Average Rent Prices in New Mexico (NM)
$9331
Studio
$1,0621
1BR
$1,2581
2BR
$1,7051
3BR
$1,8861
4BR
As of 2025, the overall average fair market rent for a residential rental property in New Mexico is $1,369. Average rent prices in New Mexico sit below the national average rent of $1,274, in which New Mexico ranks as the 28th lowest rent among all 50 states and the 23rd highest rent among all 50 states within the United States. In New Mexico’s large metropolitan areas such as Albuquerque, NM, the average rent prices tend to be higher, while alternative areas such as Santa Fe, NM, can provide more affordable options.
New Mexico (NM) National Rent Rankings
23rd
Highest Rent Among 50 States
28th
Lowest Rent Among 50 States
Below
The National Rent Average
Average Rent Prices in New Mexico (NM) Visual Chart
Studio
A one-room unit with a private bathroom.
1BR
A unit that has a separate bathroom and a separate bedroom.
2BR
A unit that has two separate and distinct bedrooms.
3BR
A unit that has 3 separate and distinct bedrooms.
4BR
A unit that has 4 separate and distinct bedrooms.
Fair Market Rent
Gross rent estimate for a standard rental unit in a given market.
Average Rent Prices in New Mexico (NM) by Metro Area
| wdt_ID | Metro | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|---|
| 1 | Albuquerque, NM MSA | 913 | 1.084 | 1.331 | 1.865 | 2.209 |
| 2 | Farmington, NM MSA | 841 | 855 | 1.034 | 1.449 | 1.571 |
| 3 | Las Cruces, NM MSA | 741 | 940 | 1.041 | 1.447 | 1.605 |
| 4 | Santa Fe, NM MSA | 1.235 | 1.368 | 1.627 | 2.057 | 2.157 |
| Metro | Studio | 1BR | 2BR | 3BR | 4BR |
Based on average of Fair Market Rents (FMRs) for 0-4 bedroom residential rental units throughout United States excluding Puerto Rico for calendar year 2025.
Average Rent Prices in Other US States 2025
Rent prices for each state across the United States can greatly vary. Click on a State below to see the specific fair market residential rent prices for that state:
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New Mexico (NM) Rental Lease Agreements
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1Based on average of Fair Market Rents (FMRs) for 0-4 bedroom residential rental units throughout the United States, excluding Puerto Rico.
Methodology
Areas with insufficient inventory or populations less than 25,000 were excluded from this analysis. Averages are based on the combined average of 0-4 bedroom residential rental properties throughout the United States excluding Puerto Rico.
Data
Rent prices are based on aggregated data from one and/or several sources noted below:
Disclaimer
The information included is used for illustrative purposes only. The data contained herein does not constitute financial, legal, or any material advice. Data is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals before making any material decisions.