Average rent in New Mexico
The median rent in New Mexico is $1,117 a month (Census ACS 2024), 25% lower than the U.S. median of $1,487. You need about $44,680 a year to afford it.
Monthly basics in New Mexico
| Cost | A month | Source |
|---|---|---|
| Rent (median, with utilities paid by renter) | $1,117 | Census ACS 2024 |
| Electricity bill (average home) | $108 | EIA, August 2026 |
| Car insurance, full coverage | $133 | Insurify, Oct 8, 2026 |
| Gas for 1,000 miles | $156 | AAA, Oct 24, 2026 |
| These together | $1,514 | our calculation |
Each line is a state average from a different source and date, so treat the total as a rough guide. Electricity is often already counted in gross rent when the renter pays it, so the total can double-count it. Gas for 1,000 miles assumes 27.2 mpg (EPA average new vehicle).
| State | Median rent | Income needed | Rank |
|---|---|---|---|
| Nebraska | $1,102 | $44,080 | 15 |
| Indiana | $1,104 | $44,160 | 16 |
| New Mexico | $1,117 | $44,680 | 17 |
| Wisconsin | $1,142 | $45,680 | 18 |
| Michigan | $1,168 | $46,720 | 19 |
| U.S. median | $1,487 | $59,480 | - |
Source: U.S. Census Bureau, American Community Survey, median gross rent (B25064), 2024 ACS 1-year, as republished in the Kansas Statistical Abstract (University of Kansas). Year-earlier: 2023 ACS 1-year, State of Hawaii Data Book. Gross rent = rent plus utilities and fuels paid by the renter. Income needed = rent × 12 ÷ 30% (our calculation). Asking rents for listings today are usually higher than this all-renter median.
Plan around it
See what a salary in New Mexico leaves you after tax with our New Mexico take-home pay calculator, then split it with the 50/30/20 budget calculator. Thinking of buying instead? Try the rent vs buy calculator.
Common questions
What is the average rent in New Mexico?
The median gross rent in New Mexico was $1,117 a month in 2024, per the Census Bureau's American Community Survey. That ranks 17 of 51 (1 = lowest). A year earlier it was $1,084.
How much do you need to make to afford rent in New Mexico?
About $44,680 a year before tax, so the median rent of $1,117 is 30% of income, a common rule of thumb (our calculation).
Is rent in New Mexico going up?
Median rent rose 3.0% in a year, from $1,084 to $1,117 (Census ACS, our calculation). Survey figures for a single year have a margin of error, so small changes may not be meaningful.