Bernalillo County, New Mexico Housing Market
In Bernalillo County, New Mexico, the median home value is $292,900, with a median monthly rent of $1,144. This places Bernalillo County at #664 nationally out of 3134 counties by median home value, and #5 within New Mexico.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,200
- Establishments: 22,678
- BLS QCEW, 2025
Housing Supply
- Single-family: 668
- Multi-family: 892
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 283,658 (avg $77,069)
- Outflow: 276,368 (avg $76,981)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Bernalillo County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 87068 | 268.9 | +12.15% | 2025 |
| 2 | 87105 | 263.1 | -1.09% | 2025 |
| 3 | 87121 | 280.6 | +3.67% | 2025 |
| 4 | 87107 | 269.1 | +3.89% | 2025 |
| 5 | 87102 | 331.8 | +9.79% | 2025 |
| 6 | 87124 | 273.4 | +1.82% | 2025 |
| 7 | 87048 | 261.2 | +4.32% | 2025 |
| 8 | 87112 | 265.9 | +4.21% | 2025 |
| 9 | 87122 | 255.7 | +5.95% | 2025 |
| 10 | 87047 | 264.8 | +2.82% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
How Bernalillo County Compares
| Metric | Bernalillo County | New Mexico Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $292,900 | $192,727 | $227,706 |
| Median Gross Rent | $1,144 | $904 | $968 |
| Owner Occupancy Rate | 64.5% | 74.2% | 73.3% |
| Price/Rent Ratio | 21.3 | 17.7 | 18.7 |
Market Analysis
The median home value in Bernalillo County is 52.0% above the New Mexico state average and 28.6% above the U.S. national average. The median rent of $1,144/month is 26.5% above the state average.
With a price-to-rent ratio of 21.3, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Bernalillo County has an owner-occupancy rate of 64.5%, compared to 74.2% in New Mexico and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Rockdale County | Georgia | $292,900 | $1,525 |
| Lincoln County | Washington | $292,800 | $883 |
| Copper River Census Area | Alaska | $292,800 | $1,089 |
| Converse County | Wyoming | $292,700 | $866 |
| Haines Borough | Alaska | $293,300 | $1,087 |
Other Counties in New Mexico
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Sandoval County | $313,800 | $1,427 | 83.5% |
| Rio Arriba County | $243,700 | $740 | 80.0% |
| Lincoln County | $233,200 | $956 | 76.8% |
| Valencia County | $223,000 | $1,015 | 83.2% |
| Doña Ana County | $220,800 | $934 | 65.5% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-13. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).