NEW MEXICO (KRQE) – A new study from WalletHub ranked the most affordable cities for homebuyers in 2023. The study compared 300 cities and Albuquerque comes in close to the middle at #162 on the list. When adjusted for city size, Albuquerque ranked at #40 out of 68 ‘big cities’ on the list. Albuquerque was the only New Mexico city to make the list.
Source: WalletHub
To make the list, WalletHub compared 300 cities across ten metrics:
- Housing affordability
- Maintenance affordability
- Average cost of homeowner’s insurance
- Cost of living
- Cost per square foot
- Real Estate tax rate
- Rent to price ratio
- Median home price appreciation
- Quarterly active listings per capita
- Vacancy rate
WalletHub then evaluated those metrics and graded them on a 100-point scale to make the list of most affordable cities for home buyers. To view the full list and see more information on how the study was conducted, visit WalletHub’s website.
