Resale price movement is the central cross-source tension for this ZIP. In Redfin’s direct rolling-three-month ZIP resale observation through June 30, 2026, median sold price was $449,398, up 39.1% year over year, alongside 90 homes sold and a 37-day median marketing time. Reported inventory was 78 homes, representing 2.6 months of supply. The average sale-to-list ratio was 98.8%, and 27.3% of sales sold above list. These are for-sale market and liquidity observations, not rental transactions, rental comparables, or property economics. Annualized ZIP ZORI divided by median sold price produces a 3.2% cross-source screening ratio only, not a cap rate, net return, expected return, or property yield. The sharp resale change challenges any simple alignment with the slower rent-history growth and income screen reported here.
Against that resale backdrop, the current rental signal is Zillow ZORI of $1,202 in June 2026. ZORI is a typical observed asking-rent index blended across rental types, rather than a contract rent, a bedroom-specific observation, or a measure of occupied homes. In the same sentence and with their broader scopes stated, Albuquerque city context is about $1,486, Bernalillo County context is $1,488, and Albuquerque, NM metro context is $1,522. Those city, county, and metro asking-rent values are context only; they do not replace the direct ZIP index or identify the rent of any individual listing.
The five-digit label 87107 is both a Zillow ZIP market identifier and a Census ZCTA match. A ZCTA is a statistical area and is not identical to a USPS delivery ZIP, which matters when reading the two source universes. ACS 2024 five-year data show a $998 median gross rent for occupied renter homes, including selected utilities. That is $204, or 20.4%, below the ZORI signal. This is not a contradiction: ACS is a survey of occupied renter homes over five years, whereas ZORI reflects typical observed asking rents across rental types at its stated current period. Neither series converts the other into an individual lease price.
The current rent snapshot sits within a fully covered but high-variability history. Exact same-month annualized ZORI changes were 2.7% over one year, 2.8% over three years, and 7.2% over five years. Recent direction therefore remains positive and confirms an upward path, yet the slower shorter-period pace breaks from the faster longer path. Monthly-return variation annualizes to 3.7%, reducing confidence that one current rent snapshot represents a smooth sequence. Separately, the maximum drawdown reached 2.3%, documenting a historical peak-to-trough decline. Transparent national discovery ranks were 1,104 for momentum, 2,421 for stability, and 1,855 for the balanced score among history-eligible ZIPs, where lower is higher. These are backward-looking measurements, not forecasts or investment recommendations.
Bedroom sizing adds a modelled view rather than direct observation. Using the ZIP ZORI scaled by the local HUD ladder, modelled monthly ZIP estimates are $828 for a studio, $973 for one bedroom, $1,202 for two bedrooms, $1,672 for three bedrooms, and $1,970 for four bedrooms. They are modelled estimates, never measured bedroom rents. HUD’s FY2026 FMR/SAFMR is an administrative bedroom-specific standard, not asking rent; its two-bedroom standard is $1,464. The modelled two-bedroom figure equals 82.1% of that HUD standard, describing the scaling relationship rather than a market discount, eligibility determination, or lease offer. Housing type, utility treatment, and occupied-versus-asking status differ across these evidence universes.
Affordability signals remain mixed even before property-level differences are considered. The 30% required-income screen puts annual income at $48,080 for the current ZIP asking-rent index, versus a matched-ZCTA ACS median household income of $61,672; that arithmetic corresponds to asking rent equal to 23.4% of median household income. It is not advice and is not an applicant qualification rule. ACS reports that 49.3% of renter households had a gross-rent burden at or above the screen threshold. That burden result describes surveyed occupied renter households, not a live listing population, and cannot prove the burden, availability, utilities, or affordability of a particular unit.
Housing stock and vacancy provide a separate descriptive lens. The matched ACS ZCTA contains 13,614 housing units and records a 6.6% vacancy rate; renter occupancy represents 34.4% of occupied homes. The structure mix is led by 9,773 single-family units rather than large-multifamily units. ACS also categorizes 473 vacant homes as for rent. These are survey counts and classifications across the ZCTA, not a live availability feed. A vacancy category cannot demonstrate that a given unit is empty, rentable now, priced at ZORI, or suitable for a specific household, so the housing-composition evidence supplements rather than validates an advertised rent.
Several limits prevent a ZIP-level dashboard from resolving a particular property. ZORI blends rental types and asking rents, ACS summarizes surveyed occupied renters with selected utilities, HUD supplies administrative standards, and Redfin describes only resale activity; none is a unit inspection, lease file, or appraisal. Concrete property-level checks include the advertised bedroom count, asking rent, lease term, included and separately billed utilities, concessions, active listing status, and listing date. The record should also distinguish a current rental listing from a sold-home observation and compare stated terms with the appropriate source universe rather than treating any benchmark as a quote. The remaining question is whether verifiable property terms fit the reader’s own use case, not whether one ZIP statistic settles them.
