Which New Mexico county has the highest rent-to-price ratio?

McKinley County, at 1.45%: a 2-bedroom rent of $1,140 against a median home value of $78,700. It's a rough comparison, and a high ratio can come with slower growth or weaker demand, so check the other columns too.

Where have New Mexico home prices grown fastest?

Valencia County, at an average of +10.5% a year over five years, on the FHFA House Price Index. Past growth doesn't predict future growth.

Where is the New Mexico population growing fastest?

Sandoval County, at +1.5% a year, comparing two Census releases five years apart. These are estimates, and they're less exact for small places.

How does New Mexico compare with the rest of the US?

Among counties of 50,000 people or more, the median rent-to-price is 0.59% in New Mexico and 0.52% nationwide. The ratio is the 2-bedroom rent as a percent of the median home value.

Are home prices going up in New Mexico?

Home prices in New Mexico rose 43% over the 5 years to Q2 2026. In the latest year (to Q2 2026) they rose 2%. These figures come from the FHFA House Price Index for New Mexico (state level), which tracks repeat sales and refinance appraisals of the same homes. It shows the trend for the area, not what any one home is worth.

New Mexico real estate markets

Compare 25 New Mexico counties by rent, home prices and property tax, using public government data. Among counties of 50,000 people or more, the median rent-to-price is 0.59% in New Mexico and 0.52% nationwide.

Where the numbers stand out

Highest rent-to-price: 1.45%; McKinley County
Fastest price growth, 5-yr average: +10.5% a year; Valencia County
Lowest property tax: 0.29%; Taos County
Lowest median home value: $78,700; McKinley County
Fastest population growth: +1.5% a year; Sandoval County
Lowest unemployment: 1.8%; Los Alamos County

25 counties · Swipe the table to see every column

US counties ranked by the column you choose. Column headers sort the table.
Market
McKinley County, NMGallup rents · Run a deal	1.45%	+5.0%	+6.7%	$78,700	$1,140	2.00%	70,431
Torrance County, NMNew Mexico rents · Run a deal	0.87%	-2.5%	+8.2%	$159,700	$1,384	0.45%	15,490
Cibola County, NMNew Mexico rents · Run a deal	0.81%	+14.3%	+9.2%	$125,400	$1,022	0.80%	26,845
Luna County, NMDeming rents · Run a deal	0.79%	-1.9%	+9.6%	$128,000	$1,014	0.54%	25,611
Roosevelt County, NMNew Mexico rents · Run a deal	0.75%	+5.8%	+6.1%	$135,800	$1,014	0.45%	18,928
Socorro County, NMNew Mexico rents · Run a deal	0.74%	-10.1%	+7.2%	$137,500	$1,014	0.61%	16,200
Lea County, NMHobbs rents · Run a deal	0.72%	+6.2%	+5.6%	$184,000	$1,327	0.48%	73,733
Chaves County, NMRoswell rents · Run a deal	0.70%	+3.5%	+6.3%	$156,400	$1,091	0.60%	64,217
Curry County, NMClovis rents · Run a deal	0.67%	+2.7%	+6.1%	$171,200	$1,151	0.59%	47,638
Sierra County, NMNew Mexico rents · Run a deal	0.66%	+8.3%	+10.0%	$152,600	$1,014	0.52%	11,500
Valencia County, NMNew Mexico rents · Run a deal	0.62%	+4.8%	+10.5%	$223,000	$1,384	0.62%	78,458
Otero County, NMAlamogordo rents · Run a deal	0.62%	+7.9%	+9.6%	$162,700	$1,014	0.55%	68,816
Grant County, NMSilver City rents · Run a deal	0.61%	+2.4%	+9.4%	$175,600	$1,070	0.46%	27,775
Colfax County, NMNew Mexico rents · Run a deal	0.61%	-1.4%	+7.7%	$167,200	$1,014	0.52%	12,322
Eddy County, NMCarlsbad rents · Run a deal	0.59%	+5.4%	+4.9%	$212,600	$1,252	0.52%	61,105
San Juan County, NMFarmington rents · Run a deal	0.58%	+6.2%	+8.6%	$193,800	$1,116	0.68%	120,942
San Miguel County, NMNew Mexico rents · Run a deal	0.57%	+14.9%	+10.0%	$188,500	$1,077	0.57%	26,850
Doña Ana County, NMLas Cruces rents · Run a deal	0.49%	+1.9%	+8.6%	$220,800	$1,073	0.67%	224,266
Bernalillo County, NMAlbuquerque rents · Run a deal	0.47%	+2.9%	+8.9%	$292,900	$1,384	0.90%	673,930
Lincoln County, NMRuidoso rents · Run a deal	0.46%	-1.5%	+8.9%	$233,200	$1,063	0.53%	20,224
Sandoval County, NMRio Rancho rents · Run a deal	0.44%	+2.0%	+9.4%	$313,800	$1,384	0.73%	153,604
Rio Arriba County, NMNew Mexico rents · Run a deal	0.42%	+2.6%	+9.4%	$243,700	$1,014	0.42%	40,070
Santa Fe County, NMSanta Fe rents · Run a deal	0.39%	+0.8%	+8.2%	$446,300	$1,735	0.48%	156,105
Los Alamos County, NMNew Mexico rents · Run a deal	0.38%	-2.9%	+9.1%	$495,800	$1,874	0.55%	19,435
Taos County, NMNew Mexico rents · Run a deal	0.34%	+0.1%	+9.1%	$382,800	$1,292	0.29%	34,543

