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
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 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
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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.