Looking for a rental in New Mexico for $1,400 per month? Discover what you can get for your budget in nine popular areas throughout the state.
If you’re thinking about moving to New Mexico or are already living here and considering relocating to another city within the state, you may be wondering how much you should budget for rent and what, exactly, you’ll get for your money.
According to Rent Cafe, the average monthly rent in New Mexico is $1,419 at the time of writing. Zillow lists the average a bit higher, at $1,696 per month. We did our own research and found plenty of units available to renters with a $1,400-per-month budget, though the exact cost, size, and amenities vary from city to city.
(Keep in mind that many landlords follow a 3x rent rule requiring your gross monthly income to be at least three times the monthly rent, or $4,200 for a $1,400-per-month rental.)
Albuquerque
Albuquerque offers an excellent balance of affordability and amenities. Whether you’re looking for a vibrant restaurant scene, outdoor recreation, cultural events, or job opportunities, New Mexico’s largest city delivers a little bit of everything without the price tag you’ll find in some other major cities.
With average monthly rents around $1,510 across all property types and roughly $1,100 for a one-bedroom apartment, a $1,400 budget stretches comfortably here. Most renters can choose between a spacious one-bedroom or a modest two-bedroom apartment. While some of the larger units may feature older finishes, many communities offer perks like swimming pools and fitness centers that are harder to find at this price point elsewhere in the state.
Carlsbad
Carlsbad is probably best known for Carlsbad Caverns National Park, but the city’s identity is also heavily impacted by its booming energy sector. This industrial strength fuels a rapidly growing population, creating a highly competitive, fast-moving housing market where rentals and homes are in high demand.
This means prices skew higher than in Albuquerque: average rents sit around $1,600 per month across all property types. But with a $1,400 monthly budget, renters can still afford a one-bedroom apartment, which averages about $1,300 per month. However, at the time of writing, online inventory was pretty limited.
The competitive market and limited inventory also mean that luxury amenities are less common at a $1,400-per-month price point, but most available units offer solid living space and practical layouts.
Farmington
Nestled in the Four Corners region, Farmington offers easy access to some of the best outdoor recreation in the state and in neighboring Utah, Arizona, and Colorado. Fishing, hiking, mountain biking, and weekend trips to nearby national parks are all part of everyday life here.
Despite its prime location, the rental market remains relatively affordable, with average rents around $1,200 overall and approximately $950 for a one-bedroom apartment. At $1,400 per month, you have considerable flexibility and can often move up to a larger two-bedroom apartment without stretching your budget.
Las Cruces
If you’re looking for sunshine, mountain views, and a slower pace of life, Las Cruces is hard to beat. Home to New Mexico State University, the city blends college-town energy with a relaxed atmosphere, a growing arts scene, and easy access to hiking, biking, and other outdoor adventures.
For renters, it’s also one of the best values in New Mexico. With average rents around $1,500 across all property types and just $875 for a one-bedroom apartment, a $1,400 budget goes a long way. We found plenty of two-bedroom rentals with one or two bathrooms ranging from roughly 600 to 1,400 square feet, and even a handful of three-bedroom homes priced below budget.
Here, a multi-bedroom unit within a standard high-end complex with amenities like a pool, gym, or in-unit laundry isn’t out of reach with a $1,400 monthly budget.
Los Alamos
Los Alamos offers some of the highest salaries, strongest schools, and lowest crime rates in New Mexico, thanks in large part to the presence of the Los Alamos National Laboratory. The tradeoff is one of the tightest housing markets in the state.
With average rents around $2,600 across all property types and $2000 for a one-bedroom apartment, a $1,400 budget falls well below market rates. Rental inventory is extremely limited, and most available options at this price point are small studios, room rentals, or shared housing arrangements. Many renters working in Los Alamos choose to live in nearby communities such as White Rock or Española, where housing is generally more attainable.
Rio Rancho
Over the last few decades, Rio Rancho has grown from a commuter community into one of New Mexico’s most desirable suburbs. Families are drawn to its highly rated schools, newer neighborhoods, and quieter atmosphere, while Albuquerque’s employers, restaurants, and entertainment options remain just a short drive away.
However, that popularity comes with higher housing costs. Average rents sit at $2,200 across all property types, though studios and one-bedroom apartments remain relatively affordable, averaging about $1,148 and $1,306 per month, respectively.
Renters with a $1,400 budget can still find some two-bedroom apartments, typically in the 800- to 900-square-foot range, but many have older finishes and fewer extras. Compared to nearby Albuquerque, amenities like pools and fitness centers are less common at this price point.
Roswell
Most people outside New Mexico know Roswell for its famous UFO lore, but residents know it as an affordable city with a laid-back pace of life and a surprisingly strong sense of community. If you’re looking for lower housing costs and don’t need big-city amenities, Roswell offers plenty of value.
With average rents around $1,300 across all property types and roughly $1,100 for a one-bedroom apartment, a $1,400 budget puts you in a strong position. During our research, we found numerous two-bedroom apartments and three-bedroom homes approaching 1,400 square feet. If space is a priority, few cities in New Mexico offer more for your money.
Santa Fe
Beyond serving as New Mexico’s capital, Santa Fe is the heart of the state’s arts and culture scene, with world-class galleries, historic adobe architecture, excellent restaurants, and tons of festivals and events scheduled throughout the year. The downside of having so much to offer residents is that housing costs in Santa Fe are among the highest in New Mexico.
With average rents hovering around $2,400 per month across all property types and about $1,800 for a one-bedroom apartment, a $1,400 monthly budget requires some flexibility. Most renters in this price range will be looking at studios or smaller one-bedroom apartments, typically between 400 and 700 square feet. While luxury finishes aren’t the norm, it’s still possible to find updated kitchens, newer appliances, or charming historic details if you’re willing to sacrifice a little square footage.
Silver City
Silver City has a historic downtown, vibrant arts community, local galleries, and easy access to the Gila Wilderness. But all these attractions create high demand.
While average rents in Silver City are generally affordable ($1,700 according to Zillow’s data, but Apartments.com lists it at only $804), there weren’t many rentals available at the time of writing. During our research, we found mostly single-family homes ranging from about 650 to 1,680 square feet rather than large apartment communities.
Renters with a $1,400 budget may find charming older homes with plenty of character, but patience is often required for the right property to come on the market.
