is a major city located in New Mexico with a population of 562,488 residents according to the latest US Census Bureau American Community Survey data. The median household income is $65,604 per year, which is 13% below the national median of $75,149. The median age of 38.7 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Albuquerque features a median home value of $266,700, which is 9% above the national median of $244,900. This positions Albuquerque in a moderately priced market relative to the rest of the country. Median monthly rent is $1,085, 7% below the national average of $1,163/month. Of the 256,861 total housing units, 62% are owner-occupied (148,925 units) and 38% are renter-occupied (93,192 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Albuquerque shows an unemployment rate of 5.3%, which is near the national rate of 3.7%. The poverty rate stands at 16.0%, above the national average of 12.4%. Workers in Albuquerque have an average one-way commute time of 22.2 minutes.
Education & Demographics
38.7% of Albuquerque residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 28.9% White, 7.6% Hispanic or Latino, 0.7% Black or African American, and 17.9% Asian residents, with 10.4% of the population being foreign-born.
How Albuquerque Ranks in New Mexico
Cost of Living in Albuquerque, NM
Compared to national averages, Albuquerque has a median household income of $65,604 (13% below the national median of $75,149). Home values average $266,700, which is 9% above the national median. Monthly rent at $1,085 is 7% below the US average of $1,163. Within New Mexico, Albuquerque's income is 3% below the state average of $67,435, and home values are 14% above the state median of $233,762.
Why Live in Albuquerque, NM?
Albuquerque offers rent that’s lower than the national average at $1,085/month, and a well-educated community where 38.7% of residents hold a bachelor’s degree or higher, and short commute times averaging just 22.2 minutes.
Potential considerations include median household income ($65,604) that falls below the national average. However, as a major city, Albuquerque provides access to a wide range of amenities and services.
Albuquerque has a population of 562,488 with a median age of 38.7 years. Compare Albuquerque with other cities to see how it stacks up, or explore all cities in New Mexico.
Similar Cities Near Albuquerque
Cities in New Mexico with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Las Cruces | 112,612 | $55,176 | $217,400 | Compare |
| Rio Rancho | 106,533 | $85,755 | $273,300 | Compare |
| Santa Fe | 88,224 | $70,110 | $411,500 | Compare |
| Roswell | 47,823 | $50,294 | $139,200 | Compare |
| Farmington | 46,339 | $63,745 | $225,400 | Compare |
| Hobbs | 39,887 | $65,691 | $180,700 | Compare |
| Clovis | 38,153 | $54,029 | $160,000 | Compare |
| South Valley | 36,605 | $51,062 | $205,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Mexico
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Albuquerque With Other Cities
Frequently Asked Questions about Albuquerque
What is the population of Albuquerque, NM?
The population of Albuquerque, NM is 562,488 according to the latest US Census Bureau American Community Survey estimates. This makes it a major city in New Mexico.
What is the median household income in Albuquerque?
The median household income in Albuquerque, NM is $65,604 per year, which is 13% below the national median of $75,149.
What is the median home value in Albuquerque?
The median home value in Albuquerque, NM is $266,700, which is 9% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Albuquerque?
The median monthly rent in Albuquerque, NM is $1,085, which is 7% below the national average of $1,163/month.
What is the unemployment rate in Albuquerque?
The unemployment rate in Albuquerque, NM is 5.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Albuquerque, NM a good place to live?
Albuquerque offers a moderate cost of living, a competitive housing market, and growing employment opportunities. With a population of 562,488 and a median age of 38.7, the city appeals to a broad range of residents.
How educated is Albuquerque, NM?
38.7% of residents in Albuquerque aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Albuquerque?
Key cost-of-living indicators for Albuquerque, NM: median home value is $266,700 (9% above national), median rent is $1,085/month, and median household income is $65,604. The home-value-to-income ratio is 4.1x, a moderate figure by national standards.
What is the poverty rate in Albuquerque?
The poverty rate in Albuquerque, NM is 16.0%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Albuquerque, NM?
Albuquerque's population is 28.9% White, 7.6% Hispanic or Latino, 0.7% Black or African American, 17.9% Asian, and 2.8% two or more races. 10.4% of residents are foreign-born.