Ranked from ACS 2023 5-Year
Counties Where Renting Costs Far Less Than Owning in New Mexico
The widest gaps between median rent and the full monthly cost of owning the median home. A large gap does not automatically mean renting is the better decision, because rent buys no equity and is not fixed for thirty years, but it does show where the market prices ownership at a steep premium.
New Mexico ranked
| # | County | Monthly saved by renting | Median rent | Monthly to own |
|---|---|---|---|---|
| 1 | Los Alamos County | $2,072 | $1,308 | $3,380 |
| 2 | Santa Fe County | $1,787 | $1,318 | $3,105 |
| 3 | Taos County | $1,541 | $1,069 | $2,610 |
| 4 | Bernalillo County | $1,073 | $1,087 | $2,160 |
| 5 | Rio Arriba County | $1,023 | $760 | $1,783 |
| 6 | Sandoval County | $810 | $1,408 | $2,218 |
| 7 | Lincoln County | $788 | $883 | $1,671 |
| 8 | Doña Ana County | $745 | $903 | $1,648 |
| 9 | Valencia County | $684 | $970 | $1,654 |
| 10 | San Miguel County | $656 | $774 | $1,430 |
| 11 | Catron County | $617 | $740 | $1,357 |
| 12 | Colfax County | $611 | $704 | $1,315 |
| 13 | San Juan County | $584 | $917 | $1,501 |
| 14 | De Baca County | $556 | $727 | $1,283 |
| 15 | Socorro County | $533 | $653 | $1,186 |
| 16 | Grant County | $513 | $810 | $1,323 |
| 17 | Sierra County | $502 | $695 | $1,197 |
| 18 | Union County | $486 | $650 | $1,136 |
| 19 | Guadalupe County | $414 | $515 | $929 |
| 20 | Eddy County | $391 | $1,183 | $1,574 |
| 21 | Chaves County | $349 | $838 | $1,187 |
| 22 | Torrance County | $344 | $845 | $1,189 |
| 23 | Cibola County | $324 | $724 | $1,048 |
| 24 | Curry County | $324 | $987 | $1,311 |
| 25 | Otero County | $306 | $926 | $1,232 |
| 26 | Lea County | $286 | $1,119 | $1,405 |
| 27 | Luna County | $286 | $685 | $971 |
| 28 | Roosevelt County | $259 | $863 | $1,122 |
| 29 | Mora County | $234 | $785 | $1,019 |
| 30 | Hidalgo County | $168 | $803 | $971 |
| 31 | Harding County | $72 | $700 | $772 |
| 32 | Quay County | $7 | $752 | $759 |
| 33 | McKinley County | $-47 | $810 | $763 |
Every figure is modelled on the county's own median home with 20% down at 7.03%. Property tax and electricity are county and state specific; homeowners insurance uses the NAIC average premium for that state, which ranges from 0.16% of home value in Hawaii to 1.16% in Oklahoma. Maintenance and water are national estimates. Full methodology.
Nationwide
Counties Where Renting Costs Far Less Than Owning across all 3,133 US counties · Every county in New Mexico