New Mexico security deposit law

Read from the statute itself on 2026-11-09. Statewide rule; a city or county can add its own.

Maximum deposit: Depends — see the rule
Return deadline: 30 days
Interest: Required in some cases

Lease under 1 year: capped at one month's rent. Lease of 1 year or more: no cap, but a deposit above one month's rent earns annual interest at the passbook rate. Return within thirty days after the agreement ends or the tenant leaves, whichever is later.

Source: NMSA 1978 § 47-8-18(A), (C) · read on 2026-11-09

Calculate it for your rent

State

Monthly rent ($)

The cap depends on your situation

Return deadline

30 days

Within 30 days after the rental agreement ends or the tenant leaves, whichever is later: an itemized written list of deductions and the balance.

Interest required

Yes

In some situations — see the note

Source: NMSA 1978 § 47-8-18(A), (C) · read on 2026-11-09

New Mexico: common questions

How much can a landlord charge for a security deposit in New Mexico?

How long does a landlord have to return a security deposit in New Mexico?

30 days. Within 30 days after the rental agreement ends or the tenant leaves, whichever is later: an itemized written list of deductions and the balance.

Not legal advice. Confirm with a local landlord-tenant attorney before relying on a figure.

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<p style="font-size:13px;margin:4px 0 0">Free <a href="https://www.proprietio.com/tools/security-deposit-calculator">security deposit calculator by state</a> by Proprietio.</p>