Albuquerque is New Mexico’s largest city and has become a key destination for Real Estate investors. It is an attractive place, with affordable housing, low cost of living, low cost of running a business, and excellent quality of life. Albuquerque has some of the best neighborhoods for young adults, families, and seniors alike.
Several property types in the region derive a sizable interest from the citizens and those moving into the city. These include single-family homes, apartments, vacation homes, and townhouses in some of the amazing neighborhoods.
What Makes Albuquerque Attractive for Investment?
Each Albuquerque neighborhood have several factors that make them great investment areas. Some of the leading factors are discussed below.
Population Growth
Not only is Albuquerque the largest city in New Mexico, but the Albuquerque population has also been on a steady increase growing faster than the entire state. Families with children who do to school and young professionals and college students are flocking to the Albuquerque. With this, property investors and real estate agents are assured of a ready space for their developments.
Business Growth
Albuquerque, NM is experiencing a significant rise in business and economic activity. There are plenty of local shops and big stores as well as companies to create jobs. This makes the city a profitable area for business people and young professionals who will then create an ideal environment for rental properties.
The rise in economic activity also makes the city attractive for young professionals and business people seeking new grounds. Some of the major employers include Kirtland Air Force Base, Blue Cross, General Mills, Blue Shield, and Sandia National Labs.
As a result of the growth in businesses and industries, the unemployment rate in the area is down to single digits. There are plenty of job opportunities in Albuquerque neighborhoods. This should be music to the ears of future landlords. You are guaranteed that your tenants have the resources to meet your rental needs.
Attractive Renters’ Market
Properties in an Albuquerque, NM neighborhood generate steady cash flow and value appreciation. With this in mind, investors are statistically inclined to invest in Albuquerque real estate due to the median home price and neighborhood value.
The renters’ market can also be associated with the increase in population in the area. The current supply cannot meet the demand, increasing the cost of ownership. Most citizens, therefore, seek to lease space in lieu of buying property.
Affordable Homes
Based on several indices and measures such as the Kiplinger affordability index, housing in Albuquerque is much more affordable compared to other cities. Even downtown Albuquerque is as more affordable area compared to other downtown New Mexico cities.
Some of the neighborhoods in Albuquerque have home prices that are much lower than the rest of the state. There are several properties in some of the best neighborhoods for people to choose from depending on their financial capabilities.
Quality of Life
The way of living in Albuquerque is among the best in New Mexico based on several factors such as the low cost of living compared to the national average, semi-arid climate, exceptional educational facilities, and several outdoor recreation activities such as the historical Albuquerque museum and art galleries. In this vibrant area, tenants are never too far from good schools like La Cueva High School, in safe neighborhoods with low crime rate, excellent restaurants, shops, and a great way of living.
The location of the best Albuquerque neighborhoods checks a lot of tenants boxes, not only to visit, but to live, be it for the location of the excellent neighborhoods, the great outdoor recreation, or the amazing quality of life Albuquerque provides.
There is always something fun do to, be it shopping centers, live music, or coffee shops in downtown ABQ, or outdoor recreation on walking paths. There’s always something exciting for young adults and plenty of family fun.
Real Estate investors are attracted to the following regions in Albuquerque for investment:
Downtown
As opposed to the norm in most cities, downtown Albuquerque is an affordable region to rent out a house. Even though the prices are higher than in the suburban and rural areas of the city, one can be sure to some of the best places to rent. These can be unique homes or apartments in some of the good neighborhoods this lifestyle has to offer.
A real estate agent would be happy to help you with owning property in the city center since it affords your tenants little or no commute time to their place of work. Most young professionals will be willing to pay the extra coin to be close to the city center. This is true for long term tenants and people who visit the city for a short time. It also offers easy access to many local restaurants which include a lot of great options for Mexican food.
Nob Hill
Nob Hill is Albuquerque’s commercial district and home to several historic places listed in the National Registry. The amenities in this historic old town are attractive to not only tourists, but also the local residents.
Some of these historic places include the Monte Vista Fire Station, the Nob Hill Business Center, The De Anza Motor Lodge, and the Jones Motor Company.
Nob Hill is a choice region for investors looking to develop properties for the working class and lower-middle-class professionals. There is also room for exploring various property types that go for different price ranges in Nob Hill.
North Valley
North Valley is one of the most affordable neighborhoods in Albuquerque, making it a great place for young tenants to explore. Real Estate investors in the area develop properties or house for the lower-middle-class income earners.
It is in a lush green valley that runs along the Rio Grande and is an area known for peaceful spas, wineries, coffee shops, parks, many local restaurants, and farmers’ markets. It is the perfect place to have a fun picnic in one of the parks and explore the trails for nature lovers.
This neighborhoods hosts other great outdoor activities such as hiking, bicycling, and several cultural activities.
South Valley
South Valley is an attractive town and area for investment in ABQ. It appeals to young families as it is a humble town with social amenities that make it a great place to raise a family. It has great schools and some of the good neighborhoods in the aouth area. This neighborhood boasts not only great schools and restaurants, but also beautiful homes.
Investors can expect great returns from investing in properties such as single-family units. These also have varying ranges of square footage.
Ventana Ranch
Ventana Ranch is one of the planned community towns or areas in Albuquerque that has been receiving several new citizens from New Mexico. It is a preferred location for individuals and families seeking a more comfortable area to call home. Due to the good schools, university, bars, and restaurants, this neighborhood is an ideal place for tenants to stay long-term.
Located on ABQ’s Westside, it offers quick access to the shopping district, eating establishments, bars, and the new Presbyterian Rust Medical Center.
The area has urban and panoramic mountain views that contribute to its attraction among residents, especially those who enjoy hiking trails. Developers here find great opportunities to satisfy the housing needs of the tenants and offer them at affordable prices.
Bottom Line
With its affordable real estate options and many attractions there is no better time to invest in Albuquerque. Albuquerque sits on many neighborhoods which are interesting and profitable.
If you are ready to invest in neighborhoods in Albuquerque, we recommend that you consider rental properties in Ventana Ranch, South Valley, North Valley, Nob Hill, and the Downtown Area. Even with its convenient location, you are going to need an experienced hand to help you on your property journey.
Blue Door Realty is a local and family-owned company, with a team that prides itself on delivering exceptional property management services to our clients. As solution providers, the staff and team members are regularly trained to stay current on matters in the industry.
Blue Door Realty manages various properties such as condominiums, single-family homes, and offices. In the case of self-managed communities, we offer consultancy services regarding budgeting, special assessment billing, bookkeeping, and reserve planning.