State FMR profile · HUD FY2026

Fair Market Rents in New Mexico

The average 1-bedroom Fair Market Rent across New Mexico is $927/mo — 3% below the US average.

$927
Avg 1BR FMR
33
Counties
4
Metro areas

The verdict

New Mexico's 2-bedroom Fair Market Rent averages $1,129 — 4% below the US average, the 30th lowest of 51 states.

#30
most affordable of 51 states (2BR)
-4%
vs the US 2-bedroom average
$45,160
income to afford it (30% rule)
87%
gap, cheapest→priciest county

FY 2026 HUD Fair Market Rents for 33 counties and 4 metro areas in NM. Verify with HUD →

What these rents mean for New Mexico

Across New Mexico's 33 counties and 4 metro areas, HUD's FY 2026 Fair Market Rents average $828 for a studio, $927 for a 1-bedroom, $1,129 for a 2-bedroom, $1,496 for a 3-bedroom, and $1,758 for a 4-bedroom. FMR is set at the county or metro FMR area level — not statewide — so the numbers above are the arithmetic average of every FMR area inside NM, weighted equally. Local housing authorities use each county's or metro's FMR (not the state average) to calibrate Section 8 Housing Choice Voucher payment standards, typically ranging from 90% to 110% of FMR.

Benchmarked against the rest of the country, New Mexico's average 1-bedroom FMR of $927 is 3% below the US average of $959. Inside the state, rents are not uniform — the cheapest 1-bedroom FMR is in Quay County at $742, while the most expensive is in Santa Fe County at $1,390, a spread of roughly 87% between the lowest- and highest-cost counties. That intra-state dispersion is why urban voucher recipients, families relocating for jobs, and landlords setting Section 8 rents all need to check the specific FMR area rather than rely on a statewide figure.

For affordability, the 30% rule implies a household income of $37,080 per year (about $3,090/month) to afford New Mexico's average 1-bedroom at $927. The ratio of FMR to local wages determines how many households are rent-burdened. Pair these rent figures with New Mexico's rent burden rankings and year-over-year rent growth pages to see which counties are tightening fastest and which remain comparatively affordable.

Where New Mexico sits among all 50 states + DC

Average 2-bedroom Fair Market Rent vs. every US state

$1,129 Top 59% higher than 41% of 51 states

$900–$1,000: 11 states (22%). Below this entry. $1,000–$1,100: 7 states (14%). Below this entry. $1,100–$1,200: 8 states (16%). This entry sits in this band. $1,200–$1,300: 2 states (4%). Above this entry. $1,300–$1,400: 3 states (6%). Above this entry. $1,400–$1,500: 8 states (16%). Above this entry. $1,500–$1,600: 3 states (6%). Above this entry. $1,600–$1,700: 1 states (2%). Above this entry. $1,700–$1,800: 1 states (2%). Above this entry. $1,800–$1,900: 1 states (2%). Above this entry. $1,900–$2,000: 1 states (2%). Above this entry. $2,000–$2,100: 1 states (2%). Above this entry. $2,100–$2,200: 1 states (2%). Above this entry. $2,200–$2,300: 2 states (4%). Above this entry. $2,300–$2,400: 0 states (0%). Above this entry. $2,400–$2,500: 1 states (2%). Above this entry. NM $900 $2,500 every US state, bucketed by value

Each bar is a $0.1K-wide band; taller bars hold more states. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.

Source U.S. Department of Housing and Urban Development — Fair Market Rents · FY2026

State Average vs National Average

Studio
$828
-7% vs US avg
1 BR
$927
-3% vs US avg
2 BR
$1,129
-4% vs US avg
3 BR
$1,496
-2% vs US avg
4 BR
$1,758
+0% vs US avg

Most expensive counties in New Mexico by 1-bedroom FMR

FY 2026 HUD Fair Market Rent — the highest-cost 10 of 33 NM counties

1BR FMR / mo

What this shows Inside NM, 1-bedroom FMR runs from $742 in Quay County to $1,390 in Santa Fe County.

