Rent vs Buy in New Mexico
Compare 8 cities across New Mexico. Find out whether renting or buying makes more financial sense in your area.
8cities analyzed
Avg Home:$299,375
Avg Rent:$1,288/mo
Avg Price/Rent:19.4
New Mexico Housing Market Summary
8
Cities Analyzed
0
Favor Buying
0
Favor Renting
8
Toss-Up
Across New Mexico's 8 analyzed cities, the results are mixed with no clear winner statewide. Your decision depends heavily on which city you're considering.
The average home price in New Mexico is $299,375, with average rents at $1,288/month. This gives an average price-to-rent ratio of 19.4.
$Most Affordable Cities
$$Most Expensive Cities
All New Mexico Cities
Sorted by population. Click any city for detailed analysis.
| City | Median Price | Median Rent | Price/Rent | Break-even | Verdict |
|---|---|---|---|---|---|
| Albuquerque | $300,000 | $1,350 | 18.5 | 6 yrs | Toss-up |
| Las Cruces | $290,000 | $1,200 | 20.1 | 6 yrs | Toss-up |
| Rio Rancho | $335,000 | $1,300 | 21.5 | 7 yrs | Toss-up |
| Santa Fe | $280,000 | $1,200 | 19.4 | 9 yrs | Toss-up |
| Farmington | $300,000 | $1,300 | 19.2 | 8 yrs | Toss-up |
| Hobbs | $305,000 | $1,400 | 18.2 | 6 yrs | Toss-up |
| Clovis | $295,000 | $1,300 | 18.9 | 9 yrs | Toss-up |
| Alamogordo | $290,000 | $1,250 | 19.3 | 9 yrs | Toss-up |
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These are general analyses based on median values. Use our comprehensive Buy vs Rent calculator to input your specific income, savings, and financial goals.
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