According to a new study released by CoWorkingCafe, Albuquerque ranks at No. 9 on the list among U.S. cities for overall economic growth, earning 59.4 points thanks to its strong wage gains, robust GDP expansion and thriving entrepreneurial activity.
Grounded in 11 key metrics — including GDP growth, job creation, housing expansion, export strength, business formation, infrastructure investment and educational attainment — the analysis recognizes success at every scale by ranking cities within three population brackets: large (500,000+ residents), mid-sized (250,000–500,000), and small (under 250,000).
According to the study,the latest data from 2019 through 2023 across key metrics like GDP growth, job gains, housing expansion, export strength and infrastructure buildout were used to track this shift..
Here are the key findings for Albuquerque:
- Business applications: Up 148% over the last 5 years, ranking second among large cities, just behind Sacramento, Calif. (166%).
- Public safety: Reported crime declined by 20%, showing the third-best progress on community safety among peer cities.
- Median earnings: Local wages increased by 30% between 2019–2023, placing Albuquerque ninth for income growth.
- Housing stock: The number of housing units grew by 5% (placing ninth), keeping pace with population needs.
- GDP growth: The local economy expanded by 30%, ranking the city 14th among large cities.
- Educational attainment: The share of residents with a bachelor’s degree or higher rose by 3% (14th place).
- Infrastructure: Roadway mileage expanded by a modest 0.7%, ranking 15th among large cities.
- Trade/exports: Export activity increased by 22%, underscoring the city’s links to global commerce (placing 19th).
New Mexico stands out on the national map for economic momentum, with two cities ranking in the top 10 of their respective population brackets. Besides Albuquerque, Las Cruces secured the ninth place among small cities — underscoring the state’s broad-based economic progress across communities of different sizes.
The Chamber has long been an advocate for economic growth and sustainability. We congratulate both cities for making the list and their continuing efforts in keeping New Mexico competitive.