How much does it cost to rent in Santa Fe, NM?

As of July 2026, the median monthly rent in Santa Fe, NM is $1,932. This figure is based on aggregated data from public sources and community-submitted rents.

Is Santa Fe cheaper than other New Mexico cities?

Santa Fe is one of the pricier cities in New Mexico, ranking #3 out of 15 cities tracked at $1,932/mo.

When was Santa Fe rent data last updated?

Santa Fe rent data reflects July 2026 and was last refreshed on July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.

Is Santa Fe a renter's market or a landlord's market?

Based on RentDataNow's Rent Market Meter, Santa Fe is currently a renter's market. Rents are softening (up only 1.4% YoY), so renters have negotiating leverage. The meter is derived from rent-price momentum (year-over-year and month-over-month change), not inventory levels.

City Report · NM

Santa Fe

Name: Average Rent Prices in Santa Fe, NM
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 89,019·3rd most expensive in New Mexico·Rental market data updated monthly for Santa Fe, NM

Median rent (all units)

$1,932/mo

Year-over-Year

+1.4%

Month-over-Month

-1.9%

vs US Median

-$33

Falling (Monthly)

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Most AffordableMost Expensive

Santa Fe · $1,932

More expensive than 55% of US cities · National median $1,965/mo

Rent Reality Score

83/100

Great value

OverheatedFairGreat value

Rents are 16% below what Santa Fe's 10-year trend predicts — a better deal than its own history suggests.

Actual rent

$1,932/mo

Expected by trend

$2,309/mo

The Rent Reality Score compares today's median rent to where Santa Fe's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$1,283

1 BR

$1,420

2 BR

$1,690

3 BR

$2,137

4 BR+

$2,243

Research median

$1,690/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: July 20, 2026

Annual cost

$23,184/yr

At $1,932/mo median

Rent Market Meter

Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are softening (up only 1.4% YoY), so renters have negotiating leverage.

Based on rent-price momentum (+1.4% YoY, -1.9% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Santa Fe, NM is majority owner-occupied, has a large retiree population, 47.8% of residents hold a bachelor's degree or higher.

Population

89,019

Median income

$73,482

Median age

46.3

Renters

36.4%

Age distribution

16%

20.3%

24.9%

12.7%

26.2%

Under 1816%

18–3420.3%

35–5424.9%

55–6412.7%

65+26.2%

Gender

48.5%

51.5%

Male48.5%

Female51.5%

Race & ethnicity

54.9%

49.5%

White54.9%

Black1.4%

Hispanic49.5%

Asian1.9%

Education (25+)

19%

24.5%

47.8%

No HS diploma8.7%

HS diploma19%

Some college24.5%

Bachelor's+47.8%

Housing tenure

63.6%

36.4%

Owner63.6%

Renter36.4%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Santa Fe, NM has changed in 5 years

Rent

$1,456 → $1,932

up 32.7%

Income

$61,990 → $73,482

up 18.5%

Population

86,935 → 89,019

up 2.4%

Renter share

36.3% → 36.4%

+0.1 pts

Bachelor's+

42.8% → 47.8%

+5.0 pts

Median age

44 → 46.3

+2.3 yrs

Across the past five years, the going rent in Santa Fe, NM has shifted from $1,456 to $1,932, up 32.7% since 2021. Census figures show median household income at $73,482 today, compared with $61,990 five years earlier. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show Santa Fe, NM adding about 2,084 residents over the five-year window, up 2.4% on net. Bachelor's-degree-or-higher attainment moved from 42.8% to 47.8% across the same window. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

Community

Discussions about Santa Fe

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View Santa Fe rent history (2015–2026) →

Salary vs rent

Can you afford rent in Santa Fe on your salary?

At $1,932/mo, how Santa Fe rent compares to typical pay (30% rule).

Registered Nurse

Avg $85,032/yr · Rent = 27.3% income

affordable

Elementary School Teacher

Avg $60,372/yr · Rent = 38.4% income

stretched

Police Officer

Avg $69,543/yr · Rent = 33.3% income

stretched

Software Developer

Avg $124,299/yr · Rent = 18.7% income

very comfortable

Lawyer

Avg $158,823/yr · Rent = 14.6% income

very comfortable

Firefighter

Avg $56,529/yr · Rent = 41% income

rent-burdened

Truck Driver

Avg $51,039/yr · Rent = 45.4% income

rent-burdened

Electrician

Avg $62,910/yr · Rent = 36.9% income

stretched

By apartment size

Santa Fe rent by bedroom count

Median rent for each apartment size in Santa Fe. Click any size for full breakdown.

Local insights

Tips for renters in Santa Fe

About renting in Santa Fe, NM

Last updated: July 20, 2026

The median rent in Santa Fe is $1,932/mo as of July 2026. A studio apartment averages $1,283/mo while a 2-bedroom runs $1,690/mo. One-bedroom apartments average $1,420/mo and 3-bedroom units go for $2,137/mo.

At 32% of local median household income ($73,482/yr), Santa Fe ranks as moderate compared to the national benchmark of 30%. Rents have increased 1.4% over the past year.

FAQ

Frequently asked questions

Is Santa Fe an affordable city for renters?

Santa Fe is considered moderate for renters. At $1,932/mo, rent takes approximately 32% of the local median household income ($73,482/yr). The standard benchmark is 30%. Santa Fe slightly exceeds that threshold, so budgeting carefully matters here.

How much income do you need to rent in Santa Fe?

To keep rent at or below 30% of gross income, you would need to earn at least $77,000/year (~$37/hour full-time) to afford the median rent of $1,932/mo in Santa Fe. The local median household income is $73,482/yr, meaning the typical Santa Fe household falls short of that threshold.

Is rent going up or down in Santa Fe?

Rent in Santa Fe has increased 1.4% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Santa Fe neighborhoods have the lowest rent?

The most affordable ZIP codes in Santa Fe are 87505 ($1,777/mo), 87507 ($1,920/mo), and 87501 ($2,144/mo). Citywide, the median rent in Santa Fe is $1,932/mo.

How does Santa Fe rent compare to other cities in New Mexico?

Santa Fe is one of the pricier cities in New Mexico for rent, ranking #3 out of 15 tracked cities at $1,932/mo.

Which nearby cities are cheaper to rent in than Santa Fe?

Several nearby cities have lower median rents than Santa Fe ($1,932/mo): Albuquerque ($1,486/mo), Rio Rancho ($1,857/mo).

What percentage of Santa Fe residents rent vs. own?

According to Census data, approximately 36.4% of Santa Fe households are renters, while 63.6% are owner-occupied. Santa Fe leans toward homeownership, which can mean a smaller rental inventory.

How does Santa Fe rent compare to the national average?

Santa Fe's median rent of $1,932/mo is $33 (2%) below the US national median of $1,965/mo. Within New Mexico, it ranks #3 out of 15 tracked cities.

Income Affordability

32%

MODERATE

At $1,932/mo, rent takes ~32% of Santa Fe's median household income ($73,482/yr). The standard benchmark is 30%.

Santa Fe 32%Benchmark 30%

State income tax1.7–5.9%

Run the Santa Fe affordability calculator →

Nearby cities