Las Cruces, New Mexico Short-Term Rental Market
Las Cruces, NM STRs averaged $129/night at 60.5% occupancy in April 2026, generating $2,254/month with year-round consistency.
Quick Answer: Las Cruces, New Mexico is an active short-term rental market. average occupancy is 60%. average monthly revenue is $2,215. average daily rate is $129. the top operator is Evolve with 31 listings. market score is 82/100 (grade B).
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Las Cruces is a mid-size New Mexico city of 117,021 residents and the home of New Mexico State University, drawing approximately 750,000 annual visitors through a mix of higher education, government employment, healthcare, and proximity to major natural attractions including Organ Mountains-Desert Peaks National Monument and White Sands National Park. The STR market recorded a $128.66 ADR and 60.5% occupancy in April 2026, generating $2,254 in average monthly revenue. Year-over-year, occupancy grew 4.70%, ADR rose 0.50%, and revenue increased 7.70%.
Entire-place listings account for approximately 92.2% of all inventory, with private rooms at 7.8% and no shared rooms. Three-bedroom configurations are the most common at 33.0% of inventory, followed by one-bedroom (31.5%), two-bedroom (21.5%), four-bedroom (11.9%), and five-bedroom-plus (2.0%). Airbnb is the dominant platform with 486 Airbnb-exclusive listings and 417 cross-listed on both Airbnb and VRBO; VRBO-exclusive listings number only 41, reflecting Airbnb’s strong presence in university and government-sector markets.
The market’s rental demand score of 98.10 and seasonality score of 98.47 (both out of 100) are exceptional, reflecting very consistent year-round visitor and workforce lodging demand. Las Cruces does not follow a tourism-driven seasonal curve; instead, university calendars, government travel, healthcare visitation, and access to national monuments and parks generate demand that remains remarkably stable across all 12 months. The total market score of 82.37 and investability score of 79.45 are among the stronger composite readings for a non-resort market, driven by the combination of above-average occupancy and affordable home prices. Revenue growth scores 40.23, indicating a stable rather than rapidly growing rate environment.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 60% | $105 | $1,814 |
| Feb | 71% | $108 | $1,967 |
| Mar | 71% | $117 | $2,273 |
| Apr | 58% | $110 | $1,845 |
| May | 59% | $114 | $1,824 |
| Jun | 63% | $115 | $1,979 |
| Jul | 62% | $109 | $1,932 |
| Aug | 59% | $104 | $1,695 |
| Sep | 57% | $104 | $1,601 |
| Oct | 60% | $111 | $1,847 |
| Nov | 60% | $110 | $1,767 |
| Dec | 61% | $112 | $1,909 |
Top Short-Term Rental Operators in Las Cruces
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 31 | 820 | ★ 4.59 |
| 2 | Rethink Real Estate | 25 | 2,645 | ★ 4.91 |
| 3 | Desert Sky Realty And Investments | 20 | 641 | ★ 4.80 |
| 4 | Leavetown | 12 | 10 | ★ 4.53 |
| 5 | Prestige Vacays | 3 | 54 | ★ 4.99 |
What Kind of STR Should I Buy in Las Cruces?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 297 |
| 2 bed | 203 |
| 3 bed | 311 |
| 4 bed | 112 |
| 5 bed | 19 |
ADR by Property Tier
| Entire Home | $133 |
| Luxury | $201 |
| Professionally Managed | $141 |
Revenue by Dwelling Type
| Apartment | $1,739 |
| Entire Place | $2,290 |
| House | $2,378 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 51.5% |
| vrbo | 4.3% |
| both | 44.2% |
Investment Analysis
At the April 2026 snapshot, Las Cruces STRs generate an average of $2,254/month across all listing types. Annualized, that projects to approximately $27,048 in gross revenue per listing. Against the typical home value of $290,963 (Zillow estimate, April 2026), this represents a gross revenue yield of approximately 9.3%, one of the stronger gross yield profiles of any mid-size Southwest market. This is a gross figure before platform commissions, management fees, cleaning, and maintenance; net yields will be substantially lower.
Using the 2025 full-year average of $2,140/month for a more conservative annualized projection gives approximately $25,680 in gross revenue and an 8.8% gross yield against the same home value basis. The median sale price of $299,208 and median list price of $353,333 (April 2026) indicate a market where buyers are purchasing below list price (sale-to-list ratio of 0.847), with 694 active listings and a median 31 days to pending, suggesting reasonable but not frenzied buyer activity.
The ADR tier spread is narrow by STR market standards. The luxury tier averages $190/night versus $129 for all listings, a 1.47x multiple. The professionally managed tier averages $147/night, only 14% above the market mean. Entire homes average $133/night. This limited tier spread reflects Las Cruces’ character as an affordable university and government-sector city rather than a luxury or resort destination.
