Rio Rancho, New Mexico Housing Market Prices
Rio Rancho Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
-
Median home price 71% above the New Mexico median$348,703
-
Median rent 39% above the New Mexico median$1,484
Housing Market Overview
| Metric | Rio Rancho | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $348,703 | $204,122 | $248,835 |
| Price Trend (Annual %) | 10.2% | 3.1% | 7.5% |
| Median Gross Rent | $1,484 | $1,067 | $1,407 |
| Rent Trend (Annual %) | 4.1% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Rio Rancho is about 71% higher than in New Mexico. Rent is about 39% higher than the New Mexico average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Rio Rancho, up about 10.2% and 4.1% a year respectively. Home prices are changing faster.
Median rent in Rio Rancho rose about 40.5% between 2015 and 2024, from $1,057 to $1,484. Over the same span, rent in New Mexico rose about 37.3%.
Affordability
On average, housing unit costs 3.9 yearly household incomes in Rio Rancho.
Buying the median-priced home in Rio Rancho costs roughly 19.6 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Rio Rancho. The price-to-rent ratio in New Mexico is about 15.9.
| Metric | Rio Rancho | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $348,703 | $204,122 | $248,835 |
| Median Household Income | $89,240 | $64,523 | $80,455 |
| Price-to-Income Ratio | 3.9 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Rio Rancho rose about 73.6%, while median household income rose about 33.3% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Rio Rancho | New Mexico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 78.8% | 61.3% | 58.5% |
| Rental Rate | 17.5% | 26.2% | 31.2% |
| Vacancy Rate | 3.7% | 12.5% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Rio Rancho has a homeownership rate of 78.8%, higher than the New Mexico average of 61.3%. Its housing vacancy rate is 3.7%, compared with 12.5% in New Mexico.
Housing Stock
| Metric | Rio Rancho | New Mexico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.66 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1998 | 1983 | 1978 |
| Median Number of Rooms | 5.9 | 5.3 | 5.5 |
The typical housing unit in Rio Rancho was built around 1998. On average, 2.7 people live in a home with about 5.9 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Rio Rancho, New Mexico.
What is the median home price in Rio Rancho, New Mexico?
The median home price in Rio Rancho, New Mexico is $348,703, higher than the New Mexico average of $204,122.
What is the average home price in Rio Rancho, New Mexico?
The typical home price in Rio Rancho, New Mexico, reported as the median sale price, is $348,703. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Rio Rancho, New Mexico?
The median gross rent in Rio Rancho, New Mexico is $1,484 per month, higher than the New Mexico average of $1,067.
What was the median gross rent in Rio Rancho in 2020?
In 2020, the median gross rent in Rio Rancho, New Mexico was $1,138 per month.
What is the price-to-rent ratio in Rio Rancho, New Mexico?
The price-to-rent ratio in Rio Rancho, New Mexico is about 19.6, meaning it would take roughly 19.6 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Rio Rancho.
Are home prices or rent rising faster in Rio Rancho, New Mexico?
Both home prices and rent are rising in Rio Rancho, up about 10.2% and 4.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Rio Rancho, New Mexico?
78.8% of households in Rio Rancho, New Mexico own their home, higher than the New Mexico average of 61.3%.
What is the vacancy rate in Rio Rancho, New Mexico?
The housing vacancy rate in Rio Rancho, New Mexico is 3.7%, lower than the New Mexico average of 12.5%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →