{"id":8786,"date":"2024-10-07T07:18:00","date_gmt":"2024-10-07T07:18:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8786"},"modified":"2025-05-22T07:19:15","modified_gmt":"2025-05-22T07:19:15","slug":"albuquerque-multifamily-market-report-september-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/albuquerque-multifamily-market-report-september-2024\/","title":{"rendered":"Albuquerque\u00a0Multifamily Market Report \u2013 September 2024"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/albuquerque-multifamily-market-report\/\">Albuquerque\u00a0Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Demand Powers Rent Growth<\/h2>\n<p>Albuquerque\u2019s performance was slow and steady in 2024 through July, with sustained rent growth, solid occupancy and a robust pipeline, but low investment activity, according to the latest Yardi Matrix Albuquerque multifamily market report. Average advertised asking rents rose 0.5% on a trailing three-month basis through July, to $1,349, while occupancy slid 50 basis points year-over-year to 94.9% in June, just above the 94.6% U.S. rate, as reported in the <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>national multifamily market outlook<\/strong><\/a>.<\/p>\n<p><iframe id=\"datawrapper-chart-AmfIT\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Albuquerque vs. National Rent Growth\" src=\"https:\/\/datawrapper.dwcdn.net\/AmfIT\/2\/\" height=\"328\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>Employment growth saw a 1.9% increase, or 8,400 jobs, in the 12 months ending in May, 60 basis points higher than the national average. Unemployment rose to 4.5% in June, trailing the U.S. (4.1%) and the state (3.9%), according to preliminary data from the Bureau of Labor Statistics. Professional and business services and government led job gains, up by 2,300 positions each. Meanwhile, information lost 1,100 jobs. There are several projects under development in the metro, which will further strengthen local economic growth and sustain multifamily demand. Two significant projects announced by Maxon Solar Technologies and Ebon Solar could position the state as a key player in the growing solar cell manufacturing industry.<\/p>\n<p><iframe id=\"datawrapper-chart-JLNIp\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Albuquerque Employment Share by Sector\" src=\"https:\/\/datawrapper.dwcdn.net\/JLNIp\/1\/\" height=\"423\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>Developers delivered 683 units in 2024 through July and had another 4,984 units under construction. Year-to-date, new construction volume fell just slightly below the level recorded during the same period last year. Meanwhile, investment activity totaled $82 million, with all sales recorded in the first quarter.<\/p>\n<p>Read the full Yardi Matrix Albuquerque Multifamily Market Report: <a href=\"\/publications\/download\/file\/6215-MatrixMultifamilyAlbuquerqueReport-September2024\" rel=\"\"><strong>September 2024<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Demand Powers Rent Growth Albuquerque\u2019s performance was slow and steady in 2024 through July, with sustained rent growth, solid occupancy and a robust pipeline, but low investment activity, according to the latest Yardi Matrix Albuquerque multifamily market report. Average advertised asking rents rose 0.5% on a trailing three-month basis through July, to $1,349, while occupancy [&hellip;]<\/p>\n","protected":false},"author":237,"featured_media":7859,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[59,511],"class_list":["post-8786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-albuquerque","tag-multifamily-outlook-2024"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Albuquerque\u00a0Multifamily Market Report \u2013 September 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Albuquerque\u2019s advertised asking rents rose 0.5 percent on a YoY basis through July, 20 bps ahead of the U.S. growth rate.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/albuquerque-multifamily-market-report-september-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Albuquerque\u00a0Multifamily Market Report \u2013 September 2024\" \/>\n<meta property=\"og:description\" content=\"Albuquerque\u2019s advertised asking rents rose 0.5 percent on a YoY basis through July, 20 bps ahead of the U.S. growth rate.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/albuquerque-multifamily-market-report-september-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-07T07:18:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-22T07:19:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/05\/Albuquerque-iStock-2165005286.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anca Gagiuc\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Albuquerque\u00a0Multifamily Market Report \u2013 September 2024 - 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She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. 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