#36
New Mexico
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State Facts
Minimum Wage
$7.50
Average Renter Wage
$12.97
2-Bedroom Housing Wage
$15.89
Number of Renter Households
245,732
Percent Renters
32%
Affordable Rent for Low Income Households
Fair Market Rent
Working at
minimum wage
$7.50/hr
Each week you
have to work
69HOURS!
To afford a modest
1 bedroom
rental home at
Fair Market Rent
Compare Jurisdictions
| Number of Households | New Mexico | Bernalillo County |
|---|---|---|
| Total | 762,551 | 262,520 |
| Renter | 245,732 | 98,741 |
| Percent Renters | 32% | 38% |
| Housing Wage | New Mexico | Bernalillo County |
|---|---|---|
| Zero-Bedroom | $11.01 | $10.71 |
| One-Bedroom | $12.90 | $13.60 |
| Two-Bedroom | $15.89 | $16.79 |
| Three-Bedroom | $22.38 | $24.42 |
| Four-Bedroom | $26.27 | $29.10 |
| Fair Market Rent | New Mexico | Bernalillo County |
|---|---|---|
| Zero-Bedroom | $573 | $557 |
| One-Bedroom | $671 | $707 |
| Two-Bedroom | $827 | $873 |
| Three-Bedroom | $1,164 | $1,270 |
| Four-Bedroom | $1,366 | $1,513 |
| Annual Income Needed to Afford | New Mexico | Bernalillo County |
|---|---|---|
| Zero-Bedroom | $22,900 | $22,280 |
| One-Bedroom | $26,825 | $28,280 |
| Two-Bedroom | $33,062 | $34,920 |
| Three-Bedroom | $46,546 | $50,800 |
| Four-Bedroom | $54,650 | $60,520 |
| Minimum Wage | New Mexico | Bernalillo County |
|---|---|---|
| Minimum Wage | $7.50 | $7.50 |
| Rent Affordable at Minimum Wage | $390 | $390 |
| Work Hours/Week at Minimum Wage | New Mexico | Bernalillo County |
|---|---|---|
| Zero-Bedroom | 59 | 57 |
| One-Bedroom | 69 | 73 |
| Two-Bedroom | 85 | 90 |
| Three-Bedroom | 119 | 130 |
| Four-Bedroom | 140 | 155 |
| Renter Wage | New Mexico | Bernalillo County |
|---|---|---|
| Estimated Mean Renter Wage | $12.97 | $12.92 |
| Rent Affordable at Mean Renter Wage | $674 | $672 |
| Work Hours/Week at Mean Renter Wage | New Mexico | Bernalillo County |
|---|---|---|
| Zero-Bedroom | 34 | 33 |
| One-Bedroom | 40 | 42 |
| Two-Bedroom | 49 | 52 |
| Three-Bedroom | 69 | 76 |
| Four-Bedroom | 81 | 90 |
| Supplemental Security Income (SSI) Payment | New Mexico | Bernalillo County |
|---|---|---|
| SSI Monthly Payment | $750 | $750 |
| Rent Affordable to SSI Recipient | $225 | $225 |
| Income Levels | New Mexico | Bernalillo County |
|---|---|---|
| 30% of Area Median Income (AMI) | $17,885 | $19,500 |
| Estimated Renter Median Household Income | $30,890 | $30,739 |
| Rent Affordable at Different Income Levels | New Mexico | Bernalillo County |
|---|---|---|
| 30% of Area Median Income (AMI) | $447 | $488 |
| Estimated Renter Median Household Income | $772 | $768 |
*50th percentile FMR area (See Appendix B of full book for more information).
†Renter wage data not available.
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