Once a part of Albuquerque, with 72,000+ residents, Rio Rancho is one of America's fastest growing cities. Rio Rancho has job opportunities, anchored by Intel, shopping, and affordable housing (new homes can be found in the $100,000 range). For the golf enthusiast there's High Resort, a community surrounding a golf course. Rio Rancho has three fire stations, a library, city water and sewer service, seven elementary schools, four middle schools, two high schools, twenty nine parks, and two pools.

Patrick F. Montrose - REALTOR®, BA, MA, MAT
Associate Broker
Certified Relocation Specialist
Coldwell Banker Legacy Realtors
6767 Academy Road NE
Albuquerque, New Mexico 87109
Pat@PatMontrose.com
(505) 828-1000 Main Office Number
(505) 857-2344 Office Direct Line
(505) 239-4253 Mobile
(505) 821-0399 Fax

Rio Rancho Estates Units

Rio Rancho Estates: In the early 1960s the AMREP Corporation purchased 55,000 acres of land on the outskirts of Albuquerque, originally called Rio Rancho Estates. This was the beginning of Rio Rancho . AMREP marketed the area to residents in the Midwest and eastern states. Home building began in 1962, many of the first residents were middle-income retirees. In 1966, the 100th family moved to Rio Rancho and and Rio Rancho Real Estate started to take off, by 1977 the population had grown to 5,000. In 1971 AMREP purchased and platted an additional 35,000 acres. Rio Rancho Estates was now 92,000 acres and larger, geographically, than the city of Albuquerque. By the early 1980s Rio Rancho was incorporated, it's population had reached 10,000. A new financing program, offering low interest home loans changed Rio Rancho from a retirement community to a community attracting young families. Today Rio Rancho offers a cultural diversity within its population of 53,000. Other builders have now moved into the area, giving the home purchaser a wide variety of home styles to choose from in Rio Rancho Real Estate.

Rio Rancho, one of the fastest growing communities in the nation, has the "quality of life" features to entice both industry and individuals looking to relocate. The magnificent view of the Sandia Mountains, the warm summer days and cool summer evenings, and the mild winter temperatures are just a few of the inviting features. Add low land costs, affordable housing, quality education, and a community with positive attitudes and you will understand why Rio Rancho is a community you will want to live in. It will continue to boom well into the 2000's.

Rio Rancho has become a center for industrial and commercial activity. Intel, with 465,000 square feet of clean room, is the world's largest wafer fabricator plant. Several large call centers, including Victoria's Secret, Sprint PCS, Bank of America, JC Penny and America Online are located in Rio Rancho.

During the 1960's and 1970's AMREP heavily marketed lots in Rio Rancho Estates, to people along the East Coast, as a place to build a retirement home in the future. If you are are one of the people that bought a lot, or someone who has inherited one, contact me for information about your property if you've decided to sell it. AMREP platted and sold this land as Rio Rancho Estates in half acre and one acre lots to thousands of absentee property owners through mail order sales in the 60's and 70's. AMREP sold 77,000 lots to 40,000 buyers for $200 million at $795 for one half acre and $1,495 for one acre, while retaining over 25% of the acreage for future development. We can help you determine if development has reached the Unit your lot is in, how to find it, and if you decide to market your lot we can help determine its fair market value. While I would like to be able to provide this service to everyone, time constraints force me to restrict this service to people who agree to use my services to market their property. I receive an average of thirty e-mails a day with inquiries about Rio Rancho lots, and it takes a large amount of my time to research the information needed to arrive at a fair market value for the land. To send an e-mail, click here: RRE@PatMontrose.com .

To see some of the lots we currently have listed in Rio Rancho Estates, click here. .

If possible, please include the Unit, Block, and Lot numbers of your land. If you have a tax receipt the 13 number UPC Code (usually starts with 100) would also help in locating the property. Keep in mind, the vast majority of land within Rio Rancho Estates is undeveloped, roads, utilities, etc. are not available. If the land you own is in a developed area, it will have a much greater value than land that does not have any improvements at all. Land has not been developed in numerical order by Unit number, so don't assume that because your lot is in Unit 1 that it is an improved area.

Do you own a lot in Rio Rancho Estates? Click here for information.

Statistics for Rio Rancho Estate Lots as of June 15, 2010: Number of lots on the market For Sale = 2,876 Lots

The following statistics are for ALL lots in Rio Rancho Estates, both those in undeveloped and developed areas; the lots in developed areas have a Fair Market Value that is much greater than lots that are in undeveloped areas and they greatly effect the higher prices shown. An undeveloped lot can be have a Fair Market Value that is only 10% of a developed lot.

Total List Price: $176,933,305 High: $2,975,000 Low: $5,000 Median: $35,700 Average: $61,521
Total days on market: 380,542 High: 1,217 Days Low: 1 Day Median: 87 Days Average= 132 days
Most lots in undeveloped Units are selling in the $5,000 to $15,000 range; the closer a lot is to development, the higher its Fair Market Value.

Rio Rancho Statistics "At A Glance"

Population	68,981
Average Home Price	$169,641
Financial Institutions	Banks-9
	Credit Unions-1
	Savings and Loan- 2
Churches	47
Civic Clubs	85
Country Clubs	1
Restaurants	35
Hotels and Motels	7
Elementary Schools	7
Middle Schools	4
High Schools	2
Libraries	1
City Parks	29
Recreational Centers	4
Sports Complexes	1
Golf Courses	1
Senior Centers	1

Rio Rancho Real Estates: Average home price: South- $188,781 Southwest- $154,653 Mid- $160,743 Midwest- $138,696 Midnorth- $232,372 and North- $188,824 North Central- $ 123,424 .
Single-family new house construction building permits:
1996: 961 buildings, average cost: $56,600
1997: 1014 buildings, average cost: $56,700
1998: 1052 buildings, average cost: $56,900
1999: 449 buildings, average cost: $89,700
2000: 576 buildings, average cost: $87,900
2001: 864 buildings, average cost: $94,100
2002: 857 buildings, average cost: $95,600
2003: 1021 buildings, average cost: $94,900

Left: Enchanted Hills Subdivision --------------Right: High Resort Golf Course community

The information on this page is presented as a service by Patrick Montrose - Realtor. If you need more information about the Metropolitan Albuquerque Area or Rio Rancho Relocation information, please Click here to go to the Albuquerque Real Estate: P.F. Montrose homepage. There you will find more pages, like this one, filled with more information about the Metro Area.

New construction of large facilities include:

City Centre Development, including new City Hall and the completed Events Center.
New Indoor Aquatic Recreation Center.
New City Library.
New 48,000 SF office complex, home to Waste Management?s Regional Offices.
New 50,000 SF Aerospace Components Warehouse.
New 8,000 SF office for Professional Chefs Association.
New 19,000 SF retail center at Hwy 528 and Rockaway.
Lionsgate Entertainment 52.8 acre major motion picture studio.
Loma Colorado Development.
Mariposa, an upscale community, has home construction underway.
New high school site acquired and construction funded for a projected 2009 opening.
New UNM West Satellite Campus location identified, land acquired and planning underway.

RRE@PatMontrose.com