ALBUQUERQUE, N.M. — The New Mexico Department of Workforce Solutions’ Office of Housing will begin distributing $120 million this month to support housing and homelessness projects across the state.
The funding is part of a larger $140 million package drawn from the state’s general fund, capital outlay appropriations, and the Government Results and Opportunity Fund. Officials say the investment is aimed at expanding access to transitional and permanent housing statewide.
More than $80 million of the total will be directed to projects in the Albuquerque-Bernalillo County metropolitan area, where housing demand continues to outpace supply.
Albuquerque’s housing crisis has intensified in recent years. The median home price in the city has climbed to over $365,000—more than double what’s considered affordable for many residents. Nearly half of renters are cost-burdened, spending more than 30% of their income on housing. Meanwhile, housing construction has lagged behind job growth, and zoning restrictions have limited the types of housing that can be built.
State leaders say the funding will help accelerate development timelines and support a wider range of housing initiatives, including those led by nonprofit and for-profit organizations. The goal is to increase housing supply, reduce homelessness, and make housing more accessible across New Mexico.
