{"id":1004151869,"date":"2016-09-07T00:36:39","date_gmt":"2016-09-07T08:36:39","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004151869"},"modified":"2025-02-26T23:38:22","modified_gmt":"2025-02-27T07:38:22","slug":"yardi-matrix-albuquerque-brightens-up","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-albuquerque-brightens-up\/","title":{"rendered":"Yardi Matrix: Albuquerque Brightens Up"},"content":{"rendered":"
\"Albuquerque<\/a>

Albuquerque rent evolution, click to enlarge<\/p><\/div>\n

Despite its prime position at the center of the New Mexico Technology Corridor, a\u00a0cluster of high-tech companies and government institutions along the Rio Grande,\u00a0Albuquerque\u2019s multifamily market continues to struggle with limited population\u00a0and employment growth, not to mention a crime rate ranking among the highest\u00a0in the country.<\/p>\n

Historically a ranching and mining state, New Mexico still gets a major economic\u00a0contribution from its natural resources, despite the decline in oil prices. Renewable\u00a0energy is an emerging force, as well. More than 110 solar power-related companies\u00a0employing nearly 2,000 people call New Mexico home. In 2015, the state ranked\u00a013th nationally in installed solar capacity. In Albuquerque, the University of New\u00a0Mexico recently broke ground on Innovate ABQ, a $35 million project envisioned\u00a0as a research and innovation hub.<\/p>\n

The metro\u2019s multifamily fundamentals are generally weak, in contrast to the gains\u00a0seen in most metros. Population growth is feeble, but development is almost\u00a0on par with the national growth rate. Transaction volume more than doubled\u00a0from 2014 to 2015, a sign of rising interest from investors. On the minus side, rent\u00a0growth was less than 1.5 percent year-over-year through July, disappointingly behind the\u00a0national rate of 5.7 percent. We expect continued tepid growth of 1.0 percent in 2016.<\/p>\n

Read the full Yardi Matrix report<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Multifamily Summer Report 2016: Population growth is feeble, but development is almost on par with the national growth rate.<\/p>\n","protected":false},"author":873,"featured_media":1004151241,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37769,1577,21782,21808,21742,37795,15],"tags":[],"class_list":["post-1004151869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-absorption","category-albuquerque","category-development","category-featured","category-latest","category-rc-occupancy","category-west"],"acf":[],"yoast_head":"\nYardi Matrix: Albuquerque Brightens Up - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-albuquerque-brightens-up\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yardi Matrix: Albuquerque Brightens Up\" \/>\n<meta property=\"og:description\" content=\"Multifamily Summer Report 2016: Population growth is feeble, but development is almost on par with the national growth rate.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-albuquerque-brightens-up\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-09-07T08:36:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-27T07:38:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/MatrixMetros_Albuquerque_083016_800x620.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-albuquerque-brightens-up\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-albuquerque-brightens-up\/\",\"name\":\"Yardi Matrix: Albuquerque Brightens Up - 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