Bernalillo County New Mexico Residential Rent and Rental Statistics
The median monthly gross residential rent in Bernalillo County NM was $900 in 2019 according to the Census ACS survey.1 Average gross rent in Bernalillo County was $916 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Bernalillo County median and average rent data will be released in September of 2021.
Data is also available below for Bernalillo County rental vacancy rates, Bernalillo County rent as a percent of median income and the fraction of renters in Bernalillo County.
Real Gross Rent in Bernalillo County New Mexico (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| New Mexico Median Gross Rent | $847 | +0.24% | +0.59% |
| Bernalillo County NM Median Gross Rent | $900 | +1.58% | +5.26% |
Bernalillo County NM Real Gross Rent Trends
At $900, real median gross rent in Bernalillo County was at its highest level in 2019 since the series began in 2005. Average gross rent for Bernalillo County peaked in real terms in 2017 at $916 and is now $0 (0.00%) lower.
Real Gross Rent: Bernalillo County NM Median, Bernalillo County NM Average, New Mexico Median, US Median
Real Gross Rent History for Bernalillo County
| Date | US Median |
New Mexico Median |
Bernalillo County NM Median |
Bernalillo County NM Average |
|---|---|---|---|---|
| 2019 | $1,097 | $847 | $900 | $916 |
| 2018 | $1,077 | $845 | $886 | $903 |
| 2017 | $1,043 | $838 | $865 | $916 |
| 2016 | $1,027 | $842 | $855 | $903 |
| 2015 | $1,017 | $831 | $850 | $887 |
| 2014 | $986 | $820 | $851 | $891 |
| 2013 | $953 | $813 | $853 | $886 |
| 2012 | $940 | $801 | $821 | $873 |
| 2011 | $941 | $787 | $795 | $831 |
| 2010 | $955 | $781 | $832 | $869 |
| 2009 | $960 | $775 | $821 | $855 |
| 2007 | $927 | $748 | $793 | $833 |
| 2005 | $910 | $734 | $780 | $813 |
Bernalillo County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Bernalillo County New Mexico was 7.28% according to Census ACS data.
Rental Vacancy Rate in Bernalillo County New Mexico
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| New Mexico | 8.05% | -0.26% | -1.81% |
| Bernalillo County NM | 7.28% | -1.76% | -0.49% |
Trends in Bernalillo County NM Rental Vacancy Rate
The rental vacancy rate in Bernalillo County peaked in 2013 at 9.52%. Since then it has fallen by 2.24% to 7.28%. Data records for this series originated in 2005.
Rental Vacancy Rate: Bernalillo County NM, New Mexico, US
Historical Rental Vacancy Rate data for Bernalillo County
| Date | US | New Mexico | Bernalillo County NM |
|---|---|---|---|
| 2019 | 5.97% | 8.05% | 7.28% |
| 2018 | 6.15% | 8.31% | 9.04% |
| 2017 | 6.18% | 8.29% | 7.22% |
| 2016 | 5.89% | 9.86% | 7.77% |
| 2015 | 5.85% | 8.75% | 6.65% |
| 2014 | 6.32% | 8.41% | 7.76% |
| 2013 | 6.49% | 9.01% | 9.52% |
| 2012 | 6.77% | 8.62% | 7.02% |
| 2011 | 7.40% | 7.42% | 5.20% |
| 2010 | 8.17% | 7.31% | 6.10% |
| 2009 | 8.43% | 9.74% | 7.57% |
| 2007 | 7.87% | 9.64% | 8.38% |
| 2005 | 7.74% | 7.47% | 4.81% |
Rent as a Fraction of Income
Using median household income data for Bernalillo County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Bernalillo County, median monthly gross rent as a fraction of median household income was 19.25% in 2019 according to the ACS.
Bernalillo County New Mexico Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| New Mexico | 19.57% | -1.55% | -1.07% |
| Bernalillo County NM | 19.25% | -1.14% | -0.13% |
Trends in Bernalillo County NM Rent as a Fraction of Income
The fraction of median Bernalillo County household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 20.52%. Since then it has fallen by 1.27% to 19.25%.
Fraction of Income towards Rent: Bernalillo County NM, New Mexico, US
Historical Data for Annual Rent as a Fraction of Income in Bernalillo County New Mexico
| Date | US | New Mexico | Bernalillo County NM |
|---|---|---|---|
| 2019 | 20.03% | 19.57% | 19.25% |
| 2018 | 20.50% | 21.12% | 20.39% |
| 2017 | 20.13% | 20.87% | 19.74% |
| 2016 | 20.43% | 20.64% | 19.38% |
| 2015 | 20.63% | 20.70% | 20.13% |
| 2014 | 20.89% | 20.81% | 20.52% |
| 2013 | 20.78% | 21.12% | 20.14% |
| 2012 | 20.65% | 21.23% | 20.06% |
| 2011 | 20.70% | 20.85% | 20.11% |
| 2010 | 20.50% | 19.93% | 18.77% |
| 2009 | 20.12% | 18.96% | 18.97% |
| 2007 | 18.66% | 18.44% | 18.02% |
| 2005 | 18.89% | 18.79% | 17.60% |
Renter Fraction in Bernalillo County New Mexico
You can calculate the renter fraction in Bernalillo County in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Bernalillo County as a fraction of total Bernalillo County households. In 2019 36.18% of households were renters according to Census ACS data.
Bernalillo County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| New Mexico | 31.93% | -1.91% | -0.68% |
| Bernalillo County NM | 36.18% | -2.51% | +0.07% |
Trends in the Bernalillo County NM Renter Fraction
The Bernalillo County household renter fraction peaked in in 2014 at 38.78% and is now 2.60% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Bernalillo County NM, New Mexico, US
History of Bernalillo County Renter Fraction
| Date | US | New Mexico | Bernalillo County NM |
|---|---|---|---|
| 2019 | 35.89% | 31.93% | 36.18% |
| 2018 | 36.05% | 33.84% | 38.69% |
| 2017 | 36.13% | 32.08% | 36.76% |
| 2016 | 36.88% | 32.61% | 36.11% |
| 2015 | 36.97% | 32.55% | 38.08% |
| 2014 | 36.90% | 33.09% | 38.78% |
| 2013 | 36.50% | 32.09% | 38.38% |
| 2012 | 36.09% | 32.27% | 37.31% |
| 2011 | 35.42% | 31.84% | 37.93% |
| 2010 | 34.65% | 32.06% | 37.07% |
| 2009 | 34.13% | 30.67% | 36.46% |
| 2007 | 32.80% | 29.99% | 35.23% |
| 2005 | 33.10% | 30.70% | 35.42% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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