Rental Markets in New Mexico

DoorBase tracks rental market data across New Mexico by ZIP code. This state page is a crawlable index for investors comparing rents, cap-rate estimates, vacancy, demographics, home values, renter share, household income, and employment conditions before drilling into individual ZIP pages.

New Mexico Rental Market Overview

The current sample of indexable New Mexico ZIP markets shows average median rent of $1,332, average median home value of $320,161, average cap-rate high of 4.3%, average vacancy of 12.8%, renter ratio near 28.2%, and median household income around $63,748. These statewide figures are directional and should be used to compare markets before reviewing a specific ZIP code.

New Mexico is not one rental market. Large cities, inner suburbs, commuter towns, college markets, rural counties, resort areas, and industrial corridors can produce very different rent levels and ownership economics. DoorBase keeps the canonical content at the ZIP level so investors can move from a broad state view into the most precise local data available.

Featured New Mexico ZIP Markets

ZIP	City	Rent	Cap Rate	Vacancy	Population
87121	Albuquerque	$1,650	3.3-4.9%	3.3%	76,135
87114	Albuquerque	$1,752	2.6-4.2%	2.1%	70,064
87120	Albuquerque	$1,665	2.5-4.1%	4.5%	65,477
87124	Rio Rancho	$1,715	2.7-4.3%	3.9%	58,402
87111	Albuquerque	$1,486	1.7-3.3%	3.6%	57,219
87105	Albuquerque	$1,288	2.5-4.1%	7.1%	54,215
87507	Santa Fe	$1,904	2.2-3.8%	4.7%	51,109
87144	Rio Rancho	$2,255	3.6-5.2%	3.3%	49,976
87031	Los Lunas	$2,071	3.7-5.3%	10.2%	46,211
88101	Clovis	$1,271	4.7-6.3%	13%	45,157
87401	Farmington	$1,245	2.4-4%	11.2%	45,020
87123	Albuquerque	$1,190	1.7-3.3%	5.6%	43,515
87112	Albuquerque	$1,425	2.4-4%	4.5%	42,523
88240	Hobbs	$1,350	4.1-5.7%	11.2%	41,612
88220	Carlsbad	$1,658	3.9-5.5%	12.2%	40,151
87110	Albuquerque	$1,491	2.5-4.1%	6.6%	40,142
87109	Albuquerque	$1,402	1.9-3.5%	7.5%	39,323
88001	Las Cruces	$933	2.5-4.1%	7.8%	38,972
88310	Alamogordo	$1,560	4.3-5.9%	15.5%	36,737
87108	Albuquerque	$970	1.6-3.2%	9.5%	35,985
88012	Las Cruces	$1,791	3.6-5.2%	8.2%	32,888
87505	Santa Fe	$1,794	1.5-3.1%	12.7%	32,189
88011	Las Cruces	$1,495	2.2-3.8%	8%	31,143
88203	Roswell	$1,296	5.7-7.3%	12%	28,637
88201	Roswell	$1,286	3.2-4.8%	11.2%	27,715
88005	Las Cruces	$1,209	2.3-3.9%	7.2%	27,017
87107	Albuquerque	$1,232	1.7-3.3%	7.4%	26,993
87106	Albuquerque	$1,340	1.8-3.4%	10.9%	26,815
88007	Las Cruces	$1,536	2.6-4.2%	7.2%	25,750
88030	Deming	$712	2.4-4%	20%	24,270
87301	Gallup	$858	2-3.6%	7.7%	21,981
87002	Belen	$1,100	2.1-3.7%	16%	21,375
87102	Albuquerque	$1,146	2.5-4.1%	10.7%	20,258
87532	Espanola	$887	1-2.6%	16.8%	19,522
87122	Albuquerque	$2,156	1.3-2.9%	2.5%	18,776
87508	Santa Fe	$3,100	2.6-4.2%	4.2%	18,745
88210	Artesia	$1,600	3.8-5.4%	12.7%	18,542
88130	Portales	$1,014	4.1-5.7%	15%	17,865
87701	Las Vegas	$756	1.5-3.1%	16.8%	17,864
88061	Silver City	$1,400	3.7-5.3%	21.1%	17,546
87113	Albuquerque	$2,072	2.7-4.3%	3.4%	16,369
88021	Anthony	$605	1-2.6%	6.5%	16,102
87506	Santa Fe	$2,384	0.7-2.3%	13.5%	16,055
88260	Lovington	$1,081	3.2-4.8%	14.9%	15,410
87501	Santa Fe	$2,435	1.6-3.2%	18.1%	15,409
87413	Bloomfield	$898	1.6-3.2%	13%	14,966
87015	Edgewood	$2,200	3.4-5%	8%	14,476
87410	Aztec	$1,613	3.3-4.9%	14%	14,372
87544	Los Alamos	$2,479	2.3-3.9%	3.2%	13,806
87104	Albuquerque	$1,682	2.6-4.2%	10.4%	13,369
87571	Taos	$2,100	2.7-4.3%	26.6%	12,544
87020	Grants	$741	2.5-4.1%	15.2%	11,874
88008	Santa Teresa	$1,722	3.2-4.8%	4.3%	11,776
88063	Sunland Park	$763	1.4-3%	10%	11,282
87004	Bernalillo	$1,066	1.4-3%	6.8%	11,274
87420	Shiprock	$693	4.1-5.7%	19.7%	11,048
87402	Farmington	$1,100	1.5-3.1%	8.1%	10,997
87059	Tijeras	$1,218	1.2-2.8%	7.4%	10,012
87801	Socorro	$676	1.6-3.2%	28.8%	9,309
87048	Corrales	$1,184	0.4-2%	9.7%	9,173

