$1,486, that’s the average amount it costs for a two bedroom apartment in Albuquerque, according to KOB4. This average is up 22% from what it was this time last year and has proved to be the major reason why there’s many having problems finding a place to call home.
For the past 36 years years, the Apartment Store in Albuquerque has been helping people find affordable rental properties, finding much success in their quest to help people. Due to the pandemic, the past 2 years have been difficult for the business as prices have increased, demand has increased, but the housing inventory has greatly decreased. For a business that specializes in helping those that need apartments or rental properties, at the very least, this is the worst-case scenario for the Apartment Store.
Now, the Apartment Store has converted its operations from offering their ‘Apartment Locator’ service, to only specializing in helping private homeowners sell their homes. The housing problem isn’t any different throughout the country and has spread to more than just hosing. For basic essentials, many are finding it difficult to obtain what they need for everyday life, as there are high demands for those essentials with severely low inventory everywhere.
For right now, part of the solution is to build more affordable housing for people that can’t afford these newer “luxury” apartments. With more affordable housing, those in Albuquerque and all over the country will be able to have homes again, a flourishing market, and improve the quality of life for all people, no matter where they live.
For more information and commentary on this issue from the owner of the Apartment Store, click HERE.
And for relevant news about our state and how you can be part of the change, contact us at nmbiz@nmbizcoalition.org or the office at (505)836-4223.