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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Bernalillo, NM Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Bernalillo, NM Housing Market Trends

With 9,898 people, 3,908 houses or apartments, and a median cost of homes of $361,404, Bernalillo real estate is some of the most expensive in New Mexico, although Bernalillo home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Bernalillo, accounting for 62.55% of the town's housing units. Other types of housing that are prevalent in Bernalillo include mobile homes or trailers ( 26.69%), large apartment complexes or high rise apartments ( 6.00%), and a few row houses and other attached homes ( 2.52%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bernalillo. Owner-occupied housing accounts for 75.30% of Bernalillo's homes, and 67.09% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Bernalillo built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Bernalillo built between 2000 and later ( 34.09%). A lesser amount of the housing stock also hails from between 1940-1969 ( 15.96%). There's also some housing in Bernalillo built before 1939 ( 3.36%).

Bernalillo Home Appreciation Rates

In the last 10 years, Bernalillo has experienced some of the highest home appreciation rates of any community in the nation. Bernalillo real estate appreciated 111.43% over the last ten years, which is an average annual home appreciation rate of 7.77%, putting Bernalillo in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Bernalillo definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Bernalillo that despite a nationwide downturn in the housing market, Bernalillo real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bernalillo appreciation rates continue to be some of the highest in America, at 8.26%, which is higher than appreciation rates in 87.97% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bernalillo. Bernalillo appreciation rates in the latest quarter were at 0.76%, which equates to an annual appreciation rate of 3.06%.

Relative to New Mexico, our data show that Bernalillo's latest annual appreciation rate is higher than 90% of the other cities and towns in New Mexico.

Average Home Values

Median Home Value

$361,404

Bernalillo, NM Home Prices
> $1,544,000
$1,158,001 - $1,544,000
$772,001 - $1,158,000
$618,001 - $772,000
$464,001 - $618,000
$309,001 - $464,000
$155,001 - $309,000
$77,001 - $155,000
$0 - $77,000
0.6%
0.6%
2.6%
2.6%
1.6%
1.6%
7.0%
7.0%
17.6%
17.6%
24.4%
24.4%
24.5%
24.5%
8.0%
8.0%
13.6%
13.6%
0% 100.0%
% of Homes
Very High

for New mexico

High

for nation

Number of Homes And Apartments:

3,908

Bernalillo Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,565 / per month

Homeownership Rate

Owners
Renters
75.3%
75.3%
24.7%
24.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.2%
6.2%
93.8%
93.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
34.1%
34.1%
46.6%
46.6%
16.0%
16.0%
3.4%
3.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.6%
62.6%
2.5%
2.5%
1.7%
1.7%
6.0%
6.0%
26.7%
26.7%
0.5%
0.5%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.9%
0.9%
1.8%
1.8%
28.7%
28.7%
55.4%
55.4%
11.7%
11.7%
1.5%
1.5%
0% 100.0%
% of Homes

Popular Neighborhoods in Bernalillo

Zip Codes in Bernalillo, NM