Average Rent in Chaves County, NM↓ Rents falling 1.7% YoY

Chaves County, NM has rental prices ranging from $693/month to $1,413/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $737/month — 47% below the national average of $1,400/month. With a median household income of $52,029/year, spending $737/month on a 1-bedroom represents 17% of gross income — within the recommended 30% threshold.

How Chaves County Compares

With an average 2-bedroom rent of $953/month, Chaves County ranks #10 most expensive of the 30 cities tracked in New Mexico — pricier than 56% of all US cities in our data.

The Chaves County Rental Market

The Chaves County, NM area has a population of about 64,446 and 31% of households renting rather than owning. That is close to the US average renter share of ~34%.

Rent Trends

2-bedroom rents in Chaves County, NM have fallen by $16/month (1.7%) over the past year, from $969 to $953. Rents have remained relatively stable year over year, indicating a balanced rental market in the area.

Affordability

To afford a 1-bedroom apartment in Chaves County, NM without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $29,480. The local median household income of $52,029 exceeds that threshold by $22,549, making Chaves County relatively accessible compared to local wages.

Economy & Jobs

Chaves County, NM has an unemployment rate of 5.7%, 1.8 percentage points above the national average of 3.9%. A higher unemployment rate can moderate rental demand over time, which may help keep rent growth in check compared to tighter job markets.

Is Chaves County, NM Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Chaves County?

Break-even analysis and mortgage estimates based on local market data.

Living in Chaves County

Cost of living, job market, crime rates, and moving cost estimates.