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New Mexico
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VACANCY
Apartment
The average Vacancy Rate was 2.9% in the Albuquerque metro
- Vacancy in the Albuquerque metro drifted downward by 10 basis points.
- The Albuquerque metro was among the 20 lowest vacancies nationally.
- Vacancy is expected to finish 2022 at 3.0% in the Albuquerque metro.
Distribution / Warehousing
The average Vacancy Rate was 5.6% in the Albuquerque metro
- No vacancy change since year-end 2021 in the Albuquerque metro.
- The Albuquerque metro had the lowest vacancy level since Q1 2017.
- Vacancy is expected to finish 2022 at 5.4% in the Albuquerque metro.
Office
The average Vacancy Rate was 22.0% in the Albuquerque metro
- Vacancy in the Albuquerque metro drifted downward by 10 basis points.
- Vacancy is expected to finish 2022 at 22.1% in the Albuquerque metro.
Retail
The average Vacancy Rate was 12.1% in the Albuquerque metro
- No vacancy change since year-end 2021 in the Albuquerque metro.
- The Albuquerque metro had the lowest vacancy level since Q3 2015.
- Vacancy is expected to finish 2022 at 12.4% in the Albuquerque metro.
RENT
Apartment
The average Asking Rent was $1,168 in the Albuquerque metro
- Rent in the Albuquerque metro was up 2.0% from year-end 2021.
- Rent Has risen for six consecutive quarters in the Albuquerque metro.
- Rent is expected to finish 2022 at $1,207 in the Albuquerque metro.
Distribution / Warehousing
The average Asking Rent was $6.59 in the Albuquerque metro
- Rent in the Albuquerque metro was up 1.4% from year-end 2021.
- Rent Has risen for eight consecutive quarters in the Albuquerque metro.
- Rent is expected to finish 2022 at $6.76 in the Albuquerque metro.
Office
The average Asking Rent was $17.40 in the Albuquerque metro
- Rent in the Albuquerque metro was up 0.1% from year-end 2021.
- Rent is expected to finish 2022 at $17.42 in the Albuquerque metro.
Retail
The average Asking Rent was $14.44 in the Albuquerque metro
- Rent in the Albuquerque metro was down 0.1% from year-end 2021.
- Rent is expected to finish 2022 at $14.50 in the Albuquerque metro.
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.