General information only, not legal advice. Laws change. Verify requirements with a licensed attorney or the statute before acting. Last reviewed: June 2026.
Security Deposit · NM
New Mexico security deposit law
Key rules for landlords and tenants in New Mexico, cited to NMSA § 47-8-18.
At a glance
- Max deposit
- 1 month's rent (leases under 1 year); no cap on annual leases (with interest required if deposit exceeds 1 month)
- Return deadline
- 30 days after move-out
- Interest required
- No
- Statute
- NMSA § 47-8-18
- Last reviewed
- June 2026
Frequently asked questions
What is the maximum security deposit in New Mexico?
1 month's rent (leases under 1 year); no cap on annual leases (with interest required if deposit exceeds 1 month). (NMSA § 47-8-18, last reviewed June 2026.)
How long does a landlord have to return a security deposit in New Mexico?
30 days after move-out. The landlord must provide an itemized statement of any deductions. Failure to return on time may entitle the tenant to penalties under NMSA § 47-8-18.
Is interest required on security deposits in New Mexico?
No. New Mexico does not require landlords to pay interest on security deposits under state law.
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