New Mexico’s economic outlook just keeps getting better and better. With the oil and gas industry booming at unprecedented levels, the state’s projected revenue for the 2024 fiscal year is close to $12 billion — including a whopping $3.6 billion in “new money” that has legislators drooling about the possibilities for long-term fixes to New…

District 7 Albuquerque City Councilor Tammy Fiebelkorn is sponsoring two new city ordinances that are targeting the city’s apartment industry. One ordinance is entitled the “Residential Tenant Protection Ordinance” and targets what  Fiebelkorn deems “deceptive” practices  and “unreasonable” fees.  The second is the “Residential Rental Permit  Ordinance” that mandates  a permitting system to operate residential rental properties. Fiebelkorn’s  two  new city ordinances are being…

There’s a housing crisis in Albuquerque, and it doesn’t just involve those living on the streets or in their cars. Out of sight but top of mind for untold thousands of New Mexicans are soaring rental costs. According to Rent.com, the average monthly rent for a one-bedroom apartment in the Duke City has gone up 42%…

For most of the pandemic, renters suffered just as much as home buyers, with rents jumping along with home prices. For most of the pandemic, renters had it just as bad as home buyers, with rents soaring in sync with home prices. But good news is starting to emerge for renters. Apartment rents slid 0.59%…

There are currently 29 communities under construction in Albuquerque, representing 4,122 new apartments. Market apartments make up 59.7% of the total, while affordable apartments account for 40.3% of the new units. There are more apartments being currently being constructed in Albuquerque than any other time in history. See full list here

Rent in Albuquerque did not increase much over two plus decades. In fact, rent increased 1.5% per year on average, from 2000 to 2018. During 2019 to 2021, rent grew 26% across the city. As such, from 2000 to 2021 the average annual rent growth was 2.5%, not adjusted for inflation. The average annual inflation…

The U.S. apartment market continued its slowdown last month, the third consecutive month of declining rents. By Ashley Fahey  –  Editor, The National Observer: Real Estate Edition The U.S. apartment market continued its slowdown last month, the third consecutive month of declining rents. Same-store effective asking rents for new leases nationally fell 0.59% in November,…

District 7 Albuquerque City Councilor Tammy Fiebelkorn is sponsoring two new city ordinances that are targeting the city’s apartment industry. One ordinance is entitled the “Residential Tenant Protection Ordinance” and targets what  Fiebelkorn deems “deceptive” practices  and “unreasonable” fees.  The second is the “Residential Rental Permit  Ordinance” that mandates  a permitting system to operate residential rental properties. Fiebelkorn’s  two new city ordinances are being…

FAU survey shows 70 markets with smaller average rental rates. The rental crisis is easing, according to a new survey, which shows that renters are benefiting from an increase in supply. “That’s exactly what had to happen,” Ken H. Johnson, Ph.D., an economist in FAU’s College of Business said in prepared remarks. Read more

Was running water something you were thankful for over the holiday? Unfortunately, folks living in a northeast heights apartment complex can’t say the same. They haven’t had any for five days now. A handful of tenants decided to moved out because their apartments flooded. But those who have stayed say property management not only left…