Average Rent in New Mexico

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Current Versus Historical New Mexico Rents

New Mexico rentals average $800 for a studio rental to $2,200 for a 4-bedroom rental. The median price of all currently available listings is $1,000, or roughly $15 per square feet.

For the apartment units and housing in August 2026, median rents have fallen substantially over the last year. Studio rentals prices have decreased by $280 (-28.61%) year-over-year from $979 to $699. 1-bedroom rentals prices have decreased by $163 (-16.61%) year-over-year from $983 to $820. 2-bedroom rentals prices have decreased by $99 (-8.63%) year-over-year from $1,149 to $1,050. 3-bedroom rentals prices have decreased by $193 (-9.48%) year-over-year from $2,030 to $1,838. 4-bedroom rentals prices have decreased by $143 (-6.25%) year-over-year from $2,293 to $2,150. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 10.54% this month. 1-bedroom rents have gone up by 0.92% this month. 2-bedroom rents have gone up by 4.30% this month. 3-bedroom rents have gone down by 6.33% this month. 4-bedroom rents have gone down by 1.45% this month.

Beds	Price / Sqft	Aug 2026 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$19.50	$699	$979 (-28.61%)	$860 (-18.72%)
1 BR	$15.34	$820	$983 (-16.61%)	$842 (-2.57%)
2 BR	$15.23	$1,050	$1,149 (-8.63%)	$1,050 (0.00%)
3 BR	$14.55	$1,838	$2,030 (-9.48%)	$1,783 (3.04%)
4+ BR	$13.39	$2,150	$2,293 (-6.25%)	$2,258 (-4.76%)

Historical Rents in New Mexico

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near New Mexico

There are a total of 50 cities nearby New Mexico. The average rent in New Mexico is currently $2,129 per month. Only one city nearby has an average rent lower than that. Our records show that Albuquerque, NM, with an average rent of $908, is the most affordable city nearby. In contrast, the most expensive city near New Mexico is La Quinta, CA. Monthly rents here are on average $6,125 per month.

Let's compare New Mexico's rent against other top cities nearby by bedroom size. Typically, rent for studios in New Mexico is 27.44% more affordable than other cities nearby. One bedrooms are about 51.36% more affordable. Two bedrooms in New Mexico are about 70.09% more affordable. Finally, rent for three bedrooms are about 18.22% more affordable. Want more information? Check out the top 10 cities out of 50 total cities near New Mexico in the following table.

City	Studio	1 Bed	2 Bed	All
Albuquerque, NM	$765	$825	$995	$908
Lubbock, TX	$500	$649	$799	$1,225
Tucson, AZ	$575	$835	$1,295	$1,425
El Paso, TX	$950	$750	$1,150	$1,600
Mesa, AZ	$1,088	$1,195	$1,511	$1,995
San Tan Valley, AZ	N/A	N/A	$3,500	$2,150
Tempe, AZ	$1,515	$1,368	$1,700	$2,200
Gilbert, AZ	$1,280	$1,825	$2,197	$2,495
Chandler, AZ	$1,360	$1,503	$1,900	$2,497
Scottsdale, AZ	$1,207	$1,895	$3,250	$4,000

Top Neighborhoods Near New Mexico

There are a total of 97 neighborhoods in or near New Mexico. Some of these neighborhoods include St. Johns, Westchase, and Greater Fondren Southwest. We've included the top 30 neighborhoods out of 97 total neighborhoods in or near New Mexico in the following table.

The average rent for these 30 neighborhoods in or near New Mexico is currently around $1,940 per month. A total of one neighborhood has a lower average rent. Meaning, only twenty-nine neighborhoods have a higher average rent than $1,940. Interestingly, the neighborhoods' average rent is higher than New Mexico's average rent, which is only $1,000. Out of all the neighborhoods in or near New Mexico, Westwood has the most affordable average rent at $992 per month. Whereas, at $6,000 average rent per month, PGA West is the most expensive neighborhood in or near New Mexico. View the following table for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
St. Johns, Austin, TX	$975	$1,139	$1,489	$1,175
Westchase, Houston, TX	$850	$995	$1,300	$1,206
Greater Fondren Southwest, Houston, TX	$826	$870	$1,107	$1,225
North University, Austin, TX	$890	$1,075	$1,750	$1,235
Eldridge - West Oaks, Houston, TX	$1,015	$957	$1,199	$1,249
Sharpstown, Houston, TX	N/A	$865	$1,250	$1,273
Woodlake - Briar Meadow, Houston, TX	$889	$1,099	$1,365	$1,280
West University, Austin, TX	$1,095	$1,098	$1,650	$1,350
Alief, Houston, TX	$779	$940	$1,250	$1,400
Lake Highlands, Dallas, TX	$1,050	$1,000	$1,490	$1,410
Briarforest, Houston, TX	$995	$1,145	$1,525	$1,687
Hancock, Austin, TX	$1,586	$1,273	$1,895	$1,709
Spring Branch West, Houston, TX	N/A	$1,609	$1,600	$1,780
South Lamar, Austin, TX	$1,150	$1,465	$1,800	$1,795
Spring Branch Central, Houston, TX	$805	$959	$1,114	$1,800
North Burnet, Austin, TX	$1,511	$1,630	$2,291	$1,839
Riverside, Austin, TX	$1,450	$1,525	$2,192	$1,900
Sun City, AZ	N/A	$1,748	$1,850	$1,900
Memorial, Houston, TX	$1,461	$1,490	$1,957	$2,012
Downtown Dallas, Dallas, TX	$1,596	$1,895	$2,395	$2,220
Rhodes Ranch, Spring Valley, NV	N/A	$1,443	$1,663	$2,250
Mira Villas, Las Vegas, NV	N/A	$1,350	$1,850	$2,387
Zilker, Austin, TX	$1,708	$2,707	$2,917	$2,805
Sun City Anthem, Anthem, AZ	N/A	$1,435	$3,500	$3,000
Oak Lawn, Dallas, TX	$1,658	$2,098	$3,388	$3,030
Downtown Austin, Austin, TX	$2,294	$2,758	$4,000	$3,188
Downtown Scottsdale, Scottsdale, AZ	$1,295	$2,750	$3,250	$3,599
Scottsdale Ranch, Scottsdale, AZ	N/A	$3,400	$3,800	$3,750
Greyhawk, Scottsdale, AZ	N/A	$1,850	$3,375	$4,200
McCormick Ranch, Scottsdale, AZ	$2,025	$2,250	$3,995	$4,490

