7 Things to Know BEFORE Moving to Albuquerque, NM

Are you considering moving to Albuquerque, NM, and want to learn more about the area? Here are seven vital things to know before moving to Albuquerque.

Moving to any new area can bring both stress and excitement. Before you move, make sure to do all the research on your new home in order to make the move as smooth as possible. Albuquerque, New Mexico, is one of the best places to live in the state and is a special place to its wonderful community. 

Located in the heart of the state, Albuquerque is the most populous city in New Mexico. Otherwise known as Duke City, it was founded in 1706 as La Villa de Albuquerque and has grown tremendously since. 

In addition to the growing job market is the University of New Mexico, the largest university in the state. From the centuries-old traditions to the ample opportunities for exploring. Here, you will have access to many fun-filled recreational options, museums, restaurants, a low cost of living, and prime real estate.

You truly can't go wrong with choosing to move to this impressive city. First, make sure to learn as much as you can to help you before moving to Albuquerque. 

Here are seven things to know before you move to Albuquerque

Cost of Living

Always factor in how the cost of living will affect your everyday life and budget before moving to a new area. The cost of living is an accumulation of typical expenses like housing and groceries, and it will vary greatly depending on your desired area. Before moving, it is essential to research how these expenses will differ.

The cost of living in Albuquerque is 7% lower than the national average, meaning you will spend a lot less than you would in another city in the country. Specifically compared to the national average, housing prices are 12% lower, utilities are 8% lower, groceries are 2% lower, and transportation is 7% lower. With all four of these major expense categories being lower than the national average, you can guarantee to have a great deal of extra cash to spend wherever you want.

New Mexico as a whole is known to be relatively affordable, especially the housing prices. The overall cost of living is 5% lower than the national average. Keep in mind that this percentage can vary greatly. You can lower it even more through your lifestyle and budgeting practices. 

Take a look at the major cost of living items and their average price. 

Data sourced from PayScale.

Real Estate

Housing costs can be the biggest expense in most cities. Luckily for you, in Albuquerque, housing costs are 7% lower than the national average, and utilities are 8% lower. Of course, this will vary depending on your area, neighborhood, home size, and the number of people residing in the home. 

The median home price is around $395,000, and homes stay on the market for around 42 days on average. The median home price has been trending up 2.9% since last year and looks to be rising going into 2024. 

With about 202 neighborhoods, there are plenty of beautiful homes for sale with a variety of amenities and prices. Albuquerque is a buyer's market as of now, meaning it's the perfect time to find your dream home.

Each area of Albuquerque has something different to offer; check out the best single-family homes for sale, new construction homes, and luxury homes available. There are many cheap states to buy a house, so make sure to explore all your options before buying your home. 

Food

Grocery and dining costs will make up a significant amount of your everyday expenses, and they can add up quickly. The average Albuquerque resident spends about $3,996 on food per year, and a family of four spends about $11,760 per year. 

The average may not mean that you are going to spend the exact same amount as the statistic. Your grocery and food costs will be completely up to your lifestyle, preferences, and budget. 

Grocery costs in Albuquerque are 2% lower than the national average. Although this might now seem like a huge amount of savings, it will take a large load of stress off your shoulders. For a better idea of the grocery costs, take a look at the average prices of these grocery items. 

Making food at home may be the cheaper option, but Albuquerque is partially known for its delicious restaurants that you have to visit. So check out these local favorite restaurants in Albuquerque, NM, for when you want a nice meal or fun night out:

• La Guelaquetza: This traditional Mexican restaurant serves delicious Mexican staples in a comfortable and casual setting. The fantastic chefs at this restaurant were named James Beard Award semifinalists for Best Chef: Southwest in 2022. 
• Monte Carlo Steakhouse: This casual steakhouse features mouthwatering food, a liquor store, and a speakeasy. It is the perfect place for a fun night out to enjoy grilled rib-eyes, green chile cheeseburgers, and Greek specialties.
• Sawmill Market: As the largest food hall in Albuquerque, this restaurant is one of the best places for delicious pasta, waffles, poke bowls, and more. 

Job Market

Albuquerque's employment rate has risen over the last five months and is projected to trend upward. The city also has a rising unemployment rate, currently at 4.1% in August 2023, according to the U.S. Bureau of Labor Statistics. The median household income is sitting at around $56,366. 

Albuquerque has many top companies, primarily in Aerospace, Film and Television, Agriculture, Global Trade, Outdoor Recreation, and Manufacturing. This diverse job market makes it one of the best places to move to if you are looking for a job in almost any field.

Albuquerque is the center of directed energy in the country, which brings in plenty of employment opportunities. In addition, the City of Albuquerque is the largest employer in Albuquerque. The city offers a variety of services to the community, like public safety, public works, and cultural and recreational programs. 

