Some key fundamentals are on the rise in Albuquerque, New Mexico's multifamily family sector, even as deliveries grow. Most notably, occupancy has shown its strength, as highlighted in a 2024 report from Colliers. The category improved by 1.8 percentage points from last year to 95.5 percent, which ranks the city 55th of the 150 top markets in the country and 15th among Western regions.

In addition, rents saw healthy growth in the fourth quarter, increasing 1.8 percent year-over-year. However, the rate is still significantly below Albuquerque's five-year average by 7.8 percent.

That comes as new deliveries for apartments hit 1,527 in 2024, increasing the inventory by 2.7 percent. Some 1,251 units were under construction at the end of the year, with 1,145 set to be finished in 2025.