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Housing market/New Mexico/ZIP 87109

ACS 2023 · FY2027 SAFMR

ZIP 87109 Albuquerque, New Mexico

Albuquerque, NM MSA · New Mexico. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.

Population
39,323
Households
19,258
Median HH income
$56,295
Renter share
48.4%
Median gross rent
$1,112
Vacancy
7.5%
Pop. change
-0.1%
2BR SAFMR
$1,510
SAFMR / rent
1.358×
2–49 unit stock
6,282
LIHTC proj / units
8 / 1,421
HUD assisted MF
3 / 209

ZIP brief

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HUD schedule, ACS stock, and the 90–110% band for ZIP 87109 · NM — sent to you.

ZIP 87109 · NM

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ACS rent vs 2BR SAFMR

ZIP 87109 — Albuquerque, NM HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,112
2BR SAFMR$1,510
90% floor$1,359
110% ceiling$1,661

ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.

Housing stock

ACS 2023 units-in-structure · ZCTA 87109

  • 1-unit detached8,87342.6%
  • 1-unit attached1,2285.9%
  • 2–4 units1,2185.9%
  • 5–49 units5,06424.3%
  • 50+ units2,81913.5%
  • Mobile1,6137.7%
TypeUnitsShare
1-unit detached8,87342.6%
1-unit attached1,2285.9%
2 units (duplex)800.4%
3–4 units1,1385.5%
5–9 units1,4366.9%
10–19 units1,9609.4%
20–49 units1,6688.0%
50+ units2,81913.5%
Mobile1,6137.7%

2–4 unit share 5.8% · 5–49 unit share 24.3% · combined 2–49 30.2%.

Units by bedrooms

Studio
776
1BR
3,981
2BR
6,289
3BR
6,138
4BR
3,387
5+
255

Rent burden

Rent ≥30% of income53.4%
Rent ≥50% of income24.6%
  • ACS median gross rent $1,112 (all bedrooms, occupied rentals).
  • Median contract rent $994.
  • Renters paying ≥30% of income 53.4%; ≥50% 24.6%.
  • FY2027 2BR SAFMR $1,510 (1.358× ACS median gross rent).

Population

39,323 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: -0.1%.

ACS 5-year estimates lag current construction. This is not a forecast.

Assisted inventory

  • LIHTC: 8 projects, 1,421 units.
  • HUD project-based assisted MF: 3 properties, 209 assisted units.
  • HCV household counts (Picture of Subsidized Households) are not on this page yet.

New apartment permits

About 888 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.

Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.

What the data shows

ZIP 87109 48.4% of occupied households are renters; vacancy is 7.5%; ACS median gross rent is $1,112; population changed -0.1% between the 2018 and 2023 ACS vintages; the housing stock includes 1,218 units in 2–4-unit structures and 5,064 units in 5–49-unit structures; 8 LIHTC projects totaling 1,421 units; FY2027 2BR SAFMR is $1,510 versus ACS median gross rent of $1,112. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.

New Mexico research

ZIP 87109 is a Census / HUD profile for Albuquerque, NM. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 87109 — Albuquerque, NM HUD Section 8 Payment Standards / SAFMR·New Mexico ZIP directory

Nearby ZIPs in this FMR area

ZIPPlaceRentersMed. rent2BR SAFMR
87001Albuquerque, NM MSA11.8%—$1,51087004Albuquerque, NM MSA18.7%$1,066$1,35087008Albuquerque, NM MSA5.1%$907$1,61087009Albuquerque, NM MSA——$1,32087016Albuquerque, NM MSA18.8%$823$1,32087022Albuquerque, NM MSA9.4%—$1,32087023Albuquerque, NM MSA17.7%—$1,32087024Albuquerque, NM MSA25.0%$993$1,32087025Albuquerque, NM MSA3.8%$746$1,50087027Albuquerque, NM MSA39.8%—$1,49087031Albuquerque, NM MSA19.0%$1,083$1,38087032Albuquerque, NM MSA0.0%—$1,320

Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is New Mexico research. Brokerage is Georgia.

FAQ

What is the housing market like in ZIP 87109?

ZIP 87109 (Albuquerque, NM MSA) has 39,323 residents, 19,258 households, a renter share of 48.4%, median household income of $56,295, and ACS 2023 median gross rent of $1,112. Vacancy is 7.5%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 87109?

ACS counts 80 units in 2-unit buildings, 1,138 in 3–4 unit buildings, 1,436 in 5–9, 1,960 in 10–19, and 1,668 in 20–49. Combined 2–49 unit stock is 6,282 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 87109?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,510. See the full schedule and 90–110% payment-standard band on the ZIP 87109 — Albuquerque, NM HUD Section 8 Payment Standards / SAFMR.

Does this New Mexico ZIP profile include Georgia listings?

No. ZIP 87109 is Census / HUD research for Albuquerque, NM MSA. Jeff Crowe CRE does not list New Mexico property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.