Department of Numbers

Bernalillo County New Mexico Residential Rent and Rental Statistics

The median monthly gross residential rent in Bernalillo County NM was $839 in 2017 according to the Census ACS survey.1 Average gross rent in Bernalillo County was $888 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Bernalillo County median and average rent data will be released in September of 2019.

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.

Show dollars as: Nominal Real

Real Gross Rent in Bernalillo County New Mexico (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
New Mexico Median Gross Rent $813 -0.37% +2.14%
Bernalillo County NM Median Gross Rent $839 +1.08% +1.70%

Bernalillo County NM Real Gross Rent Trends

At $839, real median gross rent in Bernalillo County was at its highest level in 2017 since the series began in 2005. At $888, real average gross rent in Bernalillo County was at its highest level in 2017 since the series began in 2005.

Real Gross Rent: Bernalillo County NM Median, Bernalillo County NM Average, New Mexico Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Bernalillo County

Date US
Median
New Mexico
Median
Bernalillo County NM
Median
Bernalillo County NM
Average
2017 $1,012 $813 $839 $888
2016 $996 $816 $830 $875
2015 $987 $806 $824 $860
2014 $956 $796 $825 $864
2013 $924 $788 $827 $859
2012 $912 $777 $796 $847
2011 $912 $764 $771 $806
2010 $927 $758 $807 $843
2009 $931 $752 $796 $829
2008 $947 $767 $796 $840
2007 $899 $726 $769 $808
2006 $909 $735 $767 $804

Bernalillo County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Bernalillo County New Mexico was 7.22% according to Census ACS data.

Rental Vacancy Rate in Bernalillo County New Mexico

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
New Mexico 8.29% -1.57% -0.12%
Bernalillo County NM 7.22% -0.55% -0.54%

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 2.30% to 7.22%. Data records for this series originated in 2005.

Rental Vacancy Rate: Bernalillo County NM, New Mexico, US

Rental vacancy rate in New Mexico

Historical Rental Vacancy Rate data for Bernalillo County

Date US New Mexico Bernalillo County NM
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%
2008 7.86% 7.55% 5.13%
2007 7.87% 9.64% 8.38%
2006 7.70% 8.42% 6.76%

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 19.74% in 2017 according to the ACS.

Bernalillo County New Mexico Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
New Mexico 20.87% +0.23% +0.06%
Bernalillo County NM 19.74% +0.36% -0.78%

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 0.78% to 19.74%.

Fraction of Income towards Rent: Bernalillo County NM, New Mexico, US

Percent of median household income going towards median monthly gross rent in Bernalillo County New Mexico

Historical Data for Annual Rent as a Fraction of Income in Bernalillo County New Mexico

Date US New Mexico Bernalillo County NM
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%
2008 19.00% 18.42% 17.76%
2007 18.66% 18.44% 18.02%
2006 18.90% 18.22% 17.68%

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 2017 36.76% of households were renters according to Census ACS data.

Bernalillo County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
New Mexico 32.08% -0.53% -1.01%
Bernalillo County NM 36.76% +0.65% -2.02%

Trends in the Bernalillo County NM Renter Fraction

The Bernalillo County household renter fraction peaked in in 2014 at 38.78% and is now 2.02% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Bernalillo County NM, New Mexico, US

Fraction of renters in Bernalillo County

History of Bernalillo County Renter Fraction

Date US New Mexico Bernalillo County NM
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%
2008 33.36% 30.83% 35.28%
2007 32.80% 29.99% 35.23%
2006 32.73% 30.32% 35.17%

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.