At $1,684/mo, rent takes about 32% of the local median household income, slightly above the 30% benchmark.
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 $1,684 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
Rent in Santa Teresa changed +17.9% over the year to September 2026. Across the 12 New Mexico cities Zillow tracks, the typical change was +4.1%.
Rent has risen 5 months in a row, and rose in 11 of the last 12 months.
30% of the median household income ($63,161) is $1,579 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($1,570); a 4-bedroom is $1,740.
El Paso, TX, 16 miles away, rents for 10% less ($1,508/mo), about $2,100 a year in savings.
From Zillow's monthly rent index (ZORI) for Santa Teresa. 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
Santa Teresa, NM is majority owner-occupied, has a large share of families with children, has a median income below the national average, 37.6% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Santa Teresa, NM has changed in 5 years
Local incomes tracked alongside that move, going from a median of $54,205 in 2021 to $63,161 more recently. The renter share has eased from 28.3% to 26.3%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 44.3% to 37.6% across the same window.
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At $1,684/mo, how Santa Teresa rent compares to typical pay (30% rule).
Santa Teresa rent by bedroom count
Median rent for each apartment size in Santa Teresa. Click any size for full breakdown.
Tips for renters in Santa Teresa
Last updated: October 17, 2026
The median rent in Santa Teresa is $1,684/mo as of October 2026. A studio apartment averages $800/mo while a 2-bedroom runs $1,130/mo. One-bedroom apartments average $1,020/mo and 3-bedroom units go for $1,570/mo.
At 32% of local median household income ($63,161/yr), Santa Teresa ranks as moderate compared to the national benchmark of 30%. Rents have increased 17.9% over the past year.
Frequently asked questions
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Is rent going up or down in Santa Teresa?
How does Santa Teresa rent compare to other cities in New Mexico?
Which nearby cities are cheaper to rent in than Santa Teresa?
At $1,684/mo, rent takes ~32% of Santa Teresa's median household income ($63,161/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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