New Mexico: In the Spotlight
New Mexico, often known as the Land of Enchantment, is home to around 2 million people. The state of New Mexico is the 36th most populous state, and is also home to cities like Albuquerque, which is the most populated city in the state with more than 559,000 residents. Las Cruces is another key location in the state, with more than 102,000 people calling the region home.
- The federal government directly employs 1 out of 4 workers in New Mexico.
- The federal government is the largest employer in New Mexico, with over 27,000 employees.
- Tourism, Oil, and Ranching are the largest industries in the state.
- The average household income is $49,754.
- The average age in New Mexico is 38 years old.
- New Mexico has over 644,000 employees across the state.
- The home ownership rate is roughly 67%, which leaves around 33% of the residents looking for apartments and rental properties.
New Mexico Apartment Loan and Multifamily Property Facts
New Mexico is seeing significant growth in many cities and regions when it comes to new residents seeking multifamily living. Condos and apartment buildings are growing in popularity once again, and with the development going on in some cities, opportunities will be plentiful for the foreseeable future. The 2020 market, like many, was a little slow, but it still made some big impacts.
- New Mexico is home to several cities that are prime markets for investors to acquire a rental property investment in for 2021.
- Rents in New Mexico are 0.24% higher than the previous year.
- The average rent in New Mexico is $844.
The market for commercial real estate in New Mexico is huge and growing by the day, thanks to an ever-expanding job market and a growing base of young families who prefer to rent rather than buy a home. Those who get in now will have a better chance of finding the best deals and not overpaying or missing out on the biggest profit potential. The state is expected to see above-average population growth through 2024, contributing to an ever-increasing demand for apartments, condos, and other rental units.
New Mexico Apartment Loan and Lending Options
In the state of New Mexico, there are several different ways that you can finance your new apartment investment, whether you’re looking for a massive multi-unit tower in Santa Fe or a simple eight-unit property in an up-and-coming neighborhood of Rio Rancho. We work with opportunities like:
- Conventional apartment loans
- Fannie Mae apartment financing
- Freddie Mac apartment financing
- FHA/HUD financing
- Mezzanine financing
- CMBS loans
- Bridge loans
- Apartment construction loans
- And more!
Finance Your New Mexico Apartment Building Now
Apartment.loans specializes in commercial financing for all kinds of real estate and apartments in New Mexico and throughout the United States. We have solutions for commercial real estate, traditional apartment financing, value-add opportunities, and more. We can even help you with ground-up developments or just get you financed for a stabilized property so you can be on your way.
Our team of experts knows what it takes to get the loan funds that you need. Whether you’ve got a special investment in mind, or you have basic funding needs, let us know how we can help. We'll give you all of the tools and resources you need to take your New Mexico apartment loans to the next level. To learn more and start your investment journey, contact our New Mexico Apartment Lending Specialists at [email protected] or (800) 567-9631.
Apartment loans from $750,000 and up.