Home prices

Home prices in New Mexico rose 43% over the 5 years to Q2 2026.

1 year: +2%
5 years: +43%
10 years: +88%

From the FHFA House Price Index for New Mexico (state level), updated Mar 31, 2026. It tracks repeat sales and refinance appraisals of the same homes, so it shows the area's trend, not what any one home is worth. See what local prices suggest your rental is worth.

Keep looking

How to read this

Use this to shortlist, not to decide. These are county-wide figures, and a single county can hold very different neighborhoods. Check a real deal with the rental cash flow calculator.

Rent-to-price is the 2-bedroom rent as a percent of the median home value. It's a rough comparison between counties. The two figures describe different homes, and the home value lags current prices, so it can look better than today's market in places where prices rose quickly.

2-bed rent is HUD's Fair Market Rent (fiscal year from Oct 1, 2026): the 40th percentile for recent movers, including utilities. HUD often uses one figure across a whole metro area, so neighboring counties can match.

Home value and population are Census American Community Survey 5-year estimates through 2024. Home values are what owners report. Counties under 10,000 people aren't listed.

Prices are the FHFA House Price Index through 2025: the latest year's change, and the average yearly change over five years. FHFA calls its county index developmental, and it doesn't cover every county.

Property tax is median taxes paid divided by median home value, from the Census. It reflects what current owners pay. An investor buying today can pay more where assessments are capped for homeowners, as in Florida and California.

People and jobs: income, vacant homes (seasonal homes count as vacant, which can look high in vacation areas) and renters are Census 5-year estimates. Population growth compares two Census releases five years apart. Rent ÷ income is a year of the 2-bedroom rent as a percent of median household income. Unemployment is the Bureau of Labor Statistics yearly average for 2025.

See all data sources

Frequently asked questions

Which New Mexico county has the highest rent-to-price ratio?: McKinley County, at 1.45%: a 2-bedroom rent of $1,140 against a median home value of $78,700. It's a rough comparison, and a high ratio can come with slower growth or weaker demand, so check the other columns too.
Where have New Mexico home prices grown fastest?: Valencia County, at an average of +10.5% a year over five years, on the FHFA House Price Index. Past growth doesn't predict future growth.
Which New Mexico county has the lowest property tax?: Taos County, at about 0.29% of home value, based on what current owners pay. An investor buying today can pay more where assessments are capped for homeowners.
Where is the New Mexico population growing fastest?: Sandoval County, at +1.5% a year, comparing two Census releases five years apart. These are estimates, and they're less exact for small places.
How does New Mexico compare with the rest of the US?: Among counties of 50,000 people or more, the median rent-to-price is 0.59% in New Mexico and 0.52% nationwide. The ratio is the 2-bedroom rent as a percent of the median home value.
Are home prices going up in New Mexico?: Home prices in New Mexico rose 43% over the 5 years to Q2 2026. In the latest year (to Q2 2026) they rose 2%. These figures come from the FHFA House Price Index for New Mexico (state level), which tracks repeat sales and refinance appraisals of the same homes. It shows the trend for the area, not what any one home is worth.