Notable ZIP Markets in This Sample

The highest estimated cap-rate band in this sample tops out at 16.1% in ZIP 87311 (Church Rock).

The lowest vacancy in this sample is 2.1% in ZIP 87114 (Albuquerque).

The highest median rent in this sample is $3,100 in ZIP 87508 (Santa Fe).

The highest median household income in this sample is $161,299 in ZIP 87122 (Albuquerque).

Rental Markets by City

Albuquerque

Albuquerque has 16 ZIP codes in this sample. Median rents range from $970 to $2,156. Estimated cap-rate bands reach up to 4.9% at the high end. Vacancy averages 6.2%. See ZIP 87121 for the full market profile.

Las Cruces

Las Cruces has 5 ZIP codes in this sample. Median rents range from $933 to $1,791. Estimated cap-rate bands reach up to 5.2% at the high end. Vacancy averages 7.7%. See ZIP 88001 for the full market profile.

Santa Fe

Santa Fe has 5 ZIP codes in this sample. Median rents range from $1,794 to $3,100. Estimated cap-rate bands reach up to 4.2% at the high end. Vacancy averages 10.6%. See ZIP 87507 for the full market profile.

Rio Rancho

Rio Rancho has 2 ZIP codes in this sample. Median rents range from $1,715 to $2,255. Estimated cap-rate bands reach up to 5.2% at the high end. Vacancy averages 3.6%. See ZIP 87124 for the full market profile.

Roswell

Roswell has 2 ZIP codes in this sample. Median rents range from $1,286 to $1,296. Estimated cap-rate bands reach up to 7.3% at the high end. Vacancy averages 11.6%. See ZIP 88203 for the full market profile.

Farmington

Farmington has 2 ZIP codes in this sample. Median rents range from $1,100 to $1,245. Estimated cap-rate bands reach up to 4.0% at the high end. Vacancy averages 9.6%. See ZIP 87401 for the full market profile.

Hobbs

Hobbs has 2 ZIP codes in this sample. Median rents range from $1,290 to $1,350. Estimated cap-rate bands reach up to 5.7% at the high end. Vacancy averages 9.8%. See ZIP 88240 for the full market profile.

Los Lunas

Los Lunas has 1 ZIP code in this sample. Sample median rent is $2,071. Estimated cap-rate bands reach up to 5.3% at the high end. Vacancy averages 10.2%. See ZIP 87031 for the full market profile.

Clovis

Clovis has 1 ZIP code in this sample. Sample median rent is $1,271. Estimated cap-rate bands reach up to 6.3% at the high end. Vacancy averages 13.0%. See ZIP 88101 for the full market profile.

Carlsbad

Carlsbad has 1 ZIP code in this sample. Sample median rent is $1,658. Estimated cap-rate bands reach up to 5.5% at the high end. Vacancy averages 12.2%. See ZIP 88220 for the full market profile.

Alamogordo

Alamogordo has 1 ZIP code in this sample. Sample median rent is $1,560. Estimated cap-rate bands reach up to 5.9% at the high end. Vacancy averages 15.5%. See ZIP 88310 for the full market profile.

Deming

Deming has 1 ZIP code in this sample. Sample median rent is $712. Estimated cap-rate bands reach up to 4.0% at the high end. Vacancy averages 20.0%. See ZIP 88030 for the full market profile.

How to Use the New Mexico Directory

Start with the state page to understand the range of rental markets, then open individual ZIP pages for the numbers that matter most to underwriting. A state average can hide important local differences. One ZIP may have stronger rent growth and lower vacancy while a nearby ZIP has better purchase prices but weaker renter demand.

The most useful investor workflow is to compare rent, cap rate, vacancy, home value, renter ratio, household income, population growth, unemployment, and job growth together. No single number is enough. A high cap-rate estimate can be offset by weak income, high vacancy, or limited tenant demand. A lower cap-rate estimate can still make sense if the market has strong income, job growth, and durable renter demand.

State Coverage and Internal Links

This page links into the canonical ZIP URL structure, such as /rentals/nm/30318, without bringing back city parent pages. That structure keeps DoorBase clean for search engines: state pages organize the directory, ZIP pages hold the canonical data, and future market guides can exist separately as heavier editorial SEO hubs.

DoorBase currently tracks 80 sampled ZIP markets across 53 New Mexico cities in this crawlable state summary. The live React page may show a broader interactive directory after JavaScript loads, while this fallback body ensures crawlers receive meaningful text and links immediately.