Source HUD Fair Market Rents and U.S. Census Bureau ACS data As of FY2026

Cheapest Counties

Lowest FMR rental costs →

Most Expensive Counties

Highest FMR rental costs →

Rent Burden

% of income spent on rent →

Rent Growth

YoY rent trends by county →

Metro areas in New Mexico

Each metro FMR area applies one rent schedule across all its counties, ranked here by 1-bedroom FMR.

# Metro area Studio1 BR2 BR3 BR4 BR
1 Santa Fe, NM MSA $1,259$1,390$1,685$2,122$2,231
2 Albuquerque, NM MSA $1,009$1,185$1,464$2,036$2,399
3 Las Cruces, NM MSA $744$951$1,042$1,449$1,580
4 Farmington, NM MSA $882$885$1,085$1,509$1,630

Counties in New Mexico, ranked by rent (33)

All 33 counties with a published FY2026 Fair Market Rent, highest 1-bedroom first.

# County Studio1 BR2 BR3 BR4 BR
1 Santa Fe County $1,259$1,390$1,685$2,122$2,231
2 Los Alamos County $1,200$1,326$1,740$2,086$2,843
3 Bernalillo County $1,009$1,185$1,464$2,036$2,399
4 Sandoval County $1,009$1,185$1,464$2,036$2,399
5 Torrance County $1,009$1,185$1,464$2,036$2,399
6 Valencia County $1,009$1,185$1,464$2,036$2,399
7 Eddy County $1,035$1,084$1,188$1,619$1,625
8 Taos County $908$1,072$1,279$1,593$2,146
9 Lea County $1,062$1,068$1,324$1,641$1,829
10 Dona Ana County $744$951$1,042$1,449$1,580
11 San Miguel County $783$920$1,008$1,402$1,626
12 McKinley County $752$894$1,090$1,307$1,443
13 Curry County $757$892$1,098$1,425$1,842
14 Colfax County $730$888$973$1,302$1,569
15 Socorro County $723$888$973$1,353$1,569
16 Chaves County $738$887$1,071$1,421$1,562
17 San Juan County $882$885$1,085$1,509$1,630
18 Catron County $773$853$1,040$1,424$1,677
19 Harding County $773$853$1,040$1,424$1,677
20 Cibola County $738$823$993$1,223$1,315
21 Lincoln County $815$820$999$1,305$1,611
22 Grant County $795$801$1,048$1,304$1,388
23 De Baca County $723$798$973$1,167$1,569
24 Hidalgo County $723$798$973$1,353$1,569
25 Mora County $723$798$973$1,332$1,569
26 Otero County $671$792$973$1,353$1,632
27 Guadalupe County $723$791$973$1,332$1,569
28 Luna County $671$783$973$1,280$1,528
29 Roosevelt County $725$772$975$1,356$1,636
30 Union County $723$770$973$1,332$1,569
31 Sierra County $692$765$1,004$1,396$1,619
32 Quay County $723$742$973$1,227$1,569
33 Rio Arriba County $737$742$973$1,199$1,437

Frequently Asked Questions

What is the average rent in New Mexico? ▼
The average FY 2026 Fair Market Rent for a 1-bedroom in New Mexico is $927 per month. A 2-bedroom averages $1,129.
How does New Mexico rent compare to the national average? ▼
New Mexico rents are 3% below the national average. A 1-bedroom here averages $927 vs $959 nationally.
Where is the cheapest rent in New Mexico? ▼
The most affordable county is Quay County with a 1-bedroom FMR of $742. The most expensive is Santa Fe County at $1,390.
What income do I need to afford rent in New Mexico? ▼
Based on the 30% affordability rule, you need at least $37,080/year ($3,090/month) to afford the average 1-bedroom FMR in New Mexico.

Explore New Mexico rent data

Rent burden → Rent growth → Cheapest counties → Most expensive counties → National rent-burden rankings → Affordability calculator →

Read our methodology — how this data is sourced, computed, and verified.

Related

Browse all → | Rankings →
Data sourced from HUD Fair Market Rents and U.S. Census Bureau ACS data. See our methodology for details. Source: U.S. Department of Housing and Urban Development, Fair Market Rent data (huduser.gov).