2024 · New Mexico
Rental yield in New Mexico
In 2024, the typical rental in New Mexico produced a gross yield of 4.8% — $1,117/mo median rent against a $280K median home value, ranking 24th of 51 states.
4.8%
Gross rental yield
below the 4.9% U.S. median
$1,117/mo
Median gross rent
incl. utilities (ACS)
$280K
Median home value
owner-occupied (ACS)
New Mexico metros by yield
Metropolitan areas in New Mexico with at least 65,000 residents, ranked by gross rental yield.
| Metro | Gross yield | Median rent | Median value |
|---|---|---|---|
| Farmington, NM | 5.4% | $946/mo | $210K |
| Las Cruces, NM | 4.8% | $1,031/mo | $259K |
| Albuquerque, NM | 4.5% | $1,220/mo | $323K |
| Santa Fe, NM | 4.0% | $1,586/mo | $474K |
Frequently asked questions
What is the gross rental yield in New Mexico?
In 2024, New Mexico had a gross rental yield of 4.8% — $1,117/mo median gross rent against a $280K median home value. That ranks 24th of 51 states (1 = highest yield). Nationally the figure was 4.9%.
Which New Mexico metros have the best rental yield?
Among New Mexico metros covered by the data, gross yield was highest in Farmington, NM (5.4%), Las Cruces, NM (4.8%), and Albuquerque, NM (4.5%).
Does this account for expenses or financing?
No. Gross yield is a top-line market screen — it excludes property taxes, insurance, vacancy, management, and financing. Use it to compare markets, then run a specific deal through a cap-rate or cash-flow calculator.
How investors finance deals in New Mexico
Yield shows where the numbers work; our Investor Financing Report for New Mexico shows the rate premium, denial rate, and DSCR lending investors face there.
Run a New Mexico deal
Source: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Gross rental yield = (median gross rent × 12) ÷ median home value. A market screen, not a net return.