Revenue trend shows a post-2021 recovery pattern: the 2021 peak averaged $2,268/month, softened to $2,001 in 2023, and has since recovered to $2,140 in 2025. The revenue growth score of 40.23 indicates this is a stability-oriented rather than high-growth market.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
Run a Free Address Analysis
Skip the market averages. Get revenue projections, comp analysis, and ROI for your specific property address. Free, instant, no signup required.
Analyze My Property →Home Value Trends (Las Cruces)
Booking Insights
Las Cruces STRs show an average booking lead time of 29.5 days (approximately 4 weeks) and an average length of stay of 3.98 nights as of April 2026.
The 30-day lead window is shorter than most resort markets, reflecting the city’s pragmatic demand base of university visitors, government travelers, and healthcare-related stays. These guest segments tend to book as itineraries are confirmed rather than months in advance. Operators can maintain pricing discipline through the final two weeks before arrival without significant last-minute abandonment risk, given the consistent occupancy baseline.
The 3.98-night average stay is close to 4 nights, suggesting a mix of extended-weekend visits (NMSU event weekends, visits from relatives, conference attendance) and short-term government and contractor relocations that run 3-5 nights. At 3.98 nights per stay, turnover runs approximately 7-8 times per month (30 days divided by 3.98 nights), which is moderate and manageable.
For revenue management, the consistent demand profile means that aggressive early discounting is rarely necessary. Operators who hold rates through the 14-day window before arrival typically fill available inventory at or near listed price, given the non-leisure demand that drives most bookings in this market.
Short-Term Rental Regulations
Short-term rentals are legal in Las Cruces under a registration framework that took effect January 1, 2026, with enforcement beginning July 1, 2026. Every STR unit must obtain both a City of Las Cruces business registration and a registration with Visit Las Cruces. The Visit Las Cruces registration carries a $50 one-time registration fee plus a $35 annual renewal per unit; the city business registration costs an additional $35 per year. Applications are processed through the city’s online self-service portal.
Operators must collect and remit the city’s 5% lodgers tax on gross taxable rent, due by the 25th of each month with late penalties of 10% or $100 (whichever is greater) plus 1% monthly interest. There is no owner-occupancy or primary-residence requirement and no cap on rental nights per year. Occupancy is limited to two people per bed plus two additional people per unit (excluding children under two).
Noise, trash, and parking rules apply equally to STR properties as to other residences. Civil fines for violations range from $50 to $300 for a first offense and $300 to $500 for repeat offenses, with possible registration revocation. Enforcement is classified as moderate.
Properties outside Las Cruces city limits fall under Doña Ana County Ordinance 316-2020, which requires a separate county business registration and county STR permit with different requirements. Operators near but outside city limits should confirm their applicable jurisdiction with the county before registering under the city framework.
Market Comparison
Las Cruces performs above the national median on occupancy and well below it on ADR. The U.S. STR market median occupancy is approximately 55%; Las Cruces’ April 2026 rate of 60.5% and 2025 full-year average of 61.3% both comfortably exceed this threshold. The national median ADR is approximately $220; Las Cruces’ $129 in April 2026 is 41% below, reflecting the affordable market structure and non-luxury guest base.
The STR management landscape is small-scale and owner-operator dominated. Evolve leads with only 31 listings and 820 reviews at a 4.59 average rating. Rethink Real Estate operates 25 listings with an exceptional 4.91 rating across 2,645 reviews. Desert Sky Realty And Investments manages 20 listings (4.80 rating, 641 reviews). Leavetown holds 12 listings (4.53 rating) and Prestige Vacays operates 3 listings with a 4.99 rating (54 reviews).
The small PM market reflects a city where most STR operators self-manage their properties. The high ratings of Rethink Real Estate (4.91) and Prestige Vacays (4.99) suggest that regionally specialized management can achieve excellent guest outcomes in this market.
The total market score of 82.37 and investability score of 79.45 are among the stronger profiles in the dataset for a non-resort market, driven by the combination of high occupancy consistency (rental demand score 98.10) and low entry cost. Investors comparing markets on a risk-adjusted basis will find Las Cruces appealing for its stable demand fundamentals, even though the revenue ceiling is lower than in premium resort markets.
Frequently Asked Questions About Las Cruces, New Mexico
What is the average daily rate for Las Cruces short-term rentals?
Do I need to register an STR in Las Cruces?
What taxes apply to Las Cruces short-term rentals?
How consistent is occupancy year-round in Las Cruces?
What is the average monthly revenue for a Las Cruces STR?
What attracts visitors to Las Cruces?
Who are the top property managers in Las Cruces?
Analyze Las Cruces Rentals
Use our free calculator to estimate Airbnb revenue for any property in Las Cruces.
Free Las Cruces STR Calculator →
