In short
The median value of owner-occupied homes is $279,900 in New Mexico and $324,600 in the city of Albuquerque, against $360,600 nationwide (Census ACS 2024). On the FHFA index, New Mexico prices down 1.2% and Albuquerque-area prices down 1.7% from Q2 2025 to Q2 2026.
What it costs: median value in 2024
| Area | Median value, 2024 | Margin of error (90%) |
|---|---|---|
| United States | $360,600 | ±$618 |
| New Mexico | $279,900 | ±$4,338 |
| Albuquerque metro area | $322,700 | ±$5,637 |
| Bernalillo County | $324,500 | ±$5,842 |
| City of Albuquerque | $324,600 | ±$6,495 |
Source: Census ACS 2024, table B25077; owners’ own estimates, not sale prices.
Three points stand out:
- The New Mexico median is $80,700 below the national median.
- The city of Albuquerque sits $44,700 above the New Mexico median.
- The city, the county and the metro area are within about $2,000 of each other, which is smaller than the margin of error. The true city median is very likely between about $318,100 and $331,100.
How prices have moved: the FHFA index
In that release FHFA reports that house prices were down in four states and that “New Mexico experienced the most significant price decline at 1.2 percent.”
| Area | 1-year change (Q2 2025 to Q2 2026) | 5-year change (Q2 2021 to Q2 2026) |
|---|---|---|
| United States | +2.1% | +33.4% |
| New Mexico | −1.2% | +33.9% |
| Albuquerque metro area | −1.7% | +33.3% |
Source: FHFA HPI, purchase-only, Q2 2026 (release of August 25, 2026); changes by Payotte.
New Mexico prices fell over the past year while the national index rose 2.1%. Over five years, New Mexico and the Albuquerque area gained about a third in value, roughly in line with the nation’s 33.4%.
A worked example
Take an Albuquerque-area home worth $300,000 in the second quarter of 2021. Tracking the Albuquerque index exactly, it would have been worth about $399,800 in the second quarter of 2026 (+33.3%). Over the last year alone, it would have lost about $7,000 (−1.7%). A single home can differ widely from the index.
How to use these figures when buying
Related: New Mexico closing costs guide, buying a home in Albuquerque and New Mexico first-time buyer programs.
Method and dataset
ACS median value. ACS 1-Year 2024, table B25077. Geographies: United States (0100000US), New Mexico (0400000US35), Albuquerque, NM Metro Area (310M700US10740), Bernalillo County (0500000US35001), Albuquerque city (1600000US3502000). Read through the data.census.gov API on October 13, 2026. The definition of value comes from the ACS 2024 Subject Definitions.
FHFA index. FHFA HPI (purchase-only, seasonally adjusted), state series (New Mexico), metro series (Albuquerque, NM, CBSA 10740) and U.S. series. Index values used: New Mexico 413.74 (Q2 2025), 305.04 (Q2 2021) and 408.57 (Q2 2026); Albuquerque 411.47, 303.42 and 404.34; United States 426.58, 326.58 and 435.69. The U.S. one-year result (+2.1%) and the New Mexico result (−1.2%) match the figures in FHFA’s release.
Frequently asked questions
What is the median home value in New Mexico?
New Mexico’s 2024 ACS median home value is $279,900 (±$4,338), against $360,600 for the nation: owners’ own estimates, not sale prices.
What is the median home value in Albuquerque?
For the city of Albuquerque, the 2024 ACS median value is $324,600 (±$6,495). Bernalillo County is at $324,500 and the Albuquerque metro area at $322,700.
Are New Mexico home prices going up or down?
FHFA’s purchase-only index shows New Mexico prices fell 1.2% over the year to Q2 2026, and the Albuquerque area fell 1.7%. Over five years, they rose 33.9% and 33.3%.
How New Mexico compares with the other States
New Mexico ranks 34th of 50 for median home value ($279,900), 22% below the national $360,600.
The States closest in median value are Illinois ($280,700) and Pennsylvania ($277,600). The range runs from $170,800 in West Virginia to $875,900 in Hawaii; New Mexico is $59,600 below the middle of that ranking (Wyoming).
On the FHFA index, New Mexico prices fell 1.2% over the year to the second quarter of 2026, which places the State 50th of 50, 3.3 points behind the national +2.1%. Over five years the gain is +33.9% (34th of 50; nation +33.4%).
New Mexico combines a median among the lowest in the country with a slower-than-most price trend over the past year.
Over five years, New Mexico's +33.9% annualises to +6% a year (nation +5.9%). The latest year (-1.2%) is 7.2 points under that average, a slower pace than the five-year average.
Albuquerque, the main city, has a median of $324,600, 30th of the 49 main cities Payotte covers. That is 16% above the New Mexico median, a premium that ranks 20th of 49.
The one-year FHFA change runs from -1.2% in New Mexico to +8.3% in Alaska. New Mexico (-1.2%) is at the bottom of that range; Washington (-0.9%) and Colorado (-0.5%) are the nearest to it.
For scale, 20% of the New Mexico median is $55,980, against $72,120 at the national median.
Compare with the other states: Median home price by state.
More New Mexico guides
- Closing costs in New Mexico: what buyers and sellers pay
- Transfer tax in New Mexico: is there one when you buy or sell?
- Property tax in New Mexico: rates, cap and exemptions
- What must a home seller disclose in New Mexico?
- Do you need a real estate attorney to close in New Mexico?
- How does foreclosure work in New Mexico?
- First-time home buyer programs in New Mexico
- How to verify a real estate license in New Mexico
- New Mexico community property: what it means for a home
- Title insurance in New Mexico: how rates are set
Sources
- Census Bureau, ACS 1-Year 2024, table B25077 (consulted October 13, 2026)
- Census Bureau, 2025 ACS release schedule (consulted October 13, 2026)
- American Community Survey 2024 Subject Definitions (U.S. Census Bureau) (consulted October 13, 2026)
- FHFA news release, August 25, 2026 (consulted October 13, 2026)
- FHFA HPI datasets (quarterly, purchase-only) (consulted October 13, 2026)