New Mexico’s Industrial Haven
Discover Albuquerque's Real Estate
The pink tone of the Sandia Mountains during sunset, the cottonwood bosque of the Rio Grande, and the hometown of Walter White and Saul Goodman make Albuquerque both culturally rich and naturally beautiful. The city is a perfect blend of urban and wild, with countless opportunities to explore.
Culture, History, and Business
Albuquerque is situated at the heart of New Mexico in the United States of America. The city was founded as a small Spanish colonial settlement in the year 1706 and was named after Duke Albuquerque. It is one of the oldest cities in the United States and is enriched with a multicultural heritage of Hispanic, Latino, and Native American influences. It is also considered the largest city in New Mexico.
Albuquerque is a good city to start a business or run an expansion. It provides a business-friendly atmosphere for the skilled workforce. Companies like NBC Universal, Carenet, Netflix, RiskSense, LSI, and many others have moved to Albuquerque because it has a great scope for business and offers an affordable cost of living as well as an excellent quality of life. Every business is welcome in Albuquerque, ranging from startups to big companies. The average household income in the city is $47,030, meaning that most households in Albuquerque are above the poverty level for families of three. About 9.2% of the entire population earns an annual income of less than $10,000.
Real Estate Appeal
The city provides great options for real investment and property sales. With the growing rental costs and affordable housing prices, Albuquerque has become favorable for investment. It is also an unbeatable market for investors seeking to buy an investment property. The parts of the city that enjoy the best rental rates are the University of New Mexico, Northeast Heights, Nob Hills, and Downtown. Sealing a good deal in any of these areas can earn you a great ROI.
Over the past year, property value in this city has risen by 5.4%, and the average home price is $202,200. Also, the real estate market is expected to get an additional 2.7% rise in 2020. The average price per square foot for properties in the city is $152. And the average rent here is $1,338.
It is no brainer that Albuquerque offers the best deals and incentives for property investors, and the best time to buy-in is now. To get more details about the reasons to invest and the hottest neighborhoods in this city, read our subsequent articles.
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