Updated 2026 · Based on median market data for Clovis, NM
The median monthly rent in Clovis, NM is $1,250, translating to $15,000 in annual gross rental income per unit. The rent-to-price ratio is 0.78% — below the 1% rule but within a range where deals can work with good financing.
Renters in Clovis spend approximately 29% of the local median household income ($51,750) on rent. This is within the healthy 25-30% range, indicating rent is affordable relative to local incomes. There may be room for moderate rent increases, especially for updated or well-located units.
The vacancy rate in Clovis 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.
Clovis's GRM (price divided by annual rent) is 10.7x. A GRM under 12x is excellent — it means you're paying less than 12 years of gross rent for the property, suggesting strong income relative to price. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $1,250/mo, a single-family rental in Clovis generates approximately $15,000 in gross annual income. After accounting for 5.5% vacancy ($825 lost), property taxes of $1,232, insurance (~$640), and maintenance (~$640), the estimated NOI is $11,663 per year, or $972/mo.
Clovis vs New Mexico state average and national average across key investment metrics. Clovis outperforms both benchmarks on cap rate.