Rental Market Trends in New Mexico
Updated September 2026
$1,193/month
Average Rent
+0.1%
Increase in the Last Year
+$1
Average Price Increase
Ranked 17th
Least Expensive Rent by State
5,008
Available Rentals
Clovis, NM
City with the Lowest Rent
What is the average rent in New Mexico?
As of September 2026, the average rent in New Mexico is $1,193/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 $916 per month for a studio, $1,193 for a one-bedroom apartment, and around $1,429 for a two-bedroom apartment in New Mexico. If you opt for a three-bedroom rental, you could pay $1,785 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 Clovis, Roswell and Farmington.
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, Rio Rancho and Carlsbad.
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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