If you look at trends across the country, it may seem that the dream of owning a home is not well. But that’s really not the care. Buying a home may be more difficult lately. Factors such as student loan debt, rising home prices and a fewer available properties have certainly made it more difficult. Because of this, on a national level home ownership rates have declined to around 64%.
The good news is that certain cities have bucked this trend. Realtor.com performed a study of the cities in America where homeownership rates are growing faster. The great news for people looking to buy a home is that Albuquerque ranked #7 on their list! They analyzed data from the last Census and compared homeownership rates between the first 3 quarters of 2014 to the first 3 quarters of 2017.
Even though Albuquerque was hit pretty hard during the recession, the area’s climate and amazing scenery, along with low home prices and location near Santa Fe make it a very desirable place to buy a home. This has especially become true for people looking for the perfect retirement location.
People moving here to retire are drawn to the low prices in the area. New homes hover in the $250,000 range, making it very affordable to live here.
If you’re looking for the ideal city to move to, why not look at what Albuquerque has to offer?