Albuquerque, NM Homes For Rent

Homes for Rent in Albuquerque, NM: What You Need to Know

Albuquerque, home to 560,513 people, is the most populous city in New Mexico. Twenty-eight percent of the city is devoted to parks and green spaces, the highest percentage of parkland in a metro area.

Things to Do in Albuquerque

Dubbed the “Hot Air Ballooning Capital of the World,” the city boasts of perfect conditions year-round for riding a hot air balloon. It hosts the Albuquerque International Balloon Fiesta, the world’s largest ballooning festival. For nine days every October, thousands of people from around the world watch more than 500 balloons lift off from Balloon Fiesta Park and sail through the sky. 

The Historic Old Town’s Spanish pueblo architecture is a must-see. It’s Albuquerque’s oldest neighborhood. You’ll find art galleries and more than 100 shops and restaurants. Visit the Albuquerque Museum of Art and History and the New Mexico Museum of Natural History and Science, both located in Old Town.

The Cost of Living in Albuquerque

Living in Albuquerque will give you more bang for your buck. The city’s cost of living, food, and housing costs are 3%, 3.6%, and 23.7% lower than the national average, respectively. The median gross rent in Albuquerque is $855. New Mexico’s progressive income tax rate ranges from 1.7% to 4.9%, among the lowest in the country. The state doesn’t have a sales tax. Instead, it charges businesses a gross receipts tax, which they pass on to consumers by adding it to the price or specifying it on the invoice.

Know Your Neighborhoods

Downtown residents love the convenience of being close to shops and restaurants, plus they can walk or ride their bikes most of the time. The majority of downtown residents are renters. Suburbanites should check out Rio Rancho and Paradise Hills for their proximity and easy access to Albuquerque. Both communities have above-average schools. 

The Local History

The Tiwa people lived in pueblos along the Rio Grande long before Spanish explorers arrived in the area in 1540. Don Francisco Cuervo y Valdés, New Mexico’s governor and captain general, founded the city in 1706. He named it after the duke of Alburquerque. The spelling changed over the centuries, dropping the first “r.” The city became a key trading center on the Chihuahua (Mexico) Trail.

Schools and Education

The state’s flagship university, University of New Mexico, is located in Albuquerque. It’s one of the state’s largest universities with 24,319 students. There are seven four-year colleges and universities within 50 miles of the city. There are 143 public schools in Albuquerque with a total enrolment of 84,000 students.