Average Rent In New Mexico For December 2019

By Chris Kolmar | HomeSnacks | Updated: 2019-12-18
$1,250
Average Rent
$0.853
Average $/sqft

What is the average rent in New Mexico?

According to the most recent data from Zillow, the average rent in New Mexico for December 2019 is $1,250. With an averge apartment size of 1,465 sqft, the average price per square foot in New Mexico is $0.853.

Compared to the national average of $1,650, New Mexico rent costs -24.2% less. Read our analysis of rents by state to see how New Mexico ranks.

Here's a look at how average rents have changed over time:

10 Worst Places To Live In New Mexico

How Does New Mexico Rent Compare To The Rest Of The Country?

StatisticNMUSA% Difference
Average Rent $1,250$1,650 -24.2%
Average $/sqft $0.853$1.143 -25.4%
M-o-M Change $0$-50 -100.0%
Y-o-Y Change $50$0 inf%
M-o-M % Change 0.0%-2.9% -
Y-o-Y % Change 4.2%0.0% -

Median Rent By Bedrooms In New Mexico

$875
Studio
$765
1-Bedroom
$959
2-Bedroom
$1,300
3-Bedroom
$1,495
4-Bedroom

As you would expect, the median price for rent in New Mexico increases as the number of bedrooms in the unit increases. Studios rent the cheapest in New Mexico clocking in at $875, while a four bedroom rental will set you back $1,495 per month.

We think the best deal comes in the form of a two bedroom for $959 per month, however, if you don't mind having roommates, the best option on a per room basis is a 4-bedroom rental for $373/room/month.

Read on to find out more or for more on New Mexico check out:

Month Over Month New Mexico Rent Statistics

$0
M-o-M Increase
0.0%
M-o-M Increase

New Mexico has experienced a $0 change in rent over the past month going from $1,250 to $1,250. That change comes out to 0.0%.

For reference, the US national average rent changed $-50 in the past month or -2.9%.

Here's a look at the month over month change for each month since 2010 for New Mexico:

Year Over Year New Mexico Rent Statistics

$50
Y-o-Y Increase
4.2%
Y-o-Y Increase

Over the past year, the average rent in New Mexico changed $50 from $1,200 to $1,250. A change of $50 means that rents changed 4.2% in a year.

That compares to the US national change of $0 in the past year or 0.0%.

Here's a look at the year over year change by month since 2011 for New Mexico:

The 10 Places With The Highest Rent In New Mexico

Rio Rancho, NM
Source: Public domain

Population: 93,317
Median Rent: $1,196
More on Rio Rancho: Real Estate | Data | Photos

Santa Fe, NM

Population: 82,980
Median Rent: $1,074
More on Santa Fe: Real Estate | Data | Photos

Los Lunas, NM
Source: Public domain

Population: 15,258
Median Rent: $1,000
More on Los Lunas: Real Estate | Data | Photos

Carlsbad, NM

Population: 28,393
Median Rent: $971
More on Carlsbad: Real Estate | Data | Photos

Ruidoso, NM
Source: Public domain

Population: 7,740
Median Rent: $931
More on Ruidoso: Real Estate | Data | Photos

Hobbs, NM
Source: Public domain

Population: 37,427
Median Rent: $919
More on Hobbs: Real Estate | Data | Photos

Corrales, NM

Population: 8,463
Median Rent: $904
More on Corrales: Real Estate | Data | Photos

Farmington, NM
Source: Public domain

Population: 45,857
Median Rent: $897
More on Farmington: Real Estate | Data | Photos

Albuquerque, NM

Population: 556,718
Median Rent: $891
More on Albuquerque: Real Estate | Data | Photos

Clovis, NM

Population: 39,255
Median Rent: $865
More on Clovis: Real Estate | Data | Photos

Learn More About Living In New Mexico

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn.

Average Rent By State

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