Is Albuquerque, NM affordable on a $950,000 salary?
YES
On $950,000/yr, the typical $354,146 home in Albuquerque, NM needs $106,393/yr ($2,483/mo). Your gap: +$843,607 — housing would be 3.1% of your gross income.
The math
354,146 price − 10% down (35,415) = 318,731 loan
30-yr fixed at 6.69% on 318,731 = 2,055/mo principal+interest
+ 428/mo est. taxes+insurance (1.45%/yr of value — national placeholder)
2,483/mo PITI ÷ 0.28 = 8,866/mo → 106,393/yr required
against Zillow ZHVI 2026-06 and the 6.69% FRED 30-yr rate (2026-08-06).
What salary WOULD clear Albuquerque, NM?
You need about $106,393/yr for the typical home. On $950,000 you already clear it by $843,607.