Security deposit rules in New Mexico
In New Mexico, the deposit is at most 1 month of rent on a lease shorter than a year; above that a yearly lease must pay interest. In New Mexico, an itemized list and the balance are due 30 days after the lease ends or the tenant leaves, whichever is later.
Checked against New Mexico law on Oct 28, 2026.
What New Mexico law says
What is the most a landlord can charge for a security deposit in New Mexico?
In New Mexico, the deposit is at most 1 month of rent on a lease shorter than a year; above that a yearly lease must pay interest.
Source: N.M. Stat. Ann. § 47-8-18(A), read Oct 28, 2026.
How long does a landlord in New Mexico have to return a security deposit?
In New Mexico, an itemized list and the balance are due 30 days after the lease ends or the tenant leaves, whichever is later.
Source: N.M. Stat. Ann. § 47-8-18(C), read Oct 28, 2026.
Check your city's rules too: a city or county can set stricter limits. This is general information, not legal advice.