Research

A Citywide Economic Priority backed by research

City leaders from the Economic Development Department and the Metropolitan Redevelopment Agency participated in the Bloomberg Harvard City Fellowship in Spring 2025. Over a four-day workshop, this group analyzed data and learned about strategies to unlock growth. They found that Albuquerque’s housing challenges are constraining the city’s economic growth and deepening affordability issues.

Key Finding

Albuquerque Faces a Housing Constraint

The city’s economic and population growth is limited by a lack of housing that most people can afford.

Despite increasing home prices, the City’s housing supply has remained flat
The growth in income needed to be a homeowner in Albuquerque increased by 20%, on average, each year between 2019-2023
Our kids and new families are getting priced out of being able to afford a starter home.

Affordability & Rent Challenges

The rental vacancy rate in the City is declining

While the City’s population size has remained stable, there is a rise in single-person households, creating pressure onthe existing housing supply
- Average renter household size: 2.4 in 2013, 1.97 in 2023
Housing production is not keeping pace with demand, contributing to upward pressure on rents

Rent and Homelessness Are Linked

Low vacancy rates correlate strongly with high rents.

High rents correlate strongly with high rates of homelessness.
- Homelessness in Albuquerque has doubled over the last ten years; at the same time, rent prices have increased
Homelessness is a housing problem, not just a social services issue.

Zoning Limits Density

Compared to peer cities (like Milwaukee), Albuquerque’s zoning does not allow enough density citywide, limiting housing supply, types of housing, and growth potential.

View the presentation detailing their findings and recommendations.

2025 Livability Speaker Series

These findings are also echoed by Gregg Colburn, author of the books Homelessness is a Housing Problem: How Structural Factors Explain U.S. Patterns and Affordable

Colburn was a guest speaker of the Homewise 2025 Livability Speaker Series in Albuquerque on April 10th, 2025.

Colburn dispelled conventional beliefs about what drives homelessness, such as mental illness, addiction, poverty, weather, generosity of public assistance, and low-income mobility.

His research identified the root cause: housing market conditions. Colburn recommended policies that can help cities like Albuquerque address the housing (and homelessness!) crisis.

Watch the full video.

Housing Forward Fund Report

This Report highlights the critical investments made in affordable housing through the Housing Forward Fund.

The $23 million fund comprises $20 million from the gross receipts tax and $3 million in general funding.

Read the full 2025 Housing Forward Fund Report.