Rent Trends / NM
Rent Trends in New Mexico: 2015 to 2026
Yearly Zillow Observed Rent Index (ZORI) for 18 cities in New Mexico. The average across tracked cities is $1,630/month in 2026, up from $873 in 2015 (+86.7%). That sits $335 below (-17.0% vs) the U.S. typical rent of $1,965.
Last updated: July 19, 2026
Source: Zillow Observed Rent Index (ZORI) · Jan snapshots for 2015–2025; 2026 column = June 2026 release · U.S. typical rent $1,965 (June 2026)
What the New Mexico rent trend shows
This page follows market rents in New Mexico from 2015 through mid-2026 using the same Zillow ZORI vintage for every city in the table. State figures below are simple averages of the tracked cities — useful for comparing places inside New Mexico and stacking the state against the published U.S. typical rent ($1,965/month in June 2026, up from $1,362 in January 2019 on our national series).
Since 2023, the tracked-city average in New Mexico has risen from about $1,368 to $1,630 (+19.2%). That is the post-spike path — not a full reset to mid-2010s rents. The latest year step (2025 → 2026) is +16.9% ($1,394 → $1,630).
Within the state, long-run winners and losers split by city. The largest percentage increase from the earliest reading to 2026 is Rio Rancho (+91.8%, $968 → $1,857). 3 of 18 tracked cities are higher than their 2015 (or earliest) level.
For the national rent story, see the Rent Index. Statewide maps live on Rent by State. Full city database: Rent by City.
City-level breakdown in New Mexico
Lowest 2026 rents
- Portales — $862
- Truth or Consequences — $1,200
- Clovis — $1,206
- Farmington — $1,341
- Silver City — $1,350
Highest 2026 rents
- Los Alamos — $2,645
- Taos — $2,200
- Edgewood — $2,200
- Los Lunas — $2,025
- Santa Fe — $1,932
Full list with every year from 2015–2026 is in the sortable table below.
All New Mexico cities — yearly rent table
| City | Metro | '15 | '16 | '17 | '18 | '19 | '20 | '21 | '22 | '23 | '24 | '25 | '26 | % Chg |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Albuquerque | $828 | $844 | $865 | $893 | $928 | $976 | $1,050 | $1,236 | $1,353 | $1,401 | $1,445 | $1,486 | +79.5% | |
| Las Cruces | $822 | $841 | $865 | $888 | $912 | $955 | $1,058 | $1,180 | $1,294 | $1,347 | $1,388 | $1,424 | +73.2% | |
| Santa Fe | — | — | $1,075 | $1,142 | $1,279 | $1,356 | $1,429 | $1,637 | $1,786 | $1,863 | $1,899 | $1,932 | +79.7% | |
| Rio Rancho | $968 | $1,002 | $1,023 | $1,053 | $1,094 | $1,169 | $1,270 | $1,452 | $1,611 | $1,715 | $1,782 | $1,857 | +91.8% | |
| Farmington | — | — | — | — | — | — | — | — | — | $1,181 | $1,257 | $1,341 | +13.5% | |
| Roswell | — | — | — | — | — | — | — | — | $1,152 | $1,180 | $1,320 | $1,399 | +21.4% | |
| Hobbs | — | — | — | — | — | — | — | — | — | $1,307 | $1,403 | $1,497 | +14.5% | |
| Los Lunas | — | — | — | — | — | — | — | — | $1,328 | $1,476 | $1,454 | $2,025 | +52.5% | |
| Clovis | — | — | — | — | — | — | — | $1,000 | $1,054 | $1,100 | $1,121 | $1,206 | +20.6% | |
| Carlsbad | — | — | — | — | — | — | — | — | — | — | — | $1,568 | +0.0% | |
| Alamogordo | — | — | — | — | — | — | — | — | — | $1,356 | $1,460 | $1,546 | +14.0% | |
| Los Alamos | — | — | — | — | — | — | — | — | — | — | — | $2,645 | +0.0% | |
| Silver City | — | — | — | — | — | — | — | — | — | — | — | $1,350 | +0.0% | |
| Edgewood | — | — | — | — | — | — | — | — | — | — | — | $2,200 | +0.0% | |
| Portales | — | — | — | — | — | — | — | — | — | $778 | $810 | $862 | +10.8% | |
| Taos | — | — | — | — | — | — | — | — | — | — | — | $2,200 | +0.0% | |
| Truth or Consequences | — | — | — | — | — | — | — | — | — | — | — | $1,200 | +0.0% | |
| Santa Teresa | — | — | — | — | — | — | — | — | — | — | — | $1,598 | +0.0% |
Click any column header to sort · % Chg uses earliest available year → 2026
Frequently asked questions — New Mexico rent
Is New Mexico cheap to rent in 2026?
Yes — relative to the national market. The average rent across 18 tracked New Mexico cities is about $1,630/month, which is $335 below (-17.0% vs) the U.S. typical rent of $1,965. That is a city-average in our sample, not a single statewide ZORI print, but it is a clear signal that New Mexico screens cheaper than the U.S. typical $1,965.
What city in New Mexico has the cheapest rent?
Among cities in our ZORI sample, Portales is the lowest at about $862/month (2026). Other lower-rent cities include Truth or Consequences ($1,200), Clovis ($1,206), Farmington ($1,341).
What city in New Mexico has the most expensive rent?
Los Alamos leads our sample at about $2,645/month in 2026, followed by Taos ($2,200) and Edgewood ($2,200).
How much have rents in New Mexico changed since 2015?
Across tracked cities, the average moved from about $873 in 2015 to $1,630 in 2026 (+86.7%). 3 of 18 cities are higher than their earliest reading in this series; the largest percentage jump is Rio Rancho (+91.8%).
Are rents in New Mexico still rising year over year?
From 2025 to 2026, the average across tracked New Mexico cities went from about $1,394 to $1,630 (+16.9%). Since 2023 ($1,368), that is +19.2%. Individual cities can diverge — sort by % Chg or compare the '25 and '26 columns.