In New Mexico, the median household income is $64,059 and 70% of homes are owner-occupied (ACS 2020 to 2024). A safe personal loan starts with a license check, three written offers compared on total cost, and a payment that fits your own budget.
On this page
- New Mexico by the numbers
- What the numbers mean for New Mexico borrowers
- Largest places in New Mexico
- More New Mexico cities and towns
- Counties with the most residents
- How New Mexico earns a living
- More context for New Mexico budgets
- Checking a lender in New Mexico
- Can New Mexico residents use the questionnaire?
- Local guides in New Mexico
- Frequently asked questions
New Mexico by the numbers
New Mexico in sixteen numbers, each beside the U.S. value and a rank where 1 is the highest of 51.
| Measure | New Mexico | U.S. | Place among 51 |
|---|---|---|---|
| Median household income | $64,059 | $80,734 | 45th |
| Commutes of 45 minutes or longer | 13% | 17% | 30th |
| Workers who work from home | 12% | 15% | 33rd |
| Adults 25+ with a bachelor's degree | 31% | 36% | 41st |
| Median age | 39.4 | 38.9 | 20th |
| Gini index (inequality) | 0.477 | 0.483 | 15th |
| Share of households under $35,000 | 29% | 21% | 5th |
| Share of households at $100,000+ | 31% | 41% | 44th |
| People below the poverty line | 17.8% | 12.5% | 3rd |
| Unemployment rate (ACS) | 6.0% | 5.2% | 7th |
| Rent, median gross (monthly) | $1,067 | $1,413 | 36th |
| Rent-burdened renters (30%+) | 50% | 51% | 19th |
| Median home value | $248,100 | $332,700 | 37th |
| Homeownership rate | 70% | 65% | 16th |
| Mortgaged owners paying 30%+ on housing | 29% | 28% | 16th |
| Years of median income to buy the median home | 3.9x | 4.1x | 27th |
What the numbers mean for New Mexico borrowers
In New Mexico, 31% of households report $100,000 or more in income and 29% report under $35,000, against 41% and 21% for the country. Our partners generally look for at least $30,000 in yearly income from any regular source, so households near the bottom of that range may be better served by free options first.
On commuting, New Mexico ranks 30th: 13% of workers need 45 minutes or more to get to work (U.S. 17%). Where commutes are long, a car repair is often the emergency that sends people looking for a loan; see our auto repair guide.
New Mexico's median household income is $64,059, 45th of 51 and 21% below the U.S. figure of $80,734. Half of households earn more than this and half earn less, and a lender will look only at where you sit.
Over 2020 to 2024, 6.0% of the New Mexico labor force was unemployed on average in the ACS, against 5.2% nationally; the poverty rate was 17.8%. Five-year estimates smooth out booms and slumps, so they describe the economy's shape more than its current mood.
Largest places in New Mexico
The 12 most populous places in New Mexico, with Census income, rent and home value for each. Linked names have their own local guide on this site.
| Place | County | Residents | Household income (median) | Median rent | Median home value |
|---|---|---|---|---|---|
| Albuquerque | Bernalillo County | 562,218 | $68,317 | $1,145 | $291,500 |
| Las Cruces | Doña Ana County | 114,197 | $55,422 | $974 | $231,700 |
| Rio Rancho | Bernalillo County, Sandoval County | 108,515 | $89,596 | $1,514 | $310,200 |
| Santa Fe | Santa Fe County | 89,019 | $73,482 | $1,463 | $444,900 |
| Roswell | Chaves County | 47,638 | $51,583 | $876 | $152,600 |
| Farmington | San Juan County | 46,314 | $68,784 | $1,037 | $233,000 |
| Hobbs | Lea County | 40,252 | $64,021 | $1,112 | $191,300 |
| Clovis | Curry County | 37,942 | $54,820 | $988 | $169,400 |
| South Valley | Bernalillo County | 37,120 | $58,224 | $954 | $224,300 |
| Carlsbad | Eddy County | 31,746 | $72,306 | $1,236 | $200,000 |
| Alamogordo | Otero County | 31,307 | $55,952 | $902 | $172,900 |
| Gallup | McKinley County | 21,023 | $58,303 | $927 | $165,200 |
Counting places of 20,000 or more people, median household income in New Mexico tops out at $89,596 in Rio Rancho and bottoms out at $51,583 in Roswell. The state has 4 places over 50,000 and 23 over 10,000. Median rent in that group ranges from $876 in Roswell to $1,514 in Rio Rancho.
