New Mexico Rental Market Trends
Last updated: July 02, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in New Mexico is $1,419, a 1.27% increase compared to the previous year, when the average rent was $1,401.
Studio Apartments at $926 offer the most budget-friendly option with 429 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 682 square feet for $1,266, balancing privacy and affordability.
Two-beedroom units at $1,538 offer 971 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,240 sq ft) for $1,908, suitable for larger households.
Average rent in New Mexico
Last updated: July 02, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,419 | 835 sq. ft. |
| Studio | $926 | 429 sq. ft. |
| 1 Bed | $1,266 | 682 sq. ft. |
| 2 Beds | $1,538 | 971 sq. ft. |
| 3 Beds | $1,908 | 1,240 sq. ft. |
New Mexico rent trends
What's the typical rent budget in New Mexico?
The largest share of rentals in New Mexico (46%) fall between $1,001-$1,500 per month. This suggests that most people succesfully find suitable apartments within this price.
Do most people rent or own in New Mexico?
251,477 or 30% of the households in New Mexico are renter-occupied while 585,937 or 70% are owner-occupied.
How New Mexico Compares to Other States
| State | Average Rent | Average Apartment Size |
|---|---|---|
| Alabama | $1,324 | 992 sq. ft. |
| Arizona | $1,563 | 864 sq. ft. |
| Arkansas | $1,150 | 895 sq. ft. |
| California | $2,666 | 853 sq. ft. |
| Colorado | $1,838 | 875 sq. ft. |
| Connecticut | $2,176 | 897 sq. ft. |
| Delaware | $1,714 | 921 sq. ft. |
| District of Columbia | $2,470 | 747 sq. ft. |
| Florida | $1,981 | 983 sq. ft. |
| Georgia | $1,640 | 1,027 sq. ft. |
| Idaho | $1,684 | 932 sq. ft. |
| Illinois | $2,064 | 840 sq. ft. |
| Indiana | $1,344 | 909 sq. ft. |
| Iowa | $1,239 | 895 sq. ft. |
| Kansas | $1,333 | 909 sq. ft. |
| Kentucky | $1,336 | 934 sq. ft. |
| Louisiana | $1,240 | 916 sq. ft. |
| Maine | $2,057 | 837 sq. ft. |
| Maryland | $1,894 | 908 sq. ft. |
| Massachusetts | $2,876 | 880 sq. ft. |
| Michigan | $1,423 | 920 sq. ft. |
| Minnesota | $1,665 | 893 sq. ft. |
| Mississippi | $1,329 | 1,010 sq. ft. |
| Missouri | $1,364 | 902 sq. ft. |
| Montana | $1,722 | 887 sq. ft. |
| Nebraska | $1,365 | 931 sq. ft. |
| Nevada | $1,558 | 910 sq. ft. |
| New Hampshire | $2,187 | 877 sq. ft. |
| New Jersey | $2,429 | 871 sq. ft. |
| New Mexico | $1,419 | 835 sq. ft. |
| New York | $2,692 | 872 sq. ft. |
| North Carolina | $1,564 | 978 sq. ft. |
| North Dakota | $1,178 | 965 sq. ft. |
| Ohio | $1,356 | 900 sq. ft. |
| Oklahoma | $1,076 | 859 sq. ft. |
| Oregon | $1,753 | 845 sq. ft. |
| Pennsylvania | $1,816 | 889 sq. ft. |
| Rhode Island | $2,212 | 915 sq. ft. |
| South Carolina | $1,636 | 1,015 sq. ft. |
| South Dakota | $1,208 | 913 sq. ft. |
| Tennessee | $1,548 | 953 sq. ft. |
| Texas | $1,452 | 892 sq. ft. |
| Utah | $1,653 | 930 sq. ft. |
| Virginia | $2,018 | 923 sq. ft. |
| Washington | $2,043 | 829 sq. ft. |
| Wisconsin | $1,633 | 920 sq. ft. |
/
/
Where this data comes from
The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.
Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all New Mexico apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.
Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.