Top Counties Near New Mexico

There are a total of 49 counties located by New Mexico. Some of these counties include Bernalillo, NM, Lubbock, TX, and El Paso, TX. The average rent for rentals in these counties is $2,075. That's roughly around $15 per sqft. A total of one county has a lower average rent. The county that is the most affordable is Bernalillo, NM. Its average rent per month is $908. Vice versa, with an average rent of $4,000, San Diego, CA is the most expensive county by New Mexico.

Typically, rent for studios in New Mexico is 68.75% more affordable than other counties nearby. In comparison, rent for one bedroom listings in New Mexico is 57.45% more affordable than other counties nearby. Finally, rent for two bedrooms in New Mexico is 60.08% more affordable than other counties nearby. We've listed the top 10 counties in the table below.

County	Studio	1 Bed	2 Bed	All
Bernalillo, NM	$765	$825	$995	$908
Lubbock, TX	$500	$649	$799	$1,275
El Paso, TX	$950	$763	$1,150	$1,435
Pima, AZ	$575	$870	$1,445	$1,613
Pinal, AZ	$1,749	$1,100	$1,720	$1,899
El Paso East, TX	N/A	$804	$1,007	$1,900
El Paso, CO	$980	$1,025	$1,250	$1,925
El Paso Northwest, El Paso, TX	N/A	$673	$1,650	$1,950
Abilene, TX	$875	$1,095	$1,495	$2,195
Maricopa, AZ	$970	$1,425	$1,999	$2,350

Top Zipcodes Near New Mexico

There are a total of 49 zipcodes in or near New Mexico. The average rent for all of these zipcodes is $2,250.

Studios in these zipcodes have an average rent of $1,045. That's at least $26 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near New Mexico is $1,420 per month. Or in other words, $23 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,773 per month. Which comes out to $19 per sqft. The following table includes the top 10 zipcodes in New Mexico. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
79938, Fort Hancock, TX	N/A	$881	$1,208	$1,850
79928, Agua Dulce, TX	N/A	$700	$1,200	$2,000
78705, Austin, TX	$998	$1,160	$1,695	$1,350
85251, Scottsdale, AZ	$799	$1,991	$2,497	$3,000
77449, Houston, TX	$850	$1,275	$1,724	$1,970
79912, El Paso, TX	$2,000	$1,000	$1,395	$1,860
77493, Northwest Harris, TX	$2,900	$1,397	$1,750	$2,350
79936, El Paso, TX	$2,000	N/A	$995	$1,500
77494, Fulshear-Simonton, TX	$3,000	$1,406	$1,814	$2,550
85255, Scottsdale, AZ	N/A	$1,890	$3,898	$5,000

Frequently Asked Questions - New Mexico Average Rents

What is the average rent price in New Mexico?

The average monthly rental price for New Mexico apartments for rent is approximately $1,000. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do New Mexico rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in New Mexico.

How much is a studio apartment in New Mexico?

The average monthly rental price for studio apartments is $800 and an average price per square feet of $19.50. There are a total of 13 studio apartment listings currently available for rent in New Mexico.

How much is a one bedroom apartment in New Mexico?

The average monthly rental price for one bedroom apartments is $825 and an average price per square feet of $15.34. There are a total of 37 one bedroom apartment listings currently available for rent in New Mexico.

How much is a two bedroom apartment in New Mexico?

The average monthly rental price for two bedroom apartments is $1,000 and an average price per square feet of $15.23. There are a total of 34 two bedroom apartment listings currently available for rent in New Mexico.

How have rent prices in New Mexico changed this year?

Rent prices for rentals in New Mexico can fluctuate yearly. Specifically, studio rental prices have changed by -0.29%, one bedroom rental prices have changed by -0.17%, two bedroom rental prices have changed by -0.09%, three bedroom rental prices have changed by -0.09% year-over-year.

What is a reasonable rent price in New Mexico?

A reasonable rent price in New Mexico is around $800/month. You can search for these reasonably priced rental listings on RentHop.