Average Rent in New Mexico

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Current Versus Historical New Mexico Rents

New Mexico rentals average $1,850 for a 3-bedroom rental to $2,200 for a 4-bedroom rental. The median price of all currently available listings is $2,200, or roughly $1 per square feet.

For the apartment units and housing in October 2024, median rents have risen substantially over the last year. Studio rentals prices have decreased by $87 (-10.36%) year-over-year from $837 to $750. 1-bedroom rentals prices have increased by $424 (49.88%) year-over-year from $850 to $1,274. 2-bedroom rentals prices have increased by $213 (20.48%) year-over-year from $1,042 to $1,255. 3-bedroom rentals prices have increased by $173 (9.86%) year-over-year from $1,750 to $1,923. 4-bedroom rentals prices have increased by $117 (5.34%) year-over-year from $2,183 to $2,300. 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 11.76% this month. 1-bedroom rents have gone up by 17.91% this month. 2-bedroom rents have gone up by 13.78% this month. 3-bedroom rents have gone up by 4.82% this month. 4-bedroom rents have gone down by 4.99% this month.

Beds	Price / Sqft	Oct 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
3 BR	$0.30	$1,923	$1,750 (9.86%)	$1,508 (27.46%)
4+ BR	$2.06	$2,300	$2,183 (5.34%)	$1,782 (29.09%)

Historical Rents in New Mexico

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near New Mexico

There are a total of 31 cities nearby New Mexico. The average rent in New Mexico is currently $2,050 per month. A total of 25 cities nearby have an average rent lower than that. Our records show that San Antonio, TX, with an average rent of $1,206, is the most affordable city nearby. In contrast, the most expensive city near New Mexico is Lakeway, TX. Monthly rents here are on average $2,900 per month.

Let's compare New Mexico's rent against other top cities nearby by bedroom size. One bedrooms are about inf% more affordable. Two bedrooms in New Mexico are about inf% more affordable. Finally, rent for three bedrooms are about 8.11% more affordable. Want more information? Check out the top 10 cities out of 31 total cities near New Mexico in the following chart.

City	Studio	1 Bed	2 Bed	All
San Antonio, TX	$749	$994	$1,249	$1,206
Cedar City, UT	N/A	$595	$1,023	$1,250
Abilene, TX	$1,500	$700	$1,050	$1,295
El Paso, TX	$1,250	$750	$1,100	$1,650
Denver, CO	$1,558	$1,790	$2,545	$1,801
Burleson, TX	$3,535	N/A	$1,448	$1,963
Lago Vista, TX	N/A	$1,500	$1,650	$2,090
Fort Worth, TX	$1,200	$1,335	$1,550	$2,100
Henderson, NV	$1,550	$1,500	$1,750	$2,273
Lakeway, TX	N/A	$1,850	$1,663	$2,900

Top Neighborhoods Near New Mexico

There are a total of 24 neighborhoods in or near New Mexico. Some of these neighborhoods include Downtown Las Vegas, Bella Vita, and North University. We've included all of these top 24 neighborhoods in or near New Mexico in the following chart.

The average rent for these 24 neighborhoods in or near New Mexico is currently around $1,998 per month. A total of 19 neighborhoods have a lower average rent. Meaning, only five neighborhoods have a higher average rent than $1,998. Out of all the neighborhoods in or near New Mexico, Downtown Las Vegas has the most affordable average rent at $1,100 per month. Whereas, at $3,450 average rent per month, Downtown Austin is the most expensive neighborhood in or near New Mexico. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Downtown Las Vegas, Las Vegas, NV	$895	$1,073	$1,375	$1,100
Bella Vita, Spring Valley, NV	N/A	$1,100	$1,325	$1,295
North University, Austin, TX	$895	$1,223	$1,745	$1,450
Windsor Park, Austin, TX	$1,009	$1,044	$1,314	$1,465
Hyde Park, Austin, TX	$889	$963	$1,599	$1,541
West University, Austin, TX	$1,100	$1,250	$1,838	$1,650
North Austin, Austin, TX	$949	$1,095	$1,548	$1,675
Hancock, Austin, TX	$1,450	$1,225	$1,647	$1,695
Parker Lane, Austin, TX	N/A	$995	$1,597	$1,700
Gibson Springs, Henderson, NV	N/A	$1,222	$1,563	$1,850
Brentwood, Austin, TX	$950	$1,350	$1,648	$1,925
Garrison Park, Austin, TX	N/A	$950	$1,595	$1,995
Silverado Ranch, Paradise, NV	N/A	$1,400	$1,695	$2,000
South Lamar, Austin, TX	N/A	$1,700	$1,950	$2,000
North Loop, Austin, TX	N/A	$1,195	$1,850	$2,100
South River City, Austin, TX	$1,400	$1,700	$2,295	$2,150
Rhodes Ranch, Spring Valley, NV	N/A	$1,425	$1,623	$2,150
Green Valley North, Henderson, NV	N/A	N/A	$1,600	$2,173
Mountain Edge, Enterprise, NV	N/A	N/A	$1,825	$2,173
The Strip, Paradise, NV	$1,900	$2,700	$2,948	$2,250
Montropolis, Austin, TX	N/A	$1,450	$1,950	$2,400
Mira Villas, Las Vegas, NV	N/A	N/A	$1,848	$2,498
Southern Highlands, Enterprise, NV	N/A	N/A	N/A	$2,823
Downtown Austin, Austin, TX	$1,020	$2,948	$4,100	$3,450

