Real Estate Investing in Albuquerque, New Mexico (87104)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 87104 (Albuquerque, NM)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.9% vacancy may signal weakening demand.
What’s happening in Albuquerque, NM (87104)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 87104 Albuquerque
ZIP 87104 in Albuquerque, NM carries a notable set of headwinds. Home values near $358K and rents of $1,508/mo sit inside a market where underwriting has to be tight.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 87104 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Statewide comparisons place 87104 among NM's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The 87104 ZIP's population of 13,369 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that shows the need for careful underwriting.
tilts toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Albuquerque:
Property Strategy for 87104
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $226,925 | $1,140 | 3.6% | +9.8% | $226,925 |
| 2BR | $288,354 | $1,410 | 3.5% | +8.5% | $144,177 |
| 3BR | $387,362 | $1,960 | 3.6% | +7.8% | $129,121 |
| 4BR | $610,165 | $2,310 | 2.7% | +7.9% | $152,541 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 87104 Compare?
| Metric | 87104 | Albuquerque | Albuquerque, NM | New Mexico |
|---|---|---|---|---|
| Home Value | $357,593 | $141,103 | N/A | $308,799 |
| 5-Year CAGR | 5.3% | 5.9% | N/A | 7.3% |
| Avg Rent | $1,508 | $1,488 | N/A | - |
| Cap Rate | 3.3% | 3.2% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 87104 (Albuquerque, NM). Anonymous, moderated, never written by AI.
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Property managers serving Bernalillo County
Manage rentals here? List your business →Rhino Realty Property Management offers full-service property management and investment services for single-family homes, multifamily properties, condos, townhomes, and apartments in Albuquerque and R summary from their website
BottomLineManagement.com is a domain name available for sale. summary from their website
Deacon Property Services operates as a real estate agency. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $357,593 |
| Monthly Rent | $1,508 |
| Price-to-Rent | 19.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 8.6% |
📈 Home Appreciation
| 1-Year | +3.3% ▲ |
| 3-Year CAGR | +3.6% ▲ |
| 5-Year CAGR | +5.3% ▲ |
| 10-Year CAGR | +6.2% ▲ |
🏠 Rent Trends
| 1-Year | -10.2% ▼ |
| 3-Year CAGR | +0.1% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.3%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 87104
Population: 13,369
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 87104
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
ABQ SIGN LANGUAGE ACADEMY
DOLORES GONZALES ELEMENTARY
EAST SAN JOSE ELEMENTARY
ALVARADO ELEMENTARY
LOS RANCHOS ELEMENTARY
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 10,382 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is housing expensive in Albuquerque, NM?
Albuquerque, NM median home values land near $358K. That is reasonable territory for investors looking at $1,508/mo-per-month rentals.
How strong is tenant demand in Albuquerque, NM?
Working renters make up the core of the Albuquerque, NM tenant base. The pool is reasonable for investors targeting long-term holds.
What are vacancy rates like in Albuquerque, NM?
Albuquerque, NM sees elevated vacancy, which is reasonable relative to the broader NM rental market.
What does house hacking look like in Albuquerque, NM?
For house hackers, Albuquerque, NM is a challenging. The $1,508/mo rent on a unit helps defray the mortgage on a $358K property.
How strict are landlord regulations in Albuquerque, NM?
Albuquerque, NM operates under NM law, which is landlord-friendly overall for landlords. Expect measured treatment in typical lease and eviction cases.
You know 87104 now. You don’t know where it ranks.
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How 87104 ranks in Albuquerque, NM
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