State rental market reference · Data updated October 18, 2026
New Mexico rental market for DSCR investors: rent, taxes and insurance by county
What a rental in New Mexico rents for, what it costs to carry, and whether it stays rented, from official data for all 33 counties. Read it before you price a deal here.
New Mexico at a glance
What does a rental rent for?
$1,384 a month
HUD's FY2027 2-bedroom Fair Market Rent where most of New Mexico's renters live, from $1,014 (Otero County) to $1,874 (Los Alamos County). It is the government figure for a modest 2-bedroom unit, utilities included, not the rent for a house.
What will property taxes cost?
0.70% of value a year
Homeowners in New Mexico pay a median $1,731 a year on a median home value of $248,100 (Census ACS 2020–2024). A rental can be taxed at a different rate than an owner's home; the local tax bill is the real number.
What will insurance cost?
$1,170 a year
The median that homeowners with a mortgage in New Mexico report paying for homeowners insurance (Census ACS 2020–2024). It is not a landlord quote: a rental policy usually costs more, and flood cover is extra.
Will it stay rented?
5.9% rental vacancy
Share of New Mexico's rental homes vacant and for rent (Census ACS 2020–2024), across 251,477 renter households. Lower means rentals fill faster.
Are jobs growing?
Employment down 2.1% in a year
Employed residents in August 2026 against a year earlier; unemployment 4.9% (BLS, not seasonally adjusted, so compare the same month a year apart).
Is new supply coming?
7,747 homes permitted in 2025
About 9.3 new homes per 1,000 households; 81% single-family (Census Building Permits Survey). More new homes means more competition for tenants and buyers.
How often does it flood?
1,295 flood claims since 2005
National Flood Insurance Program claims on properties in New Mexico since 2005, $39.6 million paid (FEMA). Claims show where water has reached insured buildings; they are not a flood map, so check the FEMA flood zone for the address.
What it means for a DSCR rental in New Mexico
A lender's DSCR is the monthly rent divided by the full monthly payment: principal, interest, property taxes, insurance and any HOA dues. Many lenders accept 1.00x; 1.20x leaves a cushion.
Take a home at New Mexico's median value of $248,100, bought with 25% down on a 7.5% 30-year loan, with the state's typical tax rate and insurance:
- Principal and interest ($186,075 loan)
- $1,301
- Property taxes
- $145
- Insurance
- $98
- Full monthly payment
- $1,543
- Rent for a 1.20x DSCR
- $1,850 a month
The government 2-bedroom figure where most of New Mexico's renters live is $1,384 a month, below the $1,850 that home needs. A house usually rents for more than a 2-bedroom unit, so price the house you are looking at with its own rent. The last column of the table below gives the same figure for each county.
Rules and costs a landlord faces in New Mexico
Each line quotes the official source it comes from and the date it was last checked. These are general rules, not legal advice; local rules can add to them.
- How long before you can file to evict for unpaid rent?
3 calendar days' notice for unpaid rent before an eviction can be filed.
If rent is unpaid when due and the resident fails to pay rent within three days after written notice from the owner of nonpayment and his intention to terminate the rental agreement, the owner may terminate the rental agreement
New Mexico Regulation and Licensing Department (NMSA 1978 § 47-8-33(D), Uniform Owner-Resident Relations Act), checked October 18, 2026
- How fast must the deposit come back?
Within 30 days after the tenancy ends.
the owner shall provide the resident with an itemized written list of the deductions from the deposit and the balance of the deposit, if any, within thirty days of the date of termination of the rental agreement or resident departure, whichever is later.
New Mexico Regulation and Licensing Department (NMSA 1978 § 47-8-18(C), Uniform Owner-Resident Relations Act), checked October 18, 2026
- Is a rental taxed like the owner's home?
A rental does not get the owner's homestead benefit.
This exemption is a two thousand dollars ($2,000) reduction of the taxable value of residential property subject to the tax if it is the owner’s primary residence and the owner is a New Mexico resident. ... Rental Property does not qualify
Sandoval County Office of the Assessor, New Mexico (Head-of-Family Exemption, NMSA 1978 § 7-37-4), checked October 18, 2026
- Where do you insure when private insurers decline?
New Mexico Property Insurance Program.
New Mexico Property Insurance Program—also called the NM FAIR Plan—may be able to help. It is a market of last resort for eligible New Mexico properties. ... Extended coverage perils such as windstorm/hail, explosion, riot/civil commotion
New Mexico Office of Superintendent of Insurance (New Mexico FAIR Plan / NMPIP Consumer Guide), checked October 18, 2026
Market hubs in New Mexico
DSCRInfo does not publish a monthly market hub in New Mexico yet. The figures above and the table below cover every county; the market hubs cover other states.
