Matrix Multifamily Albuquerque Report-April 2024 April 25, 2024

Short-Term Rents Fall in Albuquerque

Rents decreased 0.4 percent on a T3 basis through February to $1,317, partly due to significant stock expansion in 2023. Yet occupancy held on well, declining just 40 bps year-over-year to 94.9 percent.