Skip to main content

New Mexico Rent vs Buy Calculator โ€” Updated 2026

State abbreviation: NM

In New Mexico, the median home price is $345,000, and property taxes are 0.8% annually. Homeowners insurance averages $1440/year. Use this calculator to compare the long-term costs of renting versus buying given New Mexico's specific market conditions and tax environment.

New Mexico Financial Data (2026)

State Tax Rate
4.9%
Property Tax Rate
0.8%
Median Home Price
$345,000
Avg Insurance Cost
$1,440/year
Cost of Living Index
93
State Abbreviation
NM