Counties / New Mexico / Bernalillo County

Bernalillo County, NM

FIPS 35001 · population 673,930 · part of Albuquerque, NM

$354k
Zillow home value · 2026-06
The numbers

What this county costs and earns

Everything here joins on the county FIPS code, so each figure comes from the agency that publishes it with no name matching in between.

Zillow home value
$354k
▲ 1.2% year over year
Zillow ZHVI · direct
Median asking rent
$1,488
▲ 0.7% year over year
Zillow ZORI · direct
Gross yield
5.1%
annual rent ÷ price, before costs
derived: rent × 12 ÷ price ✓
HUD 2-bed standard
$1,464
market rent is 1.02x the standard
HUD Fair Market Rent · direct
Independent price check

Do two methods point the same way?

Zillow estimates a current home value. FHFA tracks repeat mortgage transactions. Their growth rates should be read side by side, not averaged.

Both annual signals move in the same direction
FHFA five-year cumulative+53.0%not annualized · through 2025
0%ZILLOW ZHVI2026-06+1.2%FHFA HPI2025+2.9%
Annual changes use different methods and may use different periods. The comparison checks direction and magnitude; it does not create a blended estimate. Zillow county ZHVI pulled 2026-07-26; FHFA annual county HPI pulled 2026-07-28.
Owner-reported value$293k
Surveyed gross rent$1,144
Rent burden 30%+52.0%
Median year built1982
Housing composition

Who occupies the stock—and what it is

ACS 2024 5-year
5.7%vacant
302,746estimated housing units
Occupied tenure35.5% renter
owner 64.5%renter 35.5%
Structure mix69.4% single-family
Single-family 69.4%20+ units 10.4%Mobile home 5.2%Other 14.9%
ACS estimates describe the standing housing stock and occupied tenure. They do not measure current listings, transaction prices or asking rents.

Survey source: Census ACS 5-year — county housing value, tenure and stock · ACS 2024 5-year · pulled 2026-07-30. These values describe different housing universes and are not combined into gross yield.

Annual average covered jobs347,374▼ 0.0% from the prior annual release
Covered establishments23,154annual average reporting locations
Average weekly wage$1,265▲ 3.6% from the prior annual release
Largest private supersectorEducation and health services21.6% of disclosed private covered jobs
Local labor base

Jobs, pay and private-sector concentration

2025
0%COVERED JOBS−0.0%WEEKLY WAGE+3.6%Education and health services21.6%
Annual QCEW counts cover jobs located at reporting establishments. The industry share uses disclosed private covered employment; it is not a resident-employment measure or a forecast.

Workplace source: BLS QCEW — county employment and wages · annual county employment and wages 2025 vs 2024 · pulled 2026-07-31. QCEW counts covered jobs located in the county, not employed residents or the metro score’s CES/LAUS series.

County brief

What the local evidence says

01Decision frame

In Zillow’s 2026-06 county observation, median home value is $353,723 and median asking rent is $1,488, with a supplied 5.05% gross yield before expenses. The supplied Zillow annual price change is positive. That is a screening yield, not a cash-flow result. The separately dated 2025 FHFA repeat-transaction HPI rose 2.93%; it confirms direction but is an index rather than a home value and cannot be blended with Zillow into one growth rate. Operators able to validate property-level costs should investigate; buyers relying on rapid resale or thin expense buffers should be cautious.

02Housing economics

Market rent is measured asking rent, whereas HUD’s two-bedroom FMR of $1,464 is a payment standard, not evidence of achievable rent; no yield is inferred from FMR. The provided effective property-tax rate is 0.90%, with median annual tax of $2,629, so gross yield must absorb taxes before insurance, repairs, management, vacancy, financing or flood mitigation. The record does not publish those costs, lease-up performance, rent distribution or submarket comparables; it therefore cannot establish net yield or property-level affordability.

03Demand & competition

Realtor.com MLS evidence shows 1,157 active listings, a measure of visible supply, and a 53-day median marketing time. Its price-reduced share signals seller concessions, while its listing prices remain asking prices—not closed sales or stand-alone proof of buyer demand. Tax-return migration recorded a net outflow of 801, and inbound movers reported lower average AGI than outbound movers. Meanwhile, 424 investor purchases out of 7,694 total purchases indicate some non-owner competition but not its bidding behavior. QCEW annual covered workplace jobs were nearly flat; education and health services is the largest disclosed private supersector, not the entire county economy.

04Risk & next checks

Inland flood is the dominant hazard; the modeled annual climate-loss ratio is 0.10% of building value, not a parcel loss estimate. Address-level review should cover flood zone, insurance, deductible, drainage and replacement cost; operating insurance is not published. Obtain closed-sale and rent comps, tax bills, utility and repair histories, flood quotes, loan terms, vacancy and tenant-income evidence. These determine whether gross yield survives carrying costs and MLS conditions support an exit.

