Mortgage Rates in New Mexico — April 2026
Compare current mortgage rates across 45 cities in New Mexico. The average 30-year fixed rate is 6.71%, which is 0.62% above the national average of 6.09%.
New Mexico Housing Highlights
All 45 Cities in New Mexico
| City | 30-Yr Rate | Home Price | Monthly P&I | Population |
|---|---|---|---|---|
| Albuquerque | 6.72% | $285,000 | $1,474 | 564,559 |
| Las Cruces | 6.72% | $235,000 | $1,216 | 111,385 |
| Rio Rancho | 6.72% | $295,000 | $1,526 | 104,046 |
| Santa Fe | 6.72% | $535,000 | $2,767 | 89,117 |
| Roswell | 6.72% | $155,000 | $802 | 48,366 |
| Farmington | 6.73% | $227,000 | $1,175 | 45,877 |
| South Valley | 6.88% | $224,000 | $1,178 | 40,976 |
| Hobbs | 6.53% | $195,000 | $989 | 40,508 |
| Clovis | 6.25% | $175,000 | $862 | 39,389 |
| Carlsbad | 6.33% | $225,000 | $1,118 | 32,238 |
| Alamogordo | 6.86% | $249,000 | $1,307 | 32,026 |
| Cimarron | 6.62% | $295,000 | $1,510 | 27,241 |
| Thoreau | 6.73% | $250,000 | $1,295 | 23,274 |
| Tijeras | 6.81% | $230,000 | $1,201 | 22,673 |
| Gallup | 6.75% | $216,000 | $1,121 | 21,903 |
| Moriarty | 6.75% | $310,000 | $1,609 | 18,965 |
| Clayton | 6.61% | $265,000 | $1,355 | 18,552 |
| Sunland Park | 6.79% | $202,000 | $1,052 | 16,889 |
| Los Lunas | 6.76% | $198,000 | $1,028 | 16,024 |
| Chaparral | 6.74% | $235,000 | $1,218 | 14,631 |
| Deming | 6.68% | $205,000 | $1,056 | 14,116 |
| North Valley | 6.62% | $232,000 | $1,188 | 13,507 |
| Las Vegas | 6.88% | $222,000 | $1,167 | 13,055 |
| Artesia | 6.8% | $210,000 | $1,095 | 12,974 |
| Enchanted Hills | 6.77% | $221,000 | $1,149 | 12,798 |
| Los Alamos | 6.64% | $229,000 | $1,175 | 12,669 |
| Lovington | 6.79% | $233,000 | $1,214 | 12,004 |
| Portales | 6.71% | $229,000 | $1,183 | 11,891 |
| Espanola | 6.62% | $218,000 | $1,116 | 10,224 |
| Bernalillo | 6.64% | $240,000 | $1,231 | 10,039 |
| Silver City | 6.87% | $222,000 | $1,166 | 9,673 |
| Anthony | 6.67% | $224,000 | $1,153 | 9,360 |
| Grants | 6.84% | $225,000 | $1,178 | 9,176 |
| Socorro | 6.73% | $212,000 | $1,098 | 8,680 |
| Corrales | 6.72% | $212,000 | $1,097 | 8,329 |
| Shiprock | 6.65% | $213,000 | $1,094 | 8,295 |
| Ruidoso | 6.6% | $193,000 | $986 | 8,029 |
| Bloomfield | 6.76% | $185,000 | $961 | 7,979 |
| Edgewood | 6.87% | $195,000 | $1,024 | 6,647 |
| Zuni Pueblo | 6.83% | $210,000 | $1,099 | 6,302 |
| Raton | 6.88% | $199,000 | $1,046 | 6,019 |
| Taos | 6.7% | $190,000 | $981 | 5,959 |
| Truth or Consequences | 6.67% | $210,000 | $1,081 | 5,950 |
| Tucumcari | 6.72% | $188,000 | $972 | 5,089 |
| Rio Communities | 6.75% | $218,000 | $1,131 | 5,035 |
New Mexico Mortgage Rates Guide — 2026
New Mexico homebuyers currently see an average 30-year fixed mortgage rate of 6.71%, with median home prices around $229,689. At these rates, the typical monthly mortgage payment (principal and interest with 20% down) is $1,188.
The most affordable city for homebuyers in New Mexico is Roswell, where the median home price is $155,000. On the other end, Santa Fe has the highest prices at $535,000. Property tax rates across the state average 0.8%.
To comfortably afford a home at the state average price, a household income of approximately $50,914 is recommended, following the standard guideline that housing costs should not exceed 28% of gross income.
Use our free loan calculator to see your exact monthly payments and amortization schedule, or browse individual city pages below for localized rate data and market insights.
Frequently Asked Questions — New Mexico Mortgages
What are current mortgage rates in New Mexico?
As of April 2026, the average 30-year fixed mortgage rate in New Mexico is 6.71% and the 15-year fixed rate averages 5.96%. Rates vary by city, lender, and borrower qualification.
What is the average home price in New Mexico?
The median home price across 45 cities in New Mexico is $229,689. Prices range from $155,000 in Roswell to $535,000 in Santa Fe.
How much income do I need to buy a house in New Mexico?
Based on the 28% debt-to-income guideline, you would need a household income of approximately $50,914 to comfortably afford the average home in New Mexico. The median household income in the state is approximately $49,065.
Browse Mortgage Rates by State
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