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ZIP Code · NM

ZIP 87124

Pop. 58,499·Sandoval County·12th most expensive ZIP in New Mexico
Median rent (all units)
$1,684/mo
Year-over-Year
-7.0%
Month-over-Month
-2.7%
vs US Median
-$281
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 87124 · $1,684
More affordable than 60% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,210
1 BR
$1,420
2 BR
$1,750
3 BR
$2,430
4 BR+
$2,870
Research median
$1,750/mo

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

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$20,208/yr
At $1,684/mo median
Location
StateNM
CountySandoval County
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 7.0% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (-7.0% YoY, -2.7% MoM), not inventory.
Demographics

Who lives here

ZIP 87124 (Rio Rancho, NM) is majority owner-occupied, 33.7% of residents hold a bachelor's degree or higher.

Population
58,499
Median income
$86,555
Median age
40.9
Renters
20.9%
Age distribution
21.7%
20.5%
25.3%
12.8%
19.8%
Under 1821.7%
18–3420.5%
35–5425.3%
55–6412.8%
65+19.8%
Gender
49.9%
50.1%
Male49.9%
Female50.1%
Race & ethnicity
58.5%
40.5%
White58.5%
Black2.9%
Hispanic40.5%
Asian1.5%
Education (25+)
26%
35.8%
33.7%
No HS diploma4.5%
HS diploma26%
Some college35.8%
Bachelor's+33.7%
Housing tenure
79.1%
20.9%
Owner79.1%
Renter20.9%

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

2021 vs 2026

How ZIP 87124 in Rio Rancho, NM has changed in 5 years

Rent
$1,321 → $1,684
up 27.5%
Income
$63,826 → $86,555
up 35.6%
Population
56,875 → 58,499
up 2.9%
Renter share
23.9% → 20.9%
-3.0 pts
Bachelor's+
30.5% → 33.7%
+3.2 pts
Median age
40.1 → 40.9
+0.8 yrs

Since 2021, the typical rent in ZIP 87124 in Rio Rancho, NM has increased from $1,321 to $1,684, a 27.5% change over five years. Median household income rose from $63,826 to $86,555 between 2021 and 2024, a 35.6% shift. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has grown by 2.9% since 2021, moving from about 56,875 residents to roughly 58,499. Renters now make up 20.9% of households, compared with 23.9% five years ago. College-educated residents now make up 33.7% of adults here, versus 30.5% in 2021. Taken together, the five-year picture in ZIP 87124 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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Local insights

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About renting in ZIP 87124

Last updated: July 20, 2026

ZIP code 87124 covers Rio Rancho, NM. The median rent here is $1,684/mo as of July 2026. A 1-bedroom rents for a median of $1,420/mo. A 2-bedroom rents for a median of $1,750/mo.

At 23% of local median household income ($86,555/yr), ZIP 87124 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 7.0% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 87124?

As of July 20, 2026, the median monthly rent in ZIP 87124 (Rio Rancho, NM) is $1,684. This is based on aggregated data from public sources and community submissions.

How does ZIP 87124 rent compare to the US average?

ZIP 87124's median rent of $1,684/mo is $281 (14%) below the US national median of $1,965/mo.

How does ZIP 87124 compare to other ZIPs in New Mexico?

ZIP 87124 is one of the pricier ZIP codes in New Mexico, ranking #12 out of 35 ZIPs tracked at $1,684/mo.

How much income do you need to rent in ZIP 87124?

To keep rent at or below 30% of gross income, you would need to earn at least $67,000/year (~$32/hour full-time) to afford the median rent of $1,684/mo in ZIP 87124. The local median household income is $86,555/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 87124?

Rent in ZIP 87124 has decreased 7.0% over the past year as of July 20, 2026, offering some relief compared to 12 months ago.

Is ZIP 87124 an affordable place to rent?

ZIP 87124 is considered very affordable for renters. At $1,684/mo, rent takes approximately 23% of the local median household income ($86,555/yr). The standard benchmark is 30%. ZIP 87124 falls comfortably within that range.

What percentage of ZIP 87124 residents rent vs. own?

According to Census data, approximately 20.9% of ZIP 87124 households are renters, while 79.1% are owner-occupied. ZIP 87124 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 87124 compare to the rest of Rio Rancho?

ZIP 87124 is more affordable than Rio Rancho overall. At $1,684/mo, it's $173 below the Rio Rancho citywide median of $1,857/mo.

When was rent data for ZIP 87124 last updated?

Rent data for ZIP 87124 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
23%
VERY AFFORDABLE

At $1,684/mo, rent takes ~23% of ZIP 87124's median household income ($86,555/yr). The standard benchmark is 30%.

ZIP 87124 23%Benchmark 30%
State income tax1.7–5.9%
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Public schools near ZIP 87124 (Rio Rancho, NM)

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