Average rent for a one-bedroom apartment in New Mexico increased 20 percent to $925 since Jan. 1, the 12th-highest rate among states as determined by QuoteWizard, an online insurance comparison platform that is part of the LendingTree network of personal finance services.

Twenty-eight states still have higher average rates than New Mexico. Arizona, Colorado, Utah and Texas have average rents higher than $1,000, and Arizona had the highest rent increase in the country at 25 percent.

QuoteWizard calculated the state comparisons with data from Apartment List.

City-specific, QuoteWizard determined the average rent for a one-bedroom apartment in Santa Fe increased 25 percent since January from $1,230 to $1,537.

“The COVID-19 pandemic has had a significant impact on the cost of rent,” QuoteWizard noted in its report. “Our team here at QuoteWizard analyzed rental rates across the country and found the average cost for a one-bedroom apartment has gone up 16 percent nationwide since January.”

(1) comment

Ernest Mann

It's time for rent stabilization regulation. Out of state funds buy apartments , split off all utilities thereby raising the rent and raise the rent. Rent stabilization is different from rent control. It works in NYC. Seniors are particularly affected and a transient community is created. Politicos, unfortunately, are owned by the real estate business.

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