Indiana vs New Mexico Cost of Living
Purchasing power
Your $75,000 is worth different amounts in each state
$82,690
in Indiana
$80,043
in New Mexico
Each cell = 1% of purchasing power. Green = value, red = gap.
Spending breakdown
Estimated annual spending on a $75,000 salary
What things actually cost
Real dollar costs side by side
Category breakdown
| Category | Indiana | New Mexico | Difference |
|---|---|---|---|
| Housing | 75.4 | 88.6 | -15% |
| Groceries | 99.2 | 97.0 | +2% |
| Utilities | 95.0 | 83.8 | +13% |
| Transportation | 101.0 | 93.6 | +8% |
| Healthcare | 96.3 | 108.3 | -11% |
| Dining & Misc | 95.8 | 97.2 | -1% |
| Overall | 90.7 | 93.7 | -3% |
Index values relative to national average (100). Positive difference = more expensive in Indiana.
What things actually cost
| Item | Indiana | New Mexico | Difference |
|---|---|---|---|
| Median home price | $230,000 | $290,000 | $60,000 |
| Average 2BR rent | $1,056/mo | $1,240/mo | $184 |
| Gas price | $3.49/gal | $3.42/gal | +$0.07 |
| Electric bill | $101/mo | $81/mo | +$20 |
| Infant childcare | $14,471/yr | $14,244/yr | +$227 |
Salary equivalent: Indiana → New Mexico
What a Indiana salary buys you in New Mexico, adjusted for cost of living.
| Salary in Indiana | Equivalent in New Mexico | Difference |
|---|---|---|
| $50,000 | $51,654 | $-1,654 |
| $75,000 | $77,481 | $-2,481 |
| $100,000 | $103,308 | $-3,308 |
| $150,000 | $154,961 | $-4,961 |
| $200,000 | $206,615 | $-6,615 |
Positive = your money goes further in New Mexico. Based on overall COL index ratio.
Based on MERIC/C2ER 2025 composite indices. Dollar amounts from AAA, EIA, Zillow, and Child Care Aware.
Overview
New Mexico is 3% more expensive than Indiana overall. New Mexico has an index of 93.7 vs 90.7 for Indiana (national average = 100).
FAQ
Is it cheaper to live in Indiana or New Mexico?
Indiana is cheaper to live in. New Mexico is 3% more expensive overall. The biggest driver is housing — median home prices are $230,000 in Indiana vs $290,000 in New Mexico.
Is Indiana cheaper than New Mexico?
Yes, Indiana is 3% cheaper than New Mexico overall based on the MERIC/C2ER cost-of-living index. Housing, groceries, and utilities all factor into the difference.
Is New Mexico more expensive than Indiana?
Yes, New Mexico is 3% more expensive than Indiana based on the MERIC/C2ER composite index. Housing is typically the largest factor in the difference.
What salary in New Mexico equals $100,000 in Indiana?
To maintain the same purchasing power as a $100,000 salary in Indiana, you would need approximately $103,308 in New Mexico. This is based on the overall cost-of-living index (90.7 vs 93.7).
How do housing costs compare between Indiana and New Mexico?
Housing is significantly cheaper in Indiana. Median home prices are $230,000 in Indiana vs $290,000 in New Mexico — a $60,000 difference. Average 2-bedroom rent is $1,056/mo vs $1,240/mo.
What costs more in Indiana vs New Mexico?
Housing is 15% lower in Indiana (index 75.4 vs 88.6). Healthcare is 11% lower in Indiana (index 96.3 vs 108.3). Utilities is 13% higher in Indiana (index 95 vs 83.8).
Is gas cheaper in Indiana or New Mexico?
Gas averages $3.49/gallon in Indiana and $3.42/gallon in New Mexico — a $0.07 difference per gallon.
Indiana vs New Mexico cost of living — how do they compare?
Indiana has an overall cost-of-living index of 90.7 and New Mexico has 93.7 (national average = 100). New Mexico is 3% more expensive overall. Use the calculator above to see how this affects your specific salary.
How do taxes compare between Indiana and New Mexico?
Cost of living is only part