Rentometer, Inc. | Data as of 10/23/2025
New Mexico’s rental market blends Southwestern charm with a growing array of modern living options, drawing renters to vibrant cities and serene small towns alike. From the bustling streets of Albuquerque and historic downtown Santa Fe to the university‑town atmosphere of Las Cruces and the scenic mountain retreats of Taos, the state offers a rich tapestry of neighborhoods that cater to professionals, families, and outdoor enthusiasts. Proximity to iconic attractions such as the Rio Grande, White Sands National Park, and the Sandia Mountains adds unique lifestyle appeal that many renters prioritize when choosing a home in the Land of Enchantment.
Apartment rentals in New Mexico span a broad spectrum of size and price, with studio units averaging in the $1,100 range and median rents near $950. One‑bedroom apartments typically fall in the $1,200‑$1,300 range, while two‑bedroom units hover around $1,400‑$1,500, and larger three‑ and four‑plus bedroom apartments reach the $1,700‑$2,300 bracket. House rentals follow a comparable pattern, with studio homes averaging about $1,200 and median rents near $1,100. One‑bedroom houses often settle in the $1,600‑$1,700 range, two‑bedroom homes around $1,800‑$1,900, and larger three‑ and four‑plus bedroom houses span from the $2,200 up to the $2,600 range. These figures reflect a balanced market that accommodates both entry‑level renters and those seeking more spacious family homes.
Beyond price, New Mexico’s rental communities are known for their welcoming atmosphere and access to outdoor recreation, cultural festivals, and thriving local economies. Neighborhoods such as Albuquerque’s Nob Hill, Santa Fe’s Canyon Road district, and Las Cruces’ Downtown revitalization area provide residents with easy access to dining, arts, and retail. Whether you’re looking for a compact studio near campus, a family‑friendly house close to schools, or a spacious home with mountain views, the state’s diverse rental inventory and appealing lifestyle make New Mexico an attractive destination for renters across the country.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | Studio | $878 | $840 | $786 - $1,025 | $800 - $965 |
| Apartment | 1 Bedroom | $1,287 | $1,099 | $750 - $2,442 | $975 - $1,650 |
| Apartment | 2 Bedroom | $1,447 | $1,385 | $426 - $3,400 | $1,100 - $1,697 |
| Apartment | 3 Bedroom | $1,694 | $1,681 | $895 - $2,769 | $1,340 - $2,012 |
| House | Studio | $1,213 | $1,295 | $899 - $1,445 | $899 - $1,445 |
| House | 1 Bedroom | $1,401 | $1,177 | $525 - $3,400 | $800 - $1,700 |
| House | 2 Bedroom | $1,735 | $1,562 | $700 - $4,900 | $1,100 - $2,150 |
| House | 3 Bedroom | $2,326 | $2,000 | $200 - $10,500 | $1,750 - $2,500 |
| House | 4+ Bedroom | $2,577 | $2,350 | $1,200 - $12,000 | $1,900 - $2,700 |
In the current period, the average rent in New Mexico was $979 for Studio, $1,321 for 1 Bedroom, $1,577 for 2 Bedroom, $2,220 for 3 Bedroom, and $2,488 for 4+ Bedroom.
Data provided by Rentometer, Inc.