Tenants maxed out on rental spending combined with new apartment supply are expected to moderate increases The pandemic-fueled boom for multifamily building owners is fading fast going into 2023. Apartment vacancies are piling up. The biggest wave of new rental buildings in nearly four decades is expected to cut the pace of rent growth across…

Speeding Rhiannon Samuel, the executive director of NAIOP NM, recently spoke with Albuquerque Business First about some of the organization’s priorities for the 2023 legislative session in Santa Fe. Read more

There are currently 30 communities under construction in Albuquerque, representing 4,274 new apartments. Market apartments make up 57.5% of the total, while affordable apartments account for 42.5% of the new units. There are more apartments currently being constructed in Albuquerque than any other time in history. Read more

Housing the unhoused. No resources to treat the underlying causes. We’ve all heard a lot about it in the news over the last few years. Despite controversies and delays, the city is close to finishing the project to retrofit the old Lovelace Hospital into the Gateway Center. The Gateway Center will be a vital resource…

The national average rent-to-income reached 30% for the first time in the more than 20 years. The US is now rent-burdened nationally for the first time, according to new research from Moody’s, as wage growth increasingly trails rent growth. The national average rent-to-income (RTI) reached 30% for the first time in the more than 20…

Boston readies 6% rent hike cap as Massachusetts moves to lift preemption. At a time when apartment rents are starting to descend from the record highs—and the momentum for rent controls appears to be building—the Biden Administration said it is considering several executive actions that would expand protections for renters. Full article

Two New Mexico lawmakers woke up on the streets of Downtown Albuquerque Sunday, January 22. They say it’s an effort to learn more about the homeless crisis in our state. “It was really an opportunity to come out here and see what folks are dealing with,” said Senator Harold Pope Jr. Read more

You need over a quarter of a million dollars, on average, to buy a house in Albuquerque. It’s at least twice that much in Santa Fe. Want to rent an apartment? Even a one-bedroom will be more than $1,000 a month on average according to data from apartmentlist.com, in a state with an average household income of…

Yes, America is a wounded giant—but it always has been, and the case for optimism is surprisingly strong. Negativity is by now so deeply ingrained in American media culture that it’s become the default frame imposed on reality. In large part, this is because since the dawn of the internet age, the surest way to…

City seeking $50 million from state legislature to support housing efforts As the start of the 60-day legislative session approaches, the City of Albuquerque announced that it is requesting $50 million from the state for the Housing Forward initiative. The funds would help increase access to housing throughout Albuquerque and secure the city’s affordable future.…