What is the cost of living in New Mexico?

New Mexico has an average cost of living index of 90, which is 19% below the national average of 111. Average monthly rent across tracked cities is $1,550, and average median household income is $68,845.

What is the cheapest city in New Mexico?

Las Cruces is the most affordable city tracked in New Mexico, with a cost index of 75 and median rent of $1,290/month.

What is the most expensive city in New Mexico?

Rio Rancho is the most expensive city tracked in New Mexico, with a cost index of 111 and median rent of $1,902/month.

What is the average rent in New Mexico?

The average monthly rent across 3 tracked cities in New Mexico is $1,550. The cheapest rent is in Las Cruces at $1,290/month.

What is the average household income in New Mexico?

The average median household income across tracked cities in New Mexico is $68,845. The highest-earning city is Rio Rancho at $85,755.

Is New Mexico affordable to live in?

New Mexico's average rent-to-income ratio is 27.1%. Financial advisors recommend keeping rent below 30% of gross income. New Mexico is generally considered affordable, with rent taking less than 30% of typical incomes.