Q1 2025 Albuquerque Multifamily Market Report

Market Overview

Albuquerque’s multifamily sector showed modest growth in Q1 2025, with average asking rents increasing by 1.4% year-over-year and vacancy hovering just below 6%. The Northeast Heights and West Mesa submarkets led absorption, driven by strong renter demand and limited new deliveries. Construction has slowed significantly, with fewer than 400 units expected to come online this year. With affordability remaining a core strength, Albuquerque continues to attract both renters and investors seeking steady, lower-volatility returns. The city’s role as a healthcare, research, and aerospace hub further bolsters long-term multifamily demand.

About Colliers

Colliers is a global leader in real estate services, offering data-backed reports that combine local brokerage insights with global research trends. Their Albuquerque multifamily reports highlight leasing dynamics, construction activity, and economic drivers, delivering concise intelligence for investors and developers in secondary markets. Known for combining narrative clarity with strong visuals and actionable takeaways, Colliers provides the kind of market context that supports both short-term moves and long-term strategy.

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