Is Albuquerque, NM affordable on a $950,000 salary?
YES
On $950,000/yr, the typical $349,919 home in Albuquerque, NM needs $107,463/yr ($2,507/mo). Your gap: +$842,537 — housing would be 3.2% of your gross income.
The math
349,919 price − 10% down (34,992) = 314,927 loan
30-yr fixed at 6.95% on 314,927 = 2,085/mo principal+interest
+ 423/mo est. taxes+insurance (1.45%/yr of value — national placeholder)
2,507/mo PITI ÷ 0.28 = 8,955/mo → 107,463/yr required
against Zillow ZHVI 2026-08 and the 6.95% FRED 30-yr rate (2026-09-17).
What salary WOULD clear Albuquerque, NM?
You need about $107,463/yr for the typical home. On $950,000 you already clear it by $842,537.