New Mexico by county
All 33 counties, most renter households first. "Rent for 1.20x" is the monthly rent a home at that county's median value needs on the example loan above. A dash means the source publishes no reliable figure there.
| County | 2-bed FMR | Property tax | Insurance / yr | Rental vacancy | Jobs, 1 yr | Permits | Flood claims | Rent for 1.20x |
|---|---|---|---|---|---|---|---|---|
| Bernalillo County | $1,384 | 0.90% | $1,120 | 5.6% | -2.7% | 1,560 | 80 | $2,220 |
| Doña Ana County | $1,073 | 0.67% | $1,030 | 4.1% | -1.0% | 833 | 150 | $1,640 |
| Santa Fe County | $1,735 | 0.48% | $1,340 | 4.6% | -2.8% | 495 | 46 | $3,160 |
| San Juan County | $1,116 | 0.68% | $1,000 | 5.4% | -1.8% | 80 | 32 | $1,450 |
| Sandoval County | $1,384 | 0.73% | $1,120 | 7.1% | -2.8% | 1,019 | 27 | $2,320 |
| Otero County | $1,014 | 0.55% | $1,100 | 7.9% | -1.4% | 3 | 110 | $1,220 |
| Lea County | $1,327 | 0.48% | $1,630 | 8.9% | -1.2% | 143 | 34 | $1,410 |
| Curry County | $1,151 | 0.59% | $1,570 | 6.5% | -1.7% | 62 | 22 | $1,340 |
| Chaves County | $1,091 | 0.60% | $1,340 | 6.4% | -2.5% | 75 | 115 | $1,210 |
| McKinley County | $1,140 | 2.00% | $890 | 2.3% | -0.9% | 0 | 11 | $740 |
| Eddy County | $1,252 | 0.52% | $1,480 | 7.9% | +0.5% | 241 | 11 | $1,600 |
| Valencia County | $1,384 | 0.62% | $1,230 | 2.7% | -3.0% | 251 | 96 | $1,660 |
| Taos County | $1,292 | 0.29% | $1,390 | 13.0% | -1.9% | 105 | 8 | $2,660 |
| San Miguel County | $1,077 | 0.57% | $1,280 | 5.8% | -0.8% | 0 | 131 | $1,420 |
| Rio Arriba County | $1,014 | 0.42% | $1,190 | 5.2% | -1.9% | – | 16 | $1,750 |
| Roosevelt County | $1,014 | 0.45% | $1,280 | 9.0% | -2.6% | 0 | 17 | $1,040 |
| Grant County | $1,070 | 0.46% | $910 | 8.0% | +2.8% | – | 6 | $1,280 |
| Luna County | $1,014 | 0.54% | $830 | 8.3% | -1.2% | 2 | 2 | $960 |
| Lincoln County | $1,063 | 0.53% | $1,380 | 15.5% | -2.4% | 111 | 251 | $1,730 |
| Los Alamos County | $1,874 | 0.55% | $1,460 | 1.1% | -2.0% | 15 | 2 | $3,540 |
| Cibola County | $1,022 | 0.80% | $840 | 5.7% | +0.1% | – | 22 | $970 |
| Sierra County | $1,014 | 0.52% | $1,120 | 10.0% | -3.1% | – | 9 | $1,150 |
| Colfax County | $1,014 | 0.52% | $1,380 | 6.5% | -1.5% | – | 3 | $1,280 |
| Socorro County | $1,014 | 0.61% | $1,150 | 5.9% | -2.3% | – | 18 | $1,060 |
| Quay County | $1,019 | 0.61% | $890 | 2.1% | -3.5% | – | 3 | $690 |
Show the other 8 counties
| County | 2-bed FMR | Property tax | Insurance / yr | Rental vacancy | Jobs, 1 yr | Permits | Flood claims | Rent for 1.20x |
|---|---|---|---|---|---|---|---|---|
| Torrance County | $1,384 | 0.45% | $1,300 | 0.0% | -2.5% | – | 1 | $1,210 |
| Union County | $1,014 | 0.70% | $1,720 | 11.9% | +0.3% | – | 0 | $1,030 |
| Guadalupe County | $1,014 | 0.48% | $1,260 | 8.5% | +2.5% | – | 0 | $870 |
| Hidalgo County | $1,014 | 0.48% | $1,230 | 26.6% | -4.7% | – | 3 | $870 |
| Mora County | $1,014 | 0.72% | $780 | 6.5% | -1.4% | – | 64 | $940 |
| De Baca County | $1,014 | 0.60% | $1,660 | 4.7% | +6.0% | – | 0 | $1,460 |
| Catron County | $1,059 | 0.36% | $960 | – | -4.0% | – | 5 | $1,210 |
| Harding County | $1,059 | 0.44% | – | – | +0.3% | – | 0 | – |
Where these numbers come from
- 2-bedroom Fair Market Rent
- HUD's FY2027 Fair Market Rents, in effect from October 1, 2026: the rent and utilities of a modest 2-bedroom unit, set for housing vouchers. It is not a house rent. Where HUD publishes by town (New England), the county shows the range. HUD Fair Market Rents
- Property tax, insurance, vacancy and home value
- Census American Community Survey 5-year estimates, 2020–2024. Property tax is the median tax paid divided by the median home value of owner-occupied homes. Insurance is the median that owners with a mortgage report paying, not a landlord quote. Rental vacancy is homes vacant for rent divided by all rental homes. Figures from too few homes are left blank. American Community Survey
- Jobs
- BLS Local Area Unemployment Statistics: employed residents in August 2026 against the same month a year earlier, not seasonally adjusted. BLS LAUS
- Permits
- Census Building Permits Survey: new housing units authorized in 2025, all building sizes. Building Permits Survey
- Flood claims
- FEMA National Flood Insurance Program claims with a loss in 2005 or later, and the net amount paid. Only insured buildings appear. Check a flood zone
These are screening figures for comparing places, not a quote, an appraisal or a loan offer. New Mexico total flood payments since 2005: $39.6 million.