Best places to buy rental properties in New Mexico

February 23, 2022
● Written by
Teddy

New Mexico

Investing in New Mexico

If you're considering in investing in New Mexico, be sure to check out this guide. New Mexico boasts a diverse art scene and a highly educated population, making the state a desirable place to rent. The Nophin team crunched the numbers and found the five best places to invest in New Mexico rental properties.

Statewide vacancy rates

NM Rental Vacancy Rate via Federal Reserve Bank of St. Louis

Albuquerque, NM

Albuquerque is the largest city in New Mexico and a great place to buy rental properties. The city is famous for its annual hot air balloon festival.

  • Population: 564,559
  • Median household income: $53,936
  • Median 1-bedroom monthly rent: $915
  • Median listing home price: $330,000

Santa Fe, NM

Santa Fe is the oldest capital city in the US and has been designated as a UNESCO Creative City.

  • Population: 87,505
  • Median household income: $57,274
  • Median 1-bedroom monthly rent: $1,775
  • Median listing home price: $695,000

Las Cruces, NM

Las Cruces, located in Southern New Mexico, has a huge Mexican influence and beautiful scenery. The Organ Mountain and White Sands National Monument are all within driving distance.

  • Population: 111,385
  • Median household income: $45,140
  • Median 1-bedroom monthly rent: $950
  • Median listing home price: $289,000

Roswell, NM

Roswell is a unique city well known for its alien and UFO themed exhibits and businesses.

  • Population: 48,422
  • Median household income: $45,493
  • Median 1-bedroom monthly rent: $625
  • Median listing home price: $218,000

Rio Rancho, NM

Rio Rancho is the third largest city in New Mexico. The city is a huge hub for semiconductors as Intel is one of the largest employers in the region.

  • Population: 104,046
  • Median household income: $66,733
  • Median 1-bedroom monthly rent: $923
  • Median listing home price: $365,300

Nophin is landlord banking and software for rental properties

With FDIC-insured bank accounts and cards that seamlessly integrate with easy-to-use software, Nophin helps landlords increase returns and automate rental property finances. Check out what we offer on the Nophin homepage!

Methodology

To help us determine the five best cities in all states, the Nophin team used data from several sources including the 2020 United States Census, the Department of Housing & Urban Development, Federal Reserve Economic Data (FRED), the National Association of REALTORS®, Zumper, internal data, and other reputable sources.

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Please note: Nothing above should be construed as legal, investment, tax, nor financial advice. This content is for informational purposes only. Consult a lawyer and/or an accountant if the above is right for your personal situation.

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