More New Mexico cities and towns
20 more New Mexico places, largest first.
| City or town | Residents | Median household income | Median rent |
|---|---|---|---|
| Los Lunas | 18,618 | $62,330 | $1,110 |
| Chaparral | 18,186 | $46,017 | $853 |
| Sunland Park | 17,463 | $62,814 | $920 |
| Deming | 15,221 | $34,165 | $586 |
| Los Alamos | 13,317 | $141,018 | $1,359 |
| Las Vegas | 13,000 | $45,125 | $792 |
| Artesia | 12,576 | $74,915 | $1,288 |
| Portales | 11,968 | $50,555 | $903 |
| Lovington | 11,498 | $68,821 | $1,014 |
| Española | 10,473 | $47,667 | $829 |
| North Valley | 10,455 | $61,498 | $893 |
| Silver City | 9,536 | $38,711 | $866 |
| Bernalillo | 9,086 | $63,880 | $902 |
| Grants | 8,951 | $47,183 | $783 |
| Anthony | 8,767 | $38,132 | $561 |
| Corrales | 8,555 | $102,307 | $1,143 |
| Socorro | 8,481 | $39,375 | $711 |
| Ruidoso | 7,699 | $52,736 | $944 |
| Shiprock | 7,610 | $35,900 | $694 |
| Belen | 7,450 | $42,627 | $916 |
Measured as a year of median rent against median household income, housing weighs most in Silver City (27%) and least in Los Alamos (12%) among these 20 places.
Counties with the most residents
The largest 16 of New Mexico's 33 counties, by population.
| County | Residents | Median income | Median rent | Median home value |
|---|---|---|---|---|
| Bernalillo County | 673,930 | $69,473 | $1,144 | $292,900 |
| Doña Ana County | 224,266 | $56,848 | $934 | $220,800 |
| Santa Fe County | 156,105 | $79,071 | $1,389 | $446,300 |
| Sandoval County | 153,604 | $86,636 | $1,427 | $313,800 |
| San Juan County | 120,942 | $55,872 | $956 | $193,800 |
| Valencia County | 78,458 | $58,933 | $1,015 | $223,000 |
| Lea County | 73,733 | $68,015 | $1,101 | $184,000 |
| McKinley County | 70,431 | $47,668 | $859 | $78,700 |
| Otero County | 68,816 | $55,876 | $962 | $162,700 |
| Chaves County | 64,217 | $52,938 | $867 | $156,400 |
| Eddy County | 61,105 | $78,426 | $1,245 | $212,600 |
| Curry County | 47,638 | $57,309 | $1,024 | $171,200 |
| Rio Arriba County | 40,070 | $57,155 | $740 | $243,700 |
| Taos County | 34,543 | $58,950 | $1,034 | $382,800 |
| Grant County | 27,775 | $44,958 | $825 | $175,600 |
| San Miguel County | 26,850 | $49,431 | $823 | $188,500 |
Median income by county stretches from $36,419 (Luna County) up to $147,139 (Los Alamos County). Your county's costs, not the state's, set how much room a new payment has.
How New Mexico earns a living
Top four employers of New Mexico residents by industry, with the gap to the U.S. mix.
| Industry | Share of New Mexico workers | U.S. share | Difference |
|---|---|---|---|
| Education, health care and social assistance | 26% | 24% | +2.2 pts |
| Professional, scientific and administrative services | 13% | 13% | +0.3 pts |
| Retail trade | 11% | 11% | -0.1 pts |
| Arts, entertainment, lodging and food service | 10% | 9% | +1.4 pts |
New Mexico's signature sector, measured against the U.S., is public administration at 7% of employed residents. If your income comes from self-employment or gig work, gather two years of tax returns and recent bank statements before you compare offers.
More context for New Mexico budgets
New Mexico is an owner-heavy state for homeownership: 70% of occupied homes are owned, against 65% nationally. The median value of $248,100 equals 3.9 years of median income. 29% of mortgaged owners are housing-cost burdened, versus 28% nationally. An unsecured loan keeps the house out of the deal, which is worth something even when a home-equity line is cheaper.
The rent burden rate in New Mexico is 50% of renter households (U.S. 51%), on a median rent of $1,067. Renters have no home equity to fall back on, which makes comparing APR and total cost more important, not less.
With a median age of 39.4 and 31% of adults holding a four-year degree, New Mexico has a Gini inequality index of 0.477, ranking 15th from most to least unequal.
Checking a lender in New Mexico
Before you share details with any lender, confirm it may lend in New Mexico. The New Mexico Financial Institutions Division is the state banking agency listed in the Conference of State Bank Supervisors directory.
- If a lender stops answering, the CFPB complaint form usually gets a response within weeks.
- Ask for the lender's license number and look it up on NMLS Consumer Access.
- An upfront fee to "secure" a loan is a warning sign the FTC describes here.
Can New Mexico residents use the questionnaire?
Partner coverage varies by state. If no lending partner is accepting New Mexico matches yet, the questionnaire says so on the location step and offers an email waitlist instead of asking for anything else. The guides and calculators work for everyone.
Local guides in New Mexico
We publish 1 local guide for New Mexico, each built on Census data for that place.
Frequently asked questions
Which agency licenses lenders in New Mexico?
The state banking agency listed for New Mexico by the Conference of State Bank Supervisors is the New Mexico Financial Institutions Division. You can also search a lender on NMLS Consumer Access and file complaints with the CFPB.
What is the median household income in New Mexico?
The Census Bureau puts it at $64,059, which places New Mexico 45th of 51 (U.S.: $80,734).
Is rent high in New Mexico?
$1,067 a month at the median, 36th of 51. 50% of New Mexico renters are cost-burdened, against 51% nationwide.
Do home values in New Mexico change how I should borrow?
The median home in New Mexico is valued at $248,100, about 3.9 times the median household income of $64,059. Where housing takes a big share of income, keep new payments modest and compare total cost rather than stretching the term.