Free Tool
New Mexico Security Deposit Calculator
Check if your security deposit complies with New Mexico law. Maximum: 1x rent. 30-day return deadline.
Your Deposit
$1,800.00
New Mexico Maximum
$1,800.00 (1x rent)
Return Deadline
30 calendar days after move-out
New Mexico Security Deposit Rules
Deposit Limits
- Maximum allowed
- 1x rent
- At $1,800.00/mo
- $1,800.00
- Pet deposit
- Allowed
Return & Holding
- Return deadline
- 30 calendar days
- Escrow required
- No
- Interest required
- No
- Itemized statement
- Required
Interest requirement: Only on 1yr+ leases when the deposit exceeds one month's rent (annual passbook-rate interest)
Statute: N.M. Stat. § 47-8-18
The 1-month cap applies only to lease terms UNDER one year. Leases of 1 year+ have no cap, but any deposit above one month's rent must earn annual passbook-rate interest. Itemized deductions + balance due within 30 days.
Laws change quietly. California cut its deposit cap to one month in 2024, New York in 2019. Get an email when New Mexico changes its rules — and what to update in your lease.
Landlord Law Watch — $29/yr →View all states or try the late fee calculator.
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