Rent vs Buy in Albuquerque, NM
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Albuquerque, NM
Price-to-rent ratio is 21.9 (under 15 favors buying, over 21 favors renting). Renting costs $1,331/mo; owning runs about $2,606/mo — $1,275/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $1,849 |
| Property tax | $320 |
| Home insurance | $145 |
| Maintenance | $291 |
| Total to own | $2,606 |
| Average 2BR rent | $1,331 |
Based on a median home value of $349,190 with a $69,838 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.