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Albuquerque, NM mortgage & affordability calculator

The typical home in Albuquerque, NM is worth about $340,000. With 20% down that's a loan near $272,000 — the calculator is pre-filled with that figure. A slower-growth Southwestern market where prices rose during the pandemic and have held rather than retreated. Property taxes are moderate, and the affordability constraint is more about local incomes than the sticker price.

$1,766.00 / month

Total interest
$363,755
Total paid
$635,755
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$68k$136k$204k$272k0612182430Year

How much you need to earn

Albuquerque, NM's median household income is about $62,000 a year. Under standard 28/36 lending rules that supports a home price around $230,235 with 20% down — below the $340,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.

$230,301 max home price

Max loan amount
$162,301
Housing payment budget
$1,447
P&I budget
$1,054
Bound by
front-end ratio

Uses the 28% front-end / 36% back-end DTI guidelines. Lenders vary.

Typical asking rent in Albuquerque, NM is about $1,300 a month, so owning the median home costs roughly $859 more per month before tax effects, maintenance, and any change in home value.

Frequently asked questions

What is a typical mortgage payment in Albuquerque, NM?
On the metro's roughly $340,000 typical home with 20% down, the loan is about $272,000. Principal and interest run near $1,766 a month at today's rate, and Albuquerque, NM's property tax plus insurance add about $393, for a full payment near $2,159.
Can I afford a home in Albuquerque, NM on the median income?
The median household income is about $62,000 a year. Under standard 28/36 lending rules that supports a home price around $230,235 with 20% down — below the $340,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Albuquerque, NM?
Typical asking rent is about $1,300 a month. The full owner payment on a median home is near $2,159, so owning costs roughly $859 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Albuquerque, NM?
The effective property tax rate in the core county is about 0.80% of market value — roughly $2,720 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Albuquerque, NM rising or falling?
Home values are up about 4% over the past year. A slower-growth Southwestern market where prices rose during the pandemic and have held rather than retreated. Property taxes are moderate, and the affordability constraint is more about local incomes than the sticker price.

Nearby metros

← All New Mexico mortgage figures

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