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Real Estate Prices & Overview

Loma Del Rey median real estate price is $376,018, which is more expensive than 74.1% of the neighborhoods in New Mexico and 54.9% of the neighborhoods in the U.S.

The average rental price in Loma Del Rey is currently $2,340, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 90.6% of the neighborhoods in New Mexico.

Loma Del Rey is a suburban neighborhood (based on population density) located in Albuquerque, New Mexico.

Loma Del Rey real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Loma Del Rey neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Real estate vacancies in Loma Del Rey are 3.9%, which is lower than one will find in 74.4% of American neighborhoods. Demand for real estate in Loma Del Rey is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Albuquerque, the Loma Del Rey neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

If you are an executive or professional seeking a neighborhood affording an executive lifestyle, or just wanting to find where other executives live in the area, the Loma Del Rey neighborhood should be on your list. It has an enviable mix of spacious homes, relatively stable real estate values, and residents that include a number of wealthy executives, managers, and professionals. NeighborhoodScout's exclusive analysis places it as one of the top 11.1% executive lifestyle neighborhoods in the state of New Mexico.

Diversity

Did you know that the Loma Del Rey neighborhood has more Arab and English ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 6.7% of this neighborhood's residents have Arab ancestry and 25.1% have English ancestry.

Loma Del Rey is also pretty special linguistically. Significantly, 5.0% of its residents five years old and above primarily speak Arabic at home. While this may seem like a small percentage, it is higher than 98.5% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Loma Del Rey neighborhood in Albuquerque are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 54.4% of the neighborhoods in America. With 31.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 82.7% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Loma Del Rey neighborhood, 56.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 24.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (9.6%), and 8.9% in manufacturing and laborer occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Loma Del Rey neighborhood is English, spoken by 76.6% of households. Other important languages spoken here include Spanish, Arabic, Korean and Polish.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Loma Del Rey neighborhood in Albuquerque, NM, residents most commonly identify their ethnicity or ancestry as English (25.1%). There are also a number of people of German ancestry (12.7%), and residents who report Mexican roots (9.8%), and some of the residents are also of Arab ancestry (6.7%), along with some Asian ancestry residents (5.3%), among others. In addition, 13.3% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Loma Del Rey neighborhood spend between 15 and 30 minutes commuting one-way to work (52.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (72.6%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (12.2%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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