Albuquerque’s high desert landscape has long been known for its stunning vistas and unique light, which photographers and filmmakers cherish. But in recent years, Albuquerque has become one of America’s fastest-growing film and television production hubs. The film industry’s recent growth is profoundly influencing Albuquerque’s economy, cultural identity, and real estate market.
Netflix has been the foundation of this film industry expansion. When Netflix announced its purchase of Albuquerque Studios in 2018, committing to a $1 billion investment over the next decade, few could have predicted the ripple effects of this decision on the local housing market. Now, nearly seven years into that commitment, those effects are unmistakable as the Netflix Effect takes hold.
Netflix has since expanded its original commitment, pledging an additional $2 billion in production spending and expanding its studio footprint to over 300 acres, making it one of North America’s most extensive production facilities. The streaming giant has produced hits like “Army of the Dead,” “Stranger Things” (which filmed portions of its later seasons in Albuquerque), and the western series “American Primeval” in the city.
This expansion has brought entertainment professionals to Albuquerque—from actors and directors to crew members, set designers, and post-production specialists. Once they experience Albuquerque’s magic and lifestyle, many choose to relocate permanently, while others maintain residences for extended productions, creating both buying and high-end rental demand.
NBCUniversal has also joined the Albuquerque party. Netflix isn’t alone in recognizing Albuquerque’s potential. NBCUniversal opened a production facility in 2019, converting an empty warehouse into a state-of-the-art television and film studio. The facility has been home to productions like “MacGruber,” “The Biggest Loser,” and segments of “America’s Got Talent.”
The combined presence of these major studios has created what industry insiders call a “production ecosystem” that attracts smaller independent productions looking to leverage the growing pool of local talent and resources.
This entertainment industry growth has created distinct patterns and emerging hotspots in Albuquerque’s real estate market:
Nob Hill and University Area
The Nob Hill and University Area offers eclectic, walkable neighborhoods near the University of New Mexico, which seem to have caught the creative eyes of production staff. The area has seen some of the most dramatic appreciation, with home values increasing 18-22% in the past three years, significantly outpacing the city average of 14%.
The Sandi Pressley Team’s experience helping film industry professionals find homes has shown us a trend for crew members, especially those in the creative and production departments, choosing Nob Hill. They appreciate the character-filled homes, vibrant restaurants, and eclectic, creative scene near the University. It’s also convenient because of its proximity to downtown production facilities.
A Nob Hill craftsman bungalow that might have sold for $350,000 pre-Netflix now easily commands $450,000 or more, particularly if it has been thoughtfully updated while maintaining its historic character.
Downtown and East Downtown (EDo) were previously overlooked areas. As we wrote in a recent blog article, downtown neighborhoods and around downtown have experienced remarkable revitalization, driven partly by entertainment industry workers seeking urban living with short commutes to studios.
The conversion of former commercial buildings into loft apartments and condominiums has accelerated, with developments like The Imperial Building and One Central becoming particularly sought-after by industry professionals. Property values in downtown have risen approximately 15-20% since 2021, with luxury units selling more quickly than ever.
The rustic charm of North Valley, with its larger lots and rural feel despite proximity to downtown, has attracted directors, producers, and actors looking for more privacy and space.
The North Valley offers unique opportunities to get Adobe homes on half-acre lots. It also provides acequia access and towering cottonwoods while remaining within a 15-minute commute to the studios. We’ve helped several high-profile industry executives find sanctuary in this area while remaining connected to the production community.
Perhaps most directly impacted is Mesa del Sol, the master-planned community where Netflix’s central production facility is. Once seen as too remote by many Albuquerque homebuyers, Mesa del Sol has transformed into a development with steady appreciation and decreasing days on the market.
Builders have accelerated new construction to meet the higher demand. New Construction Companies are also offering unique and custom features like home offices, high-speed internet packages, and flexible spaces that can double as screening rooms. They’re targeting the features directly to film industry professionals.
The entertainment industry’s impact extends beyond primary residences, creating new investment property opportunities. We’re seeing a whole new type of rental property demand for a wide variety of new lessees.
Executive rentals make up a portion of this new demand. Properties catering to actors, directors, and producers who need comfortable, well-appointed accommodations for productions lasting 3-6 months. These furnished homes can command 1.5-2 times the rent of traditional leases.
We’ve witnessed investors purchasing new homes specifically to serve this market. When marketed to production companies, a well-located three-bedroom home with higher-end finishes and furnishings can generate a substantial premium over standard rental rates.
Crew housing is also needed. More modest rental properties near production facilities are in high demand for crew members. These properties experience extremely low vacancy rates and increased rental stability.
