Average Rent in Lea County, NM↓ Rents falling 3.2% YoY🔺 4th priciest in NM

Lea County, NM has rental prices ranging from $806/month to $1,599/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $862/month — 38% below the national average of $1,400/month. With a median household income of $68,750/year, spending $862/month on a 1-bedroom represents 15% of gross income — within the recommended 30% threshold.

How Lea County Compares

With an average 2-bedroom rent of $1,131/month, Lea County ranks #4 most expensive of the 30 cities tracked in New Mexico — pricier than 77% of all US cities in our data.

The Lea County Rental Market

The Lea County, NM area has a population of about 73,154 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 Lea County, NM have fallen by $37/month (3.2%) over the past year, from $1,168 to $1,131. This slight decline is consistent with broader market corrections seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Lea County, NM without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $34,480. The local median household income of $68,750 exceeds that threshold by $34,270, making Lea County relatively accessible compared to local wages.

Economy & Jobs

Lea County, NM has an unemployment rate of 4.9%, 1.0 percentage point 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 Lea County, NM Affordable?

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

Rent or Buy in Lea County?

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

Living in Lea County

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