If you haven't yet, make your reservations in ABQ NOW! The CG's 'fill up' by the end of Jan (if they have not sold out already).
If you don't mind a short drive there are a few CG's in the mountains east of ABQ, about 45min from the balloon park and 30min from Winrock Mall where the shuttles will pick you up. And do use one of the shuttle services, so much easier and quicker.
FWIW, if you have not been to a balloon event, most things are done EARLY, as in before dawn. And it is usually a bit chilly (30's or 40's). I know, from Michigan that is tshirt weather