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Bernalillo County, NM

Albuquerque

RANK #703 / 996 NAT  ·  #8 / 11 NM  ·  POP 674,692

1YR FORECAST: +0.5%

5YR OUTLOOK: +19%

Our model projects Bernalillo County's housing market at +0.5% over the next year, underperforming most U.S. counties.

[01] Why Bernalillo County?

Bernalillo County, New Mexico, is distinguished by its diverse landscapes, from the Rio Grande's cottonwood bosque to the towering Sandia Mountains. The county seat, Albuquerque, is New Mexico's most populous city and a central hub. Commuting within the county and to Albuquerque is facilitated by major interstates like I-25 and I-40, along with public transportation options such as the New Mexico Rail Runner Express and ABQ RIDE buses, many of which are fare-free. The region offers extensive outdoor recreation, including the multi-use Paseo del Bosque Trail, the Sandia Peak Aerial Tramway, and numerous opportunities for hiking, biking, and birdwatching within its diverse natural settings.

Life in Bernalillo County blends urban and rural lifestyles, with a focus on community and access to amenities. The economy is experiencing growth, with ongoing investments in infrastructure and logistics, including the I-40 TradePort Corridor initiative. Local economic development efforts also support small businesses and entrepreneurship, particularly within the food industry through programs like the Semilla Initiative. The county prioritizes quality of life through initiatives supporting community wellness, social and cultural experiences, and access to vital services like healthcare, housing, and job training.

[02] Market Snapshot

Housing Ratio
3.8x

Undervalued relative to economy

GDP Growth
+2.2%

Below national median

Home Prices
+1.0%

Below national median

Climate & Terrain
3.8

Favorable climate & terrain

Price/Rent
14x

Above national median (13x)

Housing looks undervalued at 3.8x — home prices are low relative to local economic output. Climate and geography support a structural premium. The typical U.S. county is 4–6x.

[03] Top Employers

  1. 1
    New Mexico State Government Government
    25,000+
  2. 2
    US Federal Government Government
  3. 3
    Sandia National Laboratories Technology
    10,000+
  4. 4
    Walmart Retail
  5. 5
    University of New Mexico Education
  6. 6
    Presbyterian Healthcare Services Healthcare
  7. 7
    Albuquerque Public Schools Education
  8. 8
    City of Albuquerque Government
    5,000+
  9. 9
    McDonald's Hospitality
    2,500+
  10. 10
    Lovelace Hospitals Healthcare

Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.

[04] Home Value Growth vs National

Bernalillo County U.S. National

The Numbers

DEMOGRAPHICS
Population
674,692
-0.03% YoY
Median Household Income
$62,220
Median Home Value
$247,300
+0.98% 12mo
Median Rent
$1,017
Average Annual Pay
$63,493
+4.9% YoY
Employment
347,440
+1.0% YoY
Income-to-Home-Value
0.2516
More affordable than average
Migration Inflow
1.67%
of pop. from another state
Bachelor's Degree+
36.6%
of residents (national avg: 33%)

Market Activity

REAL ESTATE
Building Permits (2024)
1,316
Single-Family Permits
742

[05] Crime & Safety

D
SAFETY
GRADE
Homicide Rate
13.6
per 100K · nat avg 6.3
Firearm Fatalities
26.4
per 100K · nat avg 14.8
Injury Deaths
139.6
per 100K · nat avg 76.3
vs National Average
Well above national avg
based on homicide rate

Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →

[06] Air Quality

D
AIR QUALITY
GRADE
Median AQI (3yr)
61.7
Moderate
Good Air Days
22%
238 of 1,095 days
Unhealthy+ Days (3yr)
58
Includes 4 Very Unhealthy
Primary Pollutant
Ozone
Ground-level ozone
Yearly Trend
2021
63
2022
63
2023
59
Median AQI · lower is better

Source: EPA Air Quality System (2021–2023). Grade based on 3-year average median AQI. Learn about AQI →

[07] Capital Investment

$2,142M
TOTAL
PROJECT AMOUNT STATUS
Atrisco Solar and Energy Storage Project
Clenera (operated by Atrisco Energy Storage LLC)
$850M Operating
Magpie Energy Center (Solar & Battery Storage)
NextEra Energy Resources, LLC
$696M Proposed
Corazon Energy Storage LLC
Corazon Energy Storage LLC
$225M Proposed
Sun Lasso Energy Center (Battery Storage)
Sun Lasso Energy, LLC (affiliate of Aypa Power Development, LLC)
$190M Planned
Oso Negro Battery Storage Project
Plus Power
$175M Planned
Amazon Fulfillment Center (ABQ1 & WQQ5) and Sortation Center
Amazon
$6M Operating

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[08] Score Breakdown

GDP Growth +2.2% 40 percentile
Population Growth -0.0% 28 percentile
Income Growth +9.3% 69 percentile
Vacancy Rate 1.4% 28 percentile
Home Price Change +1.0% 44 percentile
Rent Growth +0.3% 13 percentile
Price/Rent 14x 44 percentile

Bars show percentile rank among all 996 counties.

[09] Frequently Asked Questions

Is Bernalillo County, NM a good place to move to?

At 29/100, Bernalillo County faces headwinds that place it in the lower third of the 996 counties we track. Median income of $62,220 combined with job growth of +1.0% suggests the local economy is struggling to keep pace with national trends.

Is Bernalillo County affordable?

Housing in Bernalillo County is roughly in line with national affordability norms. The median home costs $247,300 and the income-to-home-value ratio sits at 0.25, with rents averaging $1,017/month. Not a bargain, but not a stretch for most local earners either.

Is Bernalillo County growing or shrinking?

Population and employment in Bernalillo County are both close to flat — population -0.0% YoY and jobs +1.0%. Home values shifted +1.0% over the past 12 months. A steady-state county, neither expanding quickly nor shrinking.

Are many people relocating to Bernalillo County?

Not particularly — 1.67% of Bernalillo County's population moved in from another state, which is below the national average. Most residents are long-term locals rather than recent transplants.

[10] Similar Counties by Size & Score

Otero County, NM 34 Lea County, NM 37 Sandoval County, NM 17 McKinley County, NM 42 Doña Ana County, NM 42 Santa Fe County, NM 8 Multnomah County, OR 29 Baltimore County, MD 29