Insights
New Mexico
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VACANCY
Apartment
Average Vacancy Rate 3.3%
- Sixth lowest in the nation, and the second in the West region, behind only Sacramento.
- No change since year-end 2020.
- Lowest level since Q1 2015.
Distribution / Warehousing
Average Vacancy Rate 6.3%
- Eighth lowest in the nation and the third lowest in the West.
- Drifted downward by 30 basis points.
- Expected to finish 2021 at 6.4%.
Office
Average Vacancy Rate 22.2%
- Increased by 120 basis points.
- Among the 20 highest vacancies nationally.
- Expected to finish 2021 at 22.6%.
Retail
Average Vacancy Rate 12.6%
- Drifted downward by 10 basis points.
- Expected to finish 2021 at 15.0%.
RENT
Apartment
Average Asking Rent $924
- Up 0.6% from year-end 2020.
- Fastest rate of increase in four quarters.
- Expected to finish 2021 at $940.
Distribution / Warehousing
Average Asking Rent $6.13
- Up 0.2% from year-end 2020.
- Expected to finish 2021 at $6.20.
Office
Average Asking Rent $17.29
- Flat since year-end 2020.
- Expected to finish 2021 at $17.11.
Retail
Average Asking Rent $14.44
- Up 0.3% from year-end 2020.
- Expected to finish 2021 at $14.13.
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.