Cities & communities

Where people live within Bernalillo County

Census-recognized incorporated places and CDPs that intersect this county. The list does not pretend to include every neighborhood or informal community.

Population scale

Largest Census places

ACS 2024 5-year
Albuquerque city562.2KRio Rancho city*108.5KSouth Valley CDP37.1KNorth Valley CDP10.5KEdgewood town*6.1KLos Ranchos de Albuquerqu…5.9KParadise Hills CDP4.6KKirtland AFB CDP3.4K
Bars use total place population, not a county-share estimate. An asterisk marks a place that crosses a county line.
Official directory

25 Census places

Population
  1. 01
    Albuquerque cityIncorporated place
    562,218
  2. 02
    Rio Rancho cityIncorporated place · spans 2 counties
    108,515
  3. 03
    South Valley CDPCensus-designated place
    37,120
  4. 04
    North Valley CDPCensus-designated place
    10,455
  5. 05
    Edgewood townIncorporated place · spans 3 counties
    6,124
  6. 06
    Los Ranchos de Albuquerque villageIncorporated place
    5,857
  7. 07
    Paradise Hills CDPCensus-designated place
    4,591
  8. 08
    Kirtland AFB CDPCensus-designated place
    3,413
  9. 09
    Sandia Heights CDPCensus-designated place
    3,160
  10. 10
    Sandia Knolls CDPCensus-designated place
    1,445
  11. 11
    Ponderosa Pine CDPCensus-designated place
    1,442
  12. 12
    Barton CDPCensus-designated place · spans 2 counties
    1,302
Show 13 more places
  1. 13
    Isleta CDPCensus-designated place
    1,043
  2. 14
    Cedar Crest CDPCensus-designated place
    886
  3. 15
    Carnuel CDPCensus-designated place
    877
  4. 16
    Paa-Ko CDPCensus-designated place
    743
  5. 17
    San Antonito CDP (Bernalillo County)Census place
    688
  6. 18
    Sedillo CDPCensus-designated place
    565
  7. 19
    Tijeras villageIncorporated place
    524
  8. 20
    Cedro CDPCensus-designated place
    372
  9. 21
    Sandia Park CDPCensus-designated place
    333
  10. 22
    Edith Enclave CDPCensus-designated place
    185
  11. 23
    Pajarito Mesa CDPCensus-designated place
    83
  12. 24
    Chilili CDPCensus-designated place
    46
  13. 25
    Manzano Springs CDPCensus-designated place · spans 2 counties
    7

Population is the total place-wide ACS estimate, not an allocated county share. A place crossing a county line is labelled explicitly. Source: Census ACS 5-year — cities and communities · ACS 2024 5-year · pulled 2026-07-30.

Risk, demand and competition

The three things a price does not tell you

01
Risk & carrying costFEMA NRI + Census ACS
Dominant hazardinland flooding

0.105% of building value expected lost per year

Effective property tax0.90%

$2,629 median annual bill

02
DemandIRS SOI household flows
Net migration-801

14,443 in · 15,244 out

Arriving vs leaving income−$9,570

$59,619 arriving · $69,189 leaving

03
CompetitionHMDA financed purchases
Purchases by investors5.5%

424 of 7,694 mortgages

investorother financed
Current listing pressure

What sellers and visible supply are doing

Realtor.com® Economic Research · county inventory 2026-06 · pulled 2026-07-28
Active listings1,157▼ 9.4% year over year
Median days on market53▼ 2.8% year over year
Listings price-reduced20.4%seller-concession signal
Median listing pricen/a▼ 1.0% year over year

Listing price is an asking price, not a closed sale. Quality-flagged county rows are withheld instead of displayed.

Same metro

The other counties in Albuquerque, NM

A metro is an average of these. Which side of a county line a property sits on can change the tax bill, the hazard profile and the tenant pool.

CountyPopulationPriceRentYieldHazard
Bernalillo County673,930$354k$1,4885.1%inland flooding
Sandoval County153,604$379k$1,8505.9%inland flooding
Valencia County78,458$318k$1,8857.1%inland flooding
Torrance County15,490$234kn/an/ainland flooding
Bear case

What can break the county thesis

  1. Actual insurance, repairs, vacancy, financing and management costs could erase the pre-expense yield.
  2. County-level flood-loss modeling may conceal materially different parcel exposure and coverage.
  3. MLS listings and tax-return migration may not translate into closed-sale liquidity or tenant demand.
Underwriting questions

Before pricing a property

Can HUD Fair Market Rent be used to calculate gross yield?

No. It is a two-bedroom payment standard, while the record separately publishes market asking rent and gross yield.

Do the Realtor.com figures establish closed-sale pricing?

No. They describe MLS asking prices, active listings, marketing time and reductions, not closed sales.

What prevents a net-income conclusion?

Operating expenses, vacancy, insurance, financing, and property-level rent and sales comps are not published.