ALBUQUERQUE, NM — New Mexico’s housing market has slowed, but remains expensive enough to stifle the plans of some people to improve their living situation. So says a KOB/Survey USA poll of 870 New Mexicans.
Among that group, 27% said their housing costs have risen “a lot” in the past year. Another 31% said housing expenses have risen somewhat, 35% said costs are about the same.
Just 4% said they’re paying less to keep a roof over their heads than one year ago.
Realtor’s associations in Las Cruces, Albuquerque and Santa Fe all reported prices for single family homes above what they were in September 2021 — 5.7%, 15.3% and 21.2%, respectively.
Among renters, two of every three people said housing is more expensive. That’s also true among all respondents in Bernalillo County.
One in three people surveyed said they’d put off moving over the past year because of cost. Those numbers are worse for younger people and non-whites.
Among renters, 55% of respondents said they’ve been stuck living where they are because of costs.
The non-White, non-homeowner disadvantage is evident in housing stability, as well. While seven of eight people feel at least somewhat stable, homeowners are twice as likely to feel very stable as renters.
The poll also asked if respondents felt they were living a better life than when they grew up:
- 45% said it’s somewhat or significantly better.
- 30% said their standard of living is about the same.
- 20% housing today feels worse than when they were growing up.