Location: Albuquerque, NM | Metro: Albuquerque, NM MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $2,110 |
| 4 Bedrooms | $2,480 |
| 5 Bedrooms | $2,877 |
| 6 Bedrooms | $3,222 |
| 7 Bedrooms | $3,480 |
| 8 Bedrooms | $3,654 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,520 | $456,777 | 0.33% | F |
| 3BR | $2,110 | $668,484 | 0.32% | F |
| 4BR | $2,480 | $860,599 | 0.29% | F |
| 5BR | $2,877 | $1,084,006 | 0.27% | F |
U.S. Census Bureau data (2024)
The real estate landscape in Corrales, NM (ZIP 87048), is poised for continued stability and potentially robust growth over the next 12 to 24 months, based on several key indicators. The median home value currently stands at $707,696, reflecting a high-end market that has shown resilience. This figure, combined with the fact that only 0.3% of listings have seen price reductions, suggests strong seller's market conditions where homes maintain their value well.
The median days on market (DOM) being listed as N/A indicates a rapid turnover of properties, further reinforcing the idea that homes in Corrales are selling quickly once they hit the market. This swift sale rate, coupled with the low percentage of price reductions, signals significant pricing power for sellers. Landlords and small-portfolio investors can leverage this to maintain or slightly increase asking prices without fear of prolonged listings.
On the rental side, the Fair Market Rent (FMR) for ZIP 87048 is set at $1,480 for fiscal year 2024, while the current market rent, according to the Census ACS, is $1,143. This gap suggests an opportunity for landlords to gradually raise rents towards the FMR level, aligning with expected market adjustments and tenant expectations. As the rental market tightens, investors can expect steady increases in rental income, enhancing the overall profitability of their investments.
For long-term investors, the setup in Corrales implies a realistic appreciation thesis. The stable median home values, quick sales, and upward pressure on rents all contribute to a scenario where property values are likely to appreciate, albeit at a moderate pace. Investors should focus on maintaining quality properties that meet the needs of both buyers and renters, ensuring that their assets remain competitive in this high-value market.
In summary, the current data points to a market where sellers hold considerable pricing power, and landlords can anticipate gradual rent increases. Long-term investors will find the environment conducive to capital appreciation, making Corrales a worthwhile consideration for those looking to build a sustainable real estate portfolio.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.