Cost of Living in New Mexico
New Mexico has 11 cities with cost-of-living data on CompareLiving, drawn from US Census, BEA, HUD, and EPA sources. Median rent is lowest in Roswell at $876/mo and highest in Rio Rancho at $1,514/mo.
New Mexico at a Glance
Cities Tracked
11
with census data
Avg Cost Index
93.6
US avg = 100
Avg Median Rent
$1,109
per month
Avg Household Income
$64,773
annual median
Most & Least Affordable Cities
Most Affordable
| # | City | Cost Index |
|---|---|---|
| 1 | Albuquerque | 93.6 |
Most Expensive
| # | City | Cost Index |
|---|---|---|
| 1 | Albuquerque | 93.6 |
Cost Index = BEA Regional Price Parity (US avg = 100)
Popular Cities in New Mexico
Explore New Mexico Cities in Depth
Climate & Weather in New Mexico
Healthcare & Hospitals in New Mexico
Neighborhoods in New Mexico
Jobs & Industries in New Mexico
New Mexico Cities — Full Table
Click columns to sort
| Albuquerque | 562,218 | 93.6 | $1,145 | $291,500 | $68,317 |
| Las Cruces | 114,197 | — | $974 | $231,700 | $55,422 |
| Rio Rancho | 108,515 | — | $1,514 | $310,200 | $89,596 |
| Santa Fe | 89,019 | — | $1,463 | $444,900 | $73,482 |
| Roswell | 47,638 | — | $876 | $152,600 | $51,583 |
| Farmington | 46,314 | — | $1,037 | $233,000 | $68,784 |
| Hobbs | 40,252 | — | $1,112 | $191,300 | $64,021 |
| Clovis | 37,942 | — | $988 | $169,400 | $54,820 |
| South Valley | 37,120 | — | $954 | $224,300 | $58,224 |
| Carlsbad | 31,746 | — | $1,236 | $200,000 | $72,306 |
| Alamogordo | 31,307 | — | $902 | $172,900 | $55,952 |
Cost Index = BEA Regional Price Parity (US avg = 100) · Income & Rent = US Census ACS
Compare New Mexico cities head-to-head
Use our comparison tool to put any two cities side by side. Or explore national rankings to see how New Mexico cities stack up across the US. For example, Albuquerque vs Las Cruces.
Frequently Asked Questions about Cost of Living in New Mexico
What is the cost of living in New Mexico?
The average cost of living index across cities in New Mexico is approximately 93.6 (US average = 100), which is slightly below the US average. Median gross rent averages around $1,109/month and median household income averages around $64,773/year.
What are the cheapest cities to live in New Mexico?
The most affordable cities in New Mexico by cost of living index are: 1. Albuquerque (index 93.6).
What is the median rent in New Mexico?
The average median gross rent across cities in New Mexico is approximately $1,109/month. Rent varies significantly by city and neighborhood — use the city profiles below for specific figures.
What are the income tax rates in New Mexico?
State income tax information for New Mexico is not yet available in our database.
What is the sales tax in New Mexico?
Sales tax information for New Mexico is not yet available in our database.
Is it expensive to move to New Mexico?
New Mexico has a cost of living index of approximately 93.6 and average median rent around $1,109/month. It is generally more affordable than the US average, which can offset moving costs over time. Use our moving guides for salary equivalence calculations.
Data last updated: June 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, Tax Foundation · Methodology