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Sandoval County, NM

RANK #556 / 996  ·  POP 149,460  ·  NM

PROJECTED GROWTH: +0.5%

Sandoval County shows below-average economic momentum. Growth signals are flat or softening.

[01] Why Sandoval County?

Sandoval County, New Mexico, distinguishes itself with a blend of rich cultural heritage and diverse natural landscapes. The village of Corrales, for instance, offers an eclectic mix of art, culture, nature, and history, with architecture reflecting its Spanish Colonial roots. Located in north-central New Mexico, the county sits where the Rocky Mountains meet the desert, providing abundant sunshine and varied wilderness. It is part of the Albuquerque metropolitan area, with Rio Rancho being its largest city and economic hub, bordering Albuquerque and about 30 minutes from the Albuquerque International Sunport. Commutes within the Albuquerque MSA average around 30 minutes. The county boasts extensive outdoor recreation, including over 500 hiking and biking trails, fishing, camping, and skiing in areas like the Jemez Mountains and Valles Caldera National Preserve.

Life in Sandoval County offers a balance of affordability and amenities, attracting families and professionals. The county is known for its low crime rates, with Corrales and Rio Rancho consistently ranking among the safest cities in New Mexico. Rio Rancho Public Schools are recognized for their quality, with high schools like Rio Rancho High School and V. Sue Cleveland High School receiving national rankings. The economy is experiencing growth in sectors such as manufacturing and energy, drawing significant investment. Additionally, the county's proximity to national laboratories like Sandia and Los Alamos provides opportunities for technology transfer and business support.

[02] Market Snapshot

Housing Ratio
8.0x

Overvalued relative to economy

GDP Growth
+10.3%

Well above national median

Home Prices
+0.3%

Well below national median

Climate & Terrain
3.7

Favorable climate & terrain

Price/Rent
11x

Strong rental yield

Housing looks overvalued at 8.0x — home prices are high relative to local economic output. Climate and geography support a structural premium. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Sandoval County U.S. National

The Numbers

DEMOGRAPHICS
Population
149,460
+1.45% YoY
Median Household Income
$76,424
Median Home Value
$258,100
+0.34% 12mo
Median Rent
$1,280
Average Annual Pay
$60,474
+8.2% YoY
Employment
35,653
+6.2% YoY
Income-to-Home-Value
0.2961
More affordable than average
Migration Inflow
3.45%
of pop. from another state

Market Activity

REAL ESTATE
Building Permits (2024)
1,278
Single-Family Permits
1,040

[05] Capital Investment

$913M
TOTAL
PROJECT AMOUNT STATUS
Diamond Tail Solar and Storage Project
PCR Investments
$450M Planned
TAG Solar + Storage Project
Exus Renewables North America
$312M Under Construction
Castelion Corporation Rocket Motor Production Facility (Phase One)
Castelion Corporation
$101M Proposed
Sandoval Flats
Dominium
$50M Under Construction

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +10.3% 98 percentile
Population Growth +1.4% 82 percentile
Income Growth +10.8% 89 percentile
Vacancy Rate 1.2% 44 percentile
Home Price Change +0.3% 35 percentile
Rent Growth +4.2% 70 percentile
Price/Rent 11x 77 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Sandoval County, NM a good place to move to?

Sandoval County has a Boom Town Index score of 44/100, ranking #556 among 996 U.S. counties. With job growth at +6.2% and a median household income of $76,424, it faces some economic headwinds compared to faster-growing counties.

Is Sandoval County affordable?

The median home value in Sandoval County is $258,100 with median rent at $1,280/month. The income-to-home-value ratio is 0.2961, which is more affordable than the national average.

Is Sandoval County growing or shrinking?

Population growth: +1.4% year-over-year. Job growth: +6.2%. Home values changed +0.3% in the past 12 months.

Are people moving to Sandoval County?

Yes — 3.45% of Sandoval County's population moved from another state, which is above the national average and indicates strong in-migration.

[08] Similar Metros

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