Matrix Multifamily Albuquerque Report-April 2023 April 27, 2023

Albuquerque’s Growth Cools

Albuquerque was slow to see negative rent growth, but after outperforming the nation for 10 months it finally slid 0.1 percent on a T3 basis through February, to $1,283. Occupancy also dropped slightly, losing 100 basis points in the 12 months ending in January, though it remained above 95 percent.