Top Counties Near New Mexico

There are a total of 24 counties located by New Mexico. Some of these counties include Abilene, TX, Cedar City, UT, and San Antonio West, TX. The average rent for rentals in these counties is $2,008. That's roughly around $1 per sqft. A total of 22 counties have a lower average rent. The county that is the most affordable is Abilene, TX. It's average rent per month is $1,295. Vice versa, with an average rent of $3,000, Southwest Travis, TX is the most expensive county by New Mexico.

In comparison, rent for one bedroom listings in New Mexico is inf% more affordable than other counties nearby. Finally, rent for two bedrooms in New Mexico is inf% more affordable than other counties nearby. We've listed the top 10 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Abilene, TX	$1,500	$700	$1,050	$1,295
Cedar City, UT	N/A	$595	$1,023	$1,300
San Antonio West, TX	N/A	$1,256	$1,553	$1,326
El Paso, TX	$1,250	$750	$1,100	$1,495
El Paso East, TX	N/A	$500	$985	$1,795
Denver, CO	$1,558	$1,790	$2,545	$1,801
Granbury East, TX	$2,167	$1,200	$1,400	$2,000
Fort Worth, TX	$1,200	$1,258	$1,545	$2,015
El Paso Northwest, El Paso, TX	N/A	$850	N/A	$2,085
Weatherford Southeast, TX	$1,475	N/A	$2,499	$2,995

Top Zipcodes Near New Mexico

There are a total of 45 zipcodes in or near New Mexico. The average rent for all of these zipcodes is $2,100. A total of 36 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 89119, Paradise, NV at $1,300 per month. In comparison, the zipcode with the most expensive average rent of $3,348 per month is 78731, Austin, TX.

Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near New Mexico is $1,147 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,625 per month. Which comes out to $2 per sqft. The following chart 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
78660, Pflugerville, TX	N/A	$1,424	$1,765	$2,150
78745, Austin, TX	N/A	$1,288	$1,663	$1,995
78704, Austin, TX	$1,398	$1,687	$2,100	$2,500
78613, Cedar Park, TX	N/A	N/A	$1,675	$2,200
79938, Fort Hancock, TX	N/A	N/A	$1,050	$1,750
89148, Clark County, NV	N/A	$1,800	$1,680	$2,200
78665, Round Rock, TX	N/A	N/A	N/A	$2,200
76179, Fort Worth, TX	N/A	N/A	$2,150	$2,195
78664, Round Rock, TX	N/A	N/A	$1,525	$1,995
78748, Austin, TX	N/A	$1,495	$1,625	$2,195

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 $2,200. 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 $0 and an average price per square feet of $0.00. There are a total of 0 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 $0 and an average price per square feet of $0.00. There are a total of 0 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 $0 and an average price per square feet of $0.00. There are a total of 0 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 -0.10%, one bedroom rental prices have changed by 0.50%, two bedroom rental prices have changed by 0.20%, and three bedroom rental prices have changed by 0.10% year-over-year.

What is a reasonable rent price in New Mexico?

A reasonable rent price in New Mexico is around $1,760/month. You can search for these reasonably priced rental listings on RentHop.