"Albuquerque's multi-housing market continues to remain strong," says a report by Grubb & Ellis.
"The current overall occupancy rate of 94% is expected to improve by 2% in 2002," the report notes. "Average rental rates are back up to mid-1990s levels of $0.73 per sf without utilities and are expected to increase in 2002 by 3.5% to 5%."
The most expensive rental units are found in Albuquerque's downtown, at $0.90 per sf.
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