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Albuquerque's Multifamily Market Sees Strong Occupancy Despite Inventory Growth

The category improved by 1.8 percentage points from last year to 95.5 percent

By Anthony Russo | January 31, 2025 at 06:30 PM

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.

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