Home Insurance in Albuquerque, New Mexico
The median home value in Albuquerque is $291,500, close to the Bernalillo County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Albuquerque was built around 1982. About 19% of homes were built before 1960, in line with Bernalillo County (19%).
In Albuquerque, the housing stock is 68% single-family homes, 21% apartments in buildings with 5+ units and 4% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 64% of owner-occupied homes in Albuquerque have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 62% of occupied homes in Albuquerque are owner-occupied. The vacancy rate is 6%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Albuquerque, 76% of homes are primarily heated with natural gas.
What's the biggest home insurance risk near Albuquerque? FEMA's National Risk Index points to winter weather (Very High) in Bernalillo County and Bernalillo County had 1,214 active NFIP flood policies as of September 2026. See the full Bernalillo County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in New Mexico is $1,490 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $291,500 |
|---|---|
| Median year built | 1982 |
| Owner-occupied share | 62% |
| Share of owner-occupied homes with a mortgage | 64% |
| Top county hazard | Winter Weather (Very High) |
| Active NFIP policies in Bernalillo County | 1,214 |
| Home insurance premium | $1,490 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)