","findings":[{"body":"At $1,202, the June ZIP ZORI is below the broader Albuquerque city, Bernalillo County, and Albuquerque metro asking-rent context figures. It is a blended typical observed asking-rent index, not a unit-level lease quote. The comparison is useful for location-level orientation, but the wider geographies do not substitute for the direct ZIP reading.","title":"Asking rent is below broader context"},{"body":"Matching-month ZORI growth was positive over one and three years, but each pace remained below the five-year annualized change. Full historical coverage documents the series, yet the high-variability classification and weaker stability discovery rank make a single current ZORI value less representative of a smooth path. The history ranks and scores are comparative discovery tools, not forecasts, investment recommendations, or property-level underwriting.","title":"Positive rent history has not been smooth"},{"body":"The $48,080 income screen at 30% is below the ZCTA median household income, while 49.3% of surveyed renter households carry gross-rent burden at or above that threshold. Those measures answer distinct questions: the first compares an index with an area median, and the second describes occupied renters in a five-year survey. Neither determines a person’s eligibility or a specific unit’s affordability.","title":"Income arithmetic and renter burden give different signals"},{"body":"Redfin reports resale, not rental, conditions: a $449,398 median sold price, a 39.1% annual price change, and measurable transaction pace and supply. Dividing annualized ZORI by the sale price gives a 3.2% cross-source screen. The much faster resale price movement than recent asking-rent growth is a tension, not a return forecast or evidence of a property’s operating results.","title":"Resale evidence does not move in step with rent history"}],"risks":["ZORI is a blended typical asking-rent index, so a single property’s lease quote, concessions, utilities, condition, furnishing, and bedroom mix can depart materially from the ZIP reading.","ACS estimates describe the matched ZCTA’s occupied renter households over five years and have survey uncertainty; they are not contemporaneous asking rents and do not map exactly to USPS delivery ZIP boundaries.","HUD FMR/SAFMR values are administrative bedroom-specific standards, while the displayed bedroom figures are ZORI-scaled modelled estimates; using either as a measured lease quote would conflate unlike evidence universes.","Redfin’s rolling three-month ZIP resale series can signal transaction pace and pricing, but it excludes rental transactions and cannot establish a property’s rent, expenses, condition, financing, or net economics."],"qa":[{"a":"ZORI is a current ZIP-level typical observed asking-rent index blended across rental types. ACS is a five-year survey of occupied renter homes in the matched ZCTA and includes selected utilities in gross rent. A ZCTA is a statistical area rather than an identical USPS delivery ZIP, so timing, geography, occupancy, and rent definition all differ.","q":"Why do ZORI and ACS gross rent differ?"},{"a":"No. The figures are modelled monthly ZIP estimates produced by scaling the ZIP ZORI with the local HUD bedroom ladder. They are intentionally not measured studio, one-bedroom, or larger-unit asking rents. HUD FMR/SAFMR itself is an administrative standard, not a rental asking-rent series, so neither number should be read as a property quote.","q":"Are the bedroom estimates observed bedroom rents?"},{"a":"The required-income figure is simply the annual income that places the ZIP asking-rent index at 30% of income. It is arithmetic, not advice or an applicant qualification rule. The burden share is separate ACS survey evidence about occupied renter households reporting gross-rent burden; it does not prove an individual household’s expenses, eligibility, or unit affordability.","q":"How should the 30% income figure and burden statistic be read?"},{"a":"No. Redfin’s direct rolling-three-month ZIP figures report for-sale and resale outcomes such as sold price, transaction volume, marketing time, inventory, supply, and sale-to-list behavior. Annualized ZORI divided by median sold price is only a cross-source screening ratio. It omits property-specific costs and is not a cap rate, property yield, net return, or expected return.","q":"Does the resale screen describe an investment return?"}],"sources":[{"key":"apartment_list_time_on_market","name":"Apartment List Time on Market — listing liquidity","release":"Apartment List 2026-07","pulledAt":"2026-08-08","url":"https://www.apartmentlist.com/research/category/data-rent-estimates"},{"key":"apartment_list_vacancy","name":"Apartment List Vacancy Index — rental vacancy","release":"Apartment List 2026-07","pulledAt":"2026-08-08","url":"https://www.apartmentlist.com/research/apartment-list-vacancy-index-methodology"},{"key":"census_zcta_facts","name":"Census ACS five-year — ZCTA housing and income","release":"ACS 2024 5-year ZCTA","pulledAt":"2026-08-08","url":"https://api.census.gov/data/2024/acs/acs5.html"},{"key":"hud_zip","name":"HUD USPS crosswalk and Small Area FMRs — ZIP rent fallback","release":"ZIP-CBSA 2025Q4 + SAFMR 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