Rio Rancho Profile

Quality of Life

Housing

The City of Rio Rancho has attracted award-winning local, regional, and national homebuilders, which has resulted in a wide range of housing options. The City has maintained its reputation and marketability of affordable housing while building a name for itself in high-end real estate.

In November of 2005, the Albuquerque Metropolitan Board of Realtors (AMBOR) divided Rio Rancho into eight categories for residential sales reporting purposes. The AMBOR had previously maintained three reporting categories for Rio Rancho. The following table presents the summary statistics for Rio Rancho residential sales in 2005 by each district.

           For an enlarged map of Rio Rancho's eight residential districts, CLICK HERE.

            For an enlarged district map listing 2006 Residential Home Sales, CLICK HERE.

2006 Single Family Residential

Sales by District 

District

Description

Sales

Average Price

140

Rio Rancho South

206

$249,080

141

Rio Rancho Southwest

11

$150,104

150

Rio Rancho Mid

696

$185,691

151

Rio Rancho Mid- North

204

$273,153

152

Rio Rancho Mid-West

58

$132,673

160

Rio Rancho - North

409

$228,000

161

Rio Rancho Central

389

$165,667

162

Rio Rancho Northwest

7

$258,199

 

2005 Single Family Residential

Sales by District 

District

Description

Sales

Average Price

140

Rio Rancho South

162

$188,733

141

Rio Rancho Southwest

15

$154,653

150

Rio Rancho Mid

794

$160,750

151

Rio Rancho Mid- North

180

$232,898

152

Rio Rancho Mid-West

47

$138,696

160

Rio Rancho - North

491

$188,741

161

Rio Rancho Central

216

$123,502

162

Rio Rancho Northwest

2

$135,450

 

The overall average housing price in Rio Rancho for Class R1 (Existing Single family Detached) and R2 (Existing Condo/Town home Attached) in 2006 was $200,810. The median price was $175,000, total units sold and closed was 2,080, total dollar volume was $417,685,643, and 4,009 new listings were recorded. The following table provides more in-depth data for 2006’s R1 and R2 residential sales.

 

2006 Single Family Residential Sales by Class

2006

Class R1

Class R2

Class R1 & R2

Average Price

$204,680
$123,388
$200,810

Median Price

$177,000
$105,000
$175,000

Total Sold & Closed

1,981
99
2,080

Total Dollar Volume

$405,470,214
$12,215,429
$417,685,643

New Listings

3,866
143
4,009

 

2005 Single Family Residential Sales by Class

2005

Class R1

Class R2

Class R1 & R2

Average Price

$172,307

$106,815

$168,735

Median Price

$149,500

$87,700

$147,000

Total Sold & Closed

1,907

110

2,017

Total Dollar Volume

$328,589,463

$11,749,630

$340,339,093

New Listings

2,573

142

2,715

 

The table below shows the 2001-2004 average Rio Rancho residential sale price by zone. (Remember, prior to November 2005, Rio Rancho only had three reporting districts for sales reporting purposes.)

2001 – 2004 Single  Family Residential
Average Sales Price

 Categories

(Pre-November 2005)

2004
2003
2002
2001

Total Sales

Average Sale Price

Total Sales

Average Sale Price

Total Sales

Average Sale Price

Total Sales

Average Sale Price

Rio Rancho South

105

$145,305

82

$135,545

90

$131,791

69

$122,059

Rio Rancho Mid/Corrales Heights

702

$133,050

579

$127,849

583

$122,283

523

$112,625

Rio Rancho North

726

$148,995

489

$140,101

413

$131,320

384

$122,383

                                                                                              Source: Southwest Multiple Listing Service

Resale activity within the community is active with many options from which to choose. The table below shows the current inventory of Rio Rancho single-family homes on the market by region and price range. For many years, Rio Rancho was known for its affordable housing. That trend continues and the City now boasts custom homes rivaling those of anywhere in the MSA.

Current Single Family Residential
Resale Market by District

Price*
140 141 150 151 152 160 161 162
< $150
0 1 27 1 8 1 20 0
$150  - $200
13 1 94 22 6 37 76 0
$201  - $250
30 5 43 30 1 40 49 0
$251 - $500
85 0 117 108 3 119 4 1
> $500
12 0 19 42 0 25 2 0
Totals
140 7 300 203 18 222 151 1

                                                                                                *Price in $1,000. June 20 , 2007 Data, SWMLS

To conduct a search of the residential listings in the City of Rio Rancho, please see the Southwest Multiple Listing Service website at www.abqrealtors.com. Additional information on housing statistics can be located at the Albuquerque Metropolitan Board of Realtors website.

 

To view recent and historical "Housing Permits" in Rio Rancho, CLICK HERE.

 

(Last updated 6/20/07)