Rents are 6% below what Rio Rancho's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,867 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in Rio Rancho usually run 0.7% below trend in January and 0.7% above it in July, about $26 a month apart at today's median. Based on 11 years of data.
Rent in Rio Rancho is 0.6% below its high of $1,879 in August 2026, at $1,867 as of September 2026.
Rent in Rio Rancho changed +2.3% over the year to September 2026. Across the 12 New Mexico cities Zillow tracks, the typical change was +4.1%.
From 2019 to 2024, rent in Rio Rancho rose 53.9% while median household income rose 34% ($66,856 to $89,596). Rent outpaced income.
Rent in Rio Rancho is 54.9% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent rose in 9 of the last 12 months.
30% of the median household income ($89,596) is $2,240 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,695); a 3-bedroom is $2,375.
Albuquerque, 15 miles away, rents for 22% less ($1,452/mo), about $5,000 a year in savings.
From Zillow's monthly rent index (ZORI) for Rio Rancho. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Rio Rancho, NM is majority owner-occupied, has a median income above the national average, 34% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Rio Rancho, NM has changed in 5 years
Compared with 2021, rent in Rio Rancho, NM has climbed by $548 per month, settling near $1,867 after starting the period at $1,319. Median household income grew from $70,615 to $89,596 between 2021 and 2024, a 26.9% shift. Rent outpaced income growth by roughly 14.6 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 102,403 to 108,515 between 2021 and 2024, a 6.0% change. About 17.8% of households rent today, against 21.3% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 31.4% to 34%. Taken together, the five-year picture in Rio Rancho, NM reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
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Can you afford rent in Rio Rancho on your salary?
At $1,867/mo, how Rio Rancho rent compares to typical pay (30% rule).
Rio Rancho rent by bedroom count
Median rent for each apartment size in Rio Rancho. Click any size for full breakdown.
Tips for renters in Rio Rancho
Last updated: October 17, 2026
The median rent in Rio Rancho is $1,867/mo as of October 2026. A studio apartment averages $1,165/mo while a 2-bedroom runs $1,695/mo. One-bedroom apartments average $1,380/mo and 3-bedroom units go for $2,375/mo.
At 25% of local median household income ($89,596/yr), Rio Rancho ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.3% over the past year.
Frequently asked questions
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How does Rio Rancho rent compare to other cities in New Mexico?
Which nearby cities are cheaper to rent in than Rio Rancho?
At $1,867/mo, rent takes ~25% of Rio Rancho's median household income ($89,596/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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