Overall, Albuquerque is still a growing city and has much to offer its residents. You can even work from home, which is known to improve your overall mental health. From affordable housing to a growing job market, there are many opportunities for people planning on moving to Albuquerque. 

Education

Albuquerque is filled with many great schools at all levels. About 90.9% of residents are high school graduates or higher, and about 37.4% have a bachelor's degree or higher. Albuquerque Public Schools has about 174 schools and over 83,000 students. 

New Mexico itself has the largest concentration of PhDs per capita in the country. Albuquerque has over 60,000 college students, many attending the University of New Mexico, which is located in Albuquerque. There are nine schools offering degrees near Albuquerque, and four are four-year private colleges or universities. 

When deciding where to buy a home, it is important to identify the school districts in the area. Albuquerque has many great elementary, middle, and high schools to pick from. Check out the top schools in the Albuquerque area below:

Weather

Along with the majority of New Mexico, Albuquerque is known for its sunshine. Combined with a mild, dry climate most of the year, the summers are usually very hot and dry in direct contrast to the winters, which are short, cold, and snowy.

No matter what type of weather you enjoy, you'll truly get the best of both worlds living in Albuquerque. Summers last about four months, the hottest month being July. If you're planning on visiting to enjoy the outdoors, then May or September are the perfect months. During this time, it won't be too hot or too cold, perfect for all the recreational activities in the area.

The winter months don't get quite as cold as they would further North, but temperatures usually range between mid-40s and low 20s. The bottom line is you will get to experience all four seasons here, perfect for any type of activity you want to enjoy.

Activities

Home to many fun restaurants, museums, art shows, and national parks, there is certainly no shortage of opportunities for enjoyment in Albuquerque. No matter how you like to spend your time, you'll be sure to find many exciting activities to indulge in with your friends, family, or just yourself. 

Albuquerque International Balloon Fiesta

Due to the dry climate, Albuquerque is ideal for hot air ballooning, and there's no better way to spend the day than visiting this festival. The Albuquerque International Balloon Fiesta is held during the first week of October every year. People travel from all over to see the 500 brightly colored balloons fly into the sky. 

Albuquerque Museum

The Albuquerque Museum offers a look into Albuquerque's rich cultural heritage. Located on the eastern side of Old Town, this museum showcases an impressive collection of historical artifacts from the city's history. This is one of the best ways to spend a couple of hours in Albuquerque for residents and visitors alike. 

Boca Negra Canyon Trails

Located on the outskirts of Albuquerque, Boca Negra Canyon Trails is one of the most popular in New Mexico. You won't have to worry about your hiking experience level as there are many self-guided trails that provide easy access to see the fascinating geologic and cultural features up close. 

Pros and Cons of Living in Albuquerque, NM

Pros

• Sunny days
• Affordable cost of living
• Laid back atmosphere
• Beautiful outdoors
• Delicious cuisine
• Affordable housing

Cons

• Extremely hot climate
• High unemployment rate
• High crime rates
• Infrastructure could use improvements

FAQ: Moving to Albuquerque, NM

Here are some commonly asked questions about moving to Albuquerque, NM.

Is it a good idea to move to Albuquerque, New Mexico?

Albuquerque offers many things like affordable housing, a friendly community, and plenty of fun outdoor activities to explore. It is known as one of the best places to live in New Mexico.

What's the vibe of Albuquerque?

Albuquerque is extremely unique in that it is considered a big city but still has abundant outdoors. You will get the best of both worlds in this big city with a small-town feel. 

Is Albuquerque retirement-friendly?

Many people choose to retire in Albuquerque because it offers many activities with a quiet lifestyle. The housing and overall cost of living are affordable, making it a great place to retire.

Why is property so cheap in New Mexico?

New Mexico has affordable housing and properties as a result of the low population density. 

Is it better to live in Santa Fe or Albuquerque?

Both cities are fantastic options, although Santa Fe is safer overall due to the lower crime statistics. Albuquerque does have more affordable housing and a lower cost of living as a smaller city. 

Moving to Albuquerque - Is Living Here For You?

If you're looking for sunshine almost 365 days a year, then Albuquerque is for you. With a rich history, many outdoor recreational activities, and a low cost of living, there's no reason not to move here. 

No matter your age, lifestyle, or career, you'll fit right in here. There are tons of fun museums, restaurants, galleries, shops, and more for you to indulge in. With a beautiful combination of small-town charm and city amenities, it has everything you could ask for.

New Mexico is full of many amazing cities and towns, from the snow-capped mountain peaks to the gorgeous desert; it is truly one of the most stunning states in the country. If you find that Albuquerque is not for you, check out some of the other amazing places to live in New Mexico, like Santa Fe, Las Cruces, Rio Rancho, and Rosewell. 

Don't hesitate to contact one of our highly qualified Realty Specialists to help you along the process. Our team at UpHomes is dedicated to helping you find the home of your dreams. Don't forget to check out the beautiful homes for sale in New Mexico.