Rental Market Trends in New Mexico
$1,173/month
Average Rent
+3%
Increase in the Last Year
+$34
Average Price Increase
Ranked 18th
Least Expensive Rent by State
5,884
Available Rentals
Silver City, NM
City with the Lowest Rent
What is the average rent in New Mexico?
As of June 2025, the average rent in New Mexico is $1,173/month. When you rent an apartment in New Mexico, you can expect some variability depending on the region. For instance, metropolitan areas may have higher rents than smaller towns and rural areas. In general, you can expect to pay about $882 per month for a studio, $1,173 for a one-bedroom apartment, and around $1,412 for a two-bedroom apartment in New Mexico. If you opt for a three-bedroom rental, you could pay $1,714 or more.
Rent by City
What are the most affordable cities in New Mexico?
Based on current rent prices, the cheapest cities in New Mexico to live are Silver City, Portales and Deming.
What are the most expensive cities in New Mexico?
Based on current rent prices, the most expensive cities in New Mexico to live are Santa Fe, Los Alamos and Rio Rancho.
Nearby State Markets
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
State graphics provided by ProPublica
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