Updated 2026 · Based on median market data for Alamogordo, NM
The median monthly rent in Alamogordo, NM is $1,470, translating to $17,640 in annual gross rental income per unit. The rent-to-price ratio is 0.65% — well below the 1% rule, making pure cash flow investing challenging at median prices.
Renters in Alamogordo spend approximately 34% of the local median household income ($51,750) on rent. This exceeds the standard 30% affordability threshold, suggesting rent growth may face resistance — but it also means a large portion of the population finds buying even more out of reach, supporting rental demand.
The vacancy rate in Alamogordo is 5.5%. This is a healthy vacancy rate that indicates balanced supply and demand. You should be able to find quality tenants without extended vacancies, though expect normal turnover periods of 2-4 weeks between tenants. Population growth of 0.8% annually provides stable demand.
Alamogordo's GRM (price divided by annual rent) is 12.8x. A GRM between 12-16x is moderate and typical of balanced markets. Deals can work but you need to keep expenses controlled. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $1,470/mo, a single-family rental in Alamogordo generates approximately $17,640 in gross annual income. After accounting for 5.5% vacancy ($970 lost), property taxes of $1,733, insurance (~$900), and maintenance (~$900), the estimated NOI is $13,137 per year, or $1,095/mo.
Alamogordo vs New Mexico state average and national average across key investment metrics. Alamogordo outperforms both benchmarks on cap rate.