125,526 (or 5.99%) of the 2,096,829 population of New Mexico live in 5+ unit apartment properties. New Mexico has approximately 79,130 multifamily units. Last year, 760 new apartment units were constructed in New Mexico, representing a 0.97% growth in units. Multifamily units make up 9.47% of the total housing stock in New Mexico.
Interest rates for multifamily loans in New Mexico are very competitive. New Mexico apartments are eligible for non-recourse multifamily loans with long term fixed rates and other favorable terms. SoftQuotes' lenders are actively lending on 5+ unit multifamily properties in New Mexico.
SoftQuotes' lender rates for 5+ unit multifamily loans in New Mexico are:
Loan Amount |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.07% - 6.92% |
| 7 Year Fixed | 6.18% - 6.68% |
| 10 Year Fixed | 6.19% - 6.67% |
Loan Amount |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.44% - 5.99% |
| 7 Year Fixed | 5.49% - 6.04% |
| 10 Year Fixed | 5.47% - 6.02% |
The state of New Mexico prohibits rent control.
Bedrooms |
Low1 |
High2 |
Average2 |
|---|---|---|---|
| Studio | $519 | $914 | $682 |
| 1 bedroom | $557 | $1,012 | $728 |
| 2 bedroom | $734 | $1,246 | $898 |
| 3 bedroom | $918 | $1,669 | $1,212 |
| 4 bedroom | $1,067 | $2,157 | $1,440 |