Rent in Santa Fe, NM at a glance
2-bedroom rent (HUD)
$1,685$20,220 a year · HUD fiscal year 2026From October 1, 2026: $1,735 (+3%)How much rent can you afford in Santa Fe, NM?
HUD’s fair market rent for each size, against what a typical household here earns. Change the income to see yours.
Rent in Santa Fe, NM by bedroom, and the pay it takes
Income needed keeps rent at 30% of gross pay; the hourly figure assumes one full-time job, 2,080 hours a year.
| Size | A month | A year | Income needed | Hourly wage needed |
|---|---|---|---|---|
| Studio | $1,259 | $15,108 | $50,360 | $24.21/hr |
| 1 bedroom | $1,390 | $16,680 | $55,600 | $26.73/hr |
| 2 bedroomsMost searched | $1,685 | $20,220 | $67,400 | $32.40/hr |
| 3 bedrooms | $2,122 | $25,464 | $84,880 | $40.81/hr |
| 4 bedrooms | $2,231 | $26,772 | $89,240 | $42.90/hr |
Cost of living in Santa Fe, NM: income, prices and a budget →
Living and working in Santa Fe, NM
Rent in Santa Fe, NM: common questions
How much is rent going up in Santa Fe, NM in 2027?
HUD's Fair Market Rent for fiscal 2027, which takes effect October 1, 2026, is $1,735 for a two-bedroom, up 3% from $1,685. A one-bedroom goes from $1,390 to $1,413, a studio from $1,259 to $1,260.
These are HUD's estimates of what a typical recently rented unit costs, used for housing vouchers. A landlord's increase on your lease follows your lease and your state's rules, not this figure.
What is the average rent in Santa Fe, NM?
HUD's Fair Market Rent for 2026 is $1,390 for a one-bedroom and $1,685 for a two-bedroom, utilities included. That is $20,220 a year for the two-bedroom.
It is not an average of current listings. HUD sets it at the rent 40% of recent movers paid or less for a standard unit, so asking rents on newer places usually run higher.
How much do you need to make to afford rent in Santa Fe, NM?
To keep a $1,685 two-bedroom at 30% of gross pay, one full-time worker needs $32.40 an hour, or $67,400 a year. A one-bedroom at $1,390 takes $26.73 an hour.
How much is a 1, 2 or 3-bedroom apartment in Santa Fe, NM?
At HUD's 2026 Fair Market Rent: studio $1,259, one bedroom $1,390, two $1,685, three $2,122 and four $2,231 a month.
Is rent affordable in Santa Fe, NM?
For the typical household, earning $73,482 a year ($6,124 a month, Census ACS), a two-bedroom at $1,685 takes 27.5% of income. Under 30% is the usual line for affordable; this is under it.
How is the income needed for rent worked out?
Rent for a year divided by 0.30, the share of gross income HUD treats as affordable: ($1,685 × 12) ÷ 0.30 = $67,400. Divided by 2,080 working hours, that is $32.40 an hour.