Real Estate Investing in Albuquerque, New Mexico (87121)
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Should you buy in 87121 (Albuquerque, NM)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Albuquerque, NM (87121)?
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Market Analysis: 87121 Albuquerque
ZIP 87121 in Albuquerque, NM carries a durable set of headwinds. Home values near $293K and rents of $1,671/mo sit inside a market where underwriting has to be tight.
Distressed markets are won on execution, not on spreadsheets. ZIP 87121 sits at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Regionally, 87121 sits on the difficult end of the NM spectrum. The a credible choice for read — for disciplined operators — is that pricing reflects the difficulty.
Employment concentration in 87121 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Experienced landlords with local relationships tend to find 87121 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Albuquerque:
Property Strategy for 87121
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $238,441 | $1,730 | 5.2% | +11.3% | $119,221 |
| 3BR | $278,691 | $2,410 | 6.2% | +10.1% | $92,897 |
| 4BR | $314,784 | $2,830 | 6.5% | +9.6% | $78,696 |
| 5BR | $348,073 | — | — | +9.1% | $69,615 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 87121 Compare?
| Metric | 87121 | Albuquerque | Albuquerque, NM | New Mexico |
|---|---|---|---|---|
| Home Value | $292,780 | $141,103 | N/A | $308,799 |
| 5-Year CAGR | 7.2% | 5.9% | N/A | 7.3% |
| Avg Rent | $1,671 | $1,488 | N/A | - |
| Cap Rate | 4.5% | 3.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 87121 (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 | $292,780 |
| Monthly Rent | $1,671 |
| Price-to-Rent | 14.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.9% |
| Cap Rate | 4.5% |
| 5-Year IRR | 11.6% |
📈 Home Appreciation
| 1-Year | +4.0% ▲ |
| 3-Year CAGR | +4.5% ▲ |
| 5-Year CAGR | +7.2% ▲ |
| 10-Year CAGR | +8.7% ▲ |
🏠 Rent Trends
| 1-Year | +2.0% ▲ |
| 3-Year CAGR | +2.7% ▲ |
| 5-Year CAGR | +4.8% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.5%). 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 87121
Population: 76,135
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 87121
Schools in This ZIP Code
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 7,893 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How quickly do rentals get leased in Albuquerque, NM?
Albuquerque, NM vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Does Albuquerque, NM favor landlords or tenants?
NM ranks as a landlord-friendly state for landlord-tenant law. Albuquerque generally follows the statewide framework, so landlords face reasonable operating rules.
What real estate strategy is ideal for Albuquerque, NM?
A careful cash-flow rentals with hands-on management strategy Albuquerque, NM best. The market produces steady results for that approach at the $293K price point.
Does house hacking work in Albuquerque, NM?
House hacking in Albuquerque, NM is a challenging. With home values around $293K and rents at $1,671/mo, owner-occupants can offset a meaningful share of PITI.
What are rental rates like in Albuquerque, NM?
Expect rents around $1,671/mo per month in Albuquerque, NM. With home values at $293K, the yield math works out to reasonable levels for rental investors.
You know 87121 now. You don’t know where it ranks.
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How 87121 ranks in Albuquerque, NM
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