MarketsRun a deal in this market
State · NM
New Mexico
Data as of November 2024· Sources: Zillow ZHVI/ZORI, Census ACS
Strategy
Median home value
$302k
+3.0%Zillow ZHVI
Median rent
$1,450/mo
+4.3%Zillow ZORI
Gross yield
5.76%
Rent × 12 / value
Rent/price ratio
0.000%
1% rule benchmark
Median household income
$58,722
Census ACS
Owner-occupied
67.5%
Census ACS
Renter-occupied
32.5%
Census ACS
Population
-
Census ACS
What this means for LTR investors
Gross yield of 5.76% is below the 7% LTR sweet spot; you'd lean on appreciation here.
Rent grew 4.3% YoY while values moved 3.0%. That gap drives whether yield compresses or expands over time.
Renter share is 33% - a deep renter pool means lower vacancy risk in New Mexico.
Median income of $58,722 sets the affordability ceiling on rent growth.