Insights
New Mexico
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VACANCY
Apartment
Average Vacancy Rate 3.5%
- Seventh lowest in the nation and the third lowest in the West.
- Drifted downward by 30 basis points.
- Lowest level since Q1 2015.
Distribution / Warehousing
Average Vacancy Rate 7.2%
- Declined by 90 basis points.
- Expected to finish 2019 at 8.7%.
Office
Average Vacancy Rate 19.8%
- No change since Q1 2020.
- Expected to finish 2020 at 22.3%.
Retail
Average Vacancy Rate 12.0%
- Drifted downward by 20 basis points.
- Lowest level since Q2 2015.
- Expected to finish 2020 at 15.0%.
RENT
Apartment
Average Asking Rent $917
- Up 0.1% from Q1 2020.
- Has risen for ten consecutive quarters.
- Expected to finish 2020 at $892.
Distribution / Warehousing
Average Asking Rent $6.08
- Up 0.7% from year-end 2018.
- Fastest rate of increase in five quarters.
- Expected to finish 2019 at $6.11.
Office
Average Asking Rent $17.32
- Flat since Q1 2020.
- Expected to finish 2020 at $17.10.
Retail
Average Asking Rent $14.86
- Down 0.5% from Q1 2020.
- Expected to finish 2020 at $14.17.
VACANCY
Distribution / Warehousing
Average Vacancy Rate 8.4%
- Lowest in the Southwest region, thirty-ninth lowest in the nation.
- Fell by 110 basis points.
- Expected to finish 2019 at.
RENT
Distribution / Warehousing
Average Asking Rent $4.31
- Up 0.5% from year-end 2018.
- Expected to finish 2019 at.