We’ve also seen a proliferation of commercial building conversions. Former retail and warehouse spaces are being converted to production-adjacent businesses—from specialty equipment rental facilities to post-production studios—creating commercial real estate opportunities in previously overlooked areas.
For example, innovations in design and amenities for New construction and renovations feature elements that appeal to entertainment professionals:
• High-speed internet infrastructure
• Home offices and multimedia rooms
• Flexible spaces adaptable to changing needs
• Energy-efficient features (essential to the environmentally conscious entertainment community)
We’re also finding that many industry transplants specifically seek authentic Albuquerque character. As a result, there’s renewed interest in preserving the architectural and cultural elements that make neighborhoods distinct. Historic districts have seen particular appreciation as buyers value authenticity.
Areas popular with entertainment professionals have shown greater resistance to market fluctuations and price resilience. Even during recent interest rate increases, desirable homes in these neighborhoods maintained their value better than comparable properties in other areas.
A fun and unanticipated impact has been how specific productions have reshaped neighborhoods. Certain productions have had notable impacts on specific Albuquerque areas:
“Better Call Saul” – The critically acclaimed “Breaking Bad” spin-off used numerous Albuquerque locations throughout its six-season run. Homes near iconic filming locations such as Saul’s office (a strip mall on Montgomery Blvd) have seen increased interest and property value growth.
“Stranger Things”—When this global phenomenon filmed portions of its later seasons in Albuquerque, it brought heightened attention to the city’s film industry. Stranger Things utilized Netflix studios’ facilities and locations throughout the city, with cast members often seen in Nob Hill establishments, further cementing the neighborhood’s appeal.
“Oppenheimer” – While primarily filmed in Los Alamos, this Oscar-winning Christopher Nolan film brought significant attention to New Mexico’s film capabilities. It resulted in crew housing demand in Albuquerque’s rental market.
“Dark Winds” – This AMC series, based on Tony Hillerman’s Leaphorn & Chee novels, showcases the stunning landscapes around Albuquerque. Its success has increased interest in properties with mountain views and access to natural beauty.
The Sandi Pressley Team is your recognized Albuquerque and Entertainment Industry Experts. Albuquerque’s relationship with the entertainment industry has evolved, and so has its expertise in navigating this specialized real estate market. The Sandi Pressley Team has emerged as leaders in connecting entertainment professionals with ideal properties.
Understanding the unique needs of clients in the entertainment industry requires more than knowing neighborhoods and price points. It’s about understanding production schedules, studio proximity, and creating flexible living situations that accommodate the dynamic nature of film and television production.
The Sandi Pressley Team offers entertainment industry clients:
Production-Specific Knowledge: Understanding of how production schedules and locations influence housing needs.
Industry Connections: Relationships with studio housing coordinators and production companies to anticipate coming needs.
Privacy Expertise: Experience helping high-profile clients maintain privacy and confidentiality while finding and buying their new home.
Flexible Closing Strategies: We make sure we’re flexible and have instituted new creative approaches to transaction timing that accommodate production schedules and unique funds’ cash flow.
Relocation Guides: Comprehensive support for advising and guiding entertainment professionals relocating from significant markets, like New York L.A. or Chicago, with particular attention to explaining Albuquerque’s unique cultural landscape.
As Netflix completes its expansion and additional productions choose Albuquerque, industry experts project continued positive impacts on the real estate market. Upcoming productions like the recently announced Netflix series “The Abandon” and others in development are expected to bring additional entertainment professionals to the city.
The New Mexico Film Office reports that production spending in the state reached a record $855 million in 2023-2024, with approximately 65% centered in the Albuquerque area. This economic injection fundamentally changes neighborhoods and creates new opportunities for homeowners, buyers, and investors.
City officials have also recently approved additional incentives for productions that utilize areas outside the established studio zones, potentially expanding the real estate impact to new neighborhoods in the coming years.
The Sandi Pressley Team offers personalized consultations to discuss your situation and how the entertainment industry relates to it.
ACTION! …
No matter who you are, navigating this dynamic market requires expert guidance. You may be an entertainment professional relocating to Albuquerque, an investor looking to capitalize on the studio expansion, or a current homeowner wondering how these changes might affect your property value.
Are you ready to explore how Albuquerque’s entertainment boom could benefit your real estate journey? Contact the Sandi Pressley Team today.
Phone: (505) 263-2173
Website: https://www.sandisells.com/
From finding the perfect home near production facilities to investing in entertainment-adjacent neighborhoods, trust the team that understands Albuquerque’s neighborhoods and its evolving entertainment landscape—the Sandi Pressley Team.
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