New Mexico renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in the purple and dark green areas.

New Mexico map of rent costs by neighborhood

Rental Price Key

Most affordable


On average, the cost of rent in New Mexico is about $1,110 per month. This puts it in the 38th percentile compared to the nation average cost of rent, which is $1,385. Households in New Mexico have a median income of $4,602 per month so the average renter in New Mexico is spending roughly 24% of their earnings on housing.

Nationally, and in New Mexico, home values are the data point most closely correlated with the cost of rent. The median price of a home in New Mexico is $257,767 right now, which is lower than states nearby, meaning that rents in New Mexico also tend to be lower versus these nearby states.

Higher rent prices are common in the northern parts of New Mexico while lower rent rates are often available in western areas.

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