Cheapest places to live in New Mexico
By Sol Lakein, founder of Slower Sundays. Updated November 2026.
- RoswellLowest home values$152,600 median
- RoswellLowest rent$876 a month
- 11Places ranked20,000+ residents
The 3 cheapest in New Mexico
- #1
Roswell
- Home value
- $152,600
- Rent
- $876
- Growth
- -3.2%
- #2
Clovis
- Home value
- $169,400
- Rent
- $988
- Growth
- -3.6%
- #3
Alamogordo
- Home value
- $172,900
- Rent
- $902
- Growth
- +3.2%
The 15 cheapest places to live in New Mexico
| # | Place | Median home value | Median rent | Commute | Growth since 2020 |
|---|---|---|---|---|---|
| 1 | Roswell | $152,600 | $876 | 18.2 min | -3.2% |
| 2 | Clovis | $169,400 | $988 | 16.4 min | -3.6% |
| 3 | Alamogordo | $172,900 | $902 | 17.9 min | +3.2% |
| 4 | Hobbs | $191,300 | $1,112 | 23.8 min | +0.9% |
| 5 | Carlsbad | $200,000 | $1,236 | 22.3 min | +1.1% |
| 6 | Las Cruces | $231,700 | $974 | 18.9 min | +5.0% |
| 7 | Farmington | $233,000 | $1,037 | 19.5 min | -1.2% |
| 8 | Los Lunas | $262,900 | $1,110 | 25.8 min | +18.3% |
| 9 | Albuquerque | $291,500 | $1,145 | 22.4 min | -1.4% |
| 10 | Rio Rancho | $310,200 | $1,514 | 29.7 min | +9.9% |
| 11 | Santa Fe | $444,900 | $1,463 | 21.0 min | +2.7% |
Cheap often comes with a trade-off. Check the growth column: a shrinking population can mean fewer jobs nearby.
All 11, cheapest first
See all 11, cheapest first
| # | Place | Median home value | Median rent | Commute | Population 2025 |
|---|---|---|---|---|---|
| 1 | Roswell | $152,600 | $876 | 18.2 min | 46,878 |
| 2 | Clovis | $169,400 | $988 | 16.4 min | 37,127 |
| 3 | Alamogordo | $172,900 | $902 | 17.9 min | 31,906 |
| 4 | Hobbs | $191,300 | $1,112 | 23.8 min | 40,863 |
| 5 | Carlsbad | $200,000 | $1,236 | 22.3 min | 32,524 |
| 6 | Las Cruces | $231,700 | $974 | 18.9 min | 116,978 |
| 7 | Farmington | $233,000 | $1,037 | 19.5 min | 46,055 |
| 8 | Los Lunas | $262,900 | $1,110 | 25.8 min | 20,572 |
| 9 | Albuquerque | $291,500 | $1,145 | 22.4 min | 556,588 |
| 10 | Rio Rancho | $310,200 | $1,514 | 29.7 min | 114,419 |
| 11 | Santa Fe | $444,900 | $1,463 | 21.0 min | 89,837 |
Home values are owner estimates averaged over 2020 to 2024 (American Community Survey 5-year), so they run below today's listing prices. Use them to compare places, not to price a home.
Questions people ask
What is the cheapest place to live in New Mexico?
Of the 11 New Mexico cities and towns with 20,000 or more people, Roswell has the lowest median home value at $152,600, followed by Clovis ($169,400) and Alamogordo ($172,900) (American Community Survey 2020-2024).
Where is rent cheapest in New Mexico?
Roswell, with a median gross rent of $876 a month including utilities.
What is the most expensive place to live in New Mexico?
Of the places we rank, Santa Fe, with a median home value of $444,900.
What taxes do you pay in New Mexico?
Income tax: 5.90% (top rate, 2026). Property tax: 0.63% of home value, statewide effective rate (Census ACS 2025). Sales tax: 7.67% combined state and average local (Tax Foundation 2026).
More on New Mexico
- Best places to live in New Mexico
- Cost of living in New Mexico
- Cheapest places to live in Arizona
- Cheapest places to live in California
- Cheapest places to live in Colorado
- Cheapest places to live in Idaho
- Cheapest places to live in Nevada
- Cheapest places to live in Oregon
- Cheapest places in every state we rank
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Sources for this page
- Population, 2020 and July 2025: US Census Bureau, Vintage 2025 city and town estimates (May 2026)
- Median home value: US Census Bureau, American Community Survey 2020-2024 5-year, B25077
- Median gross rent: US Census Bureau, American Community Survey 2020-2024 5-year, B25064
- Mean travel time to work: US Census Bureau, American Community Survey 2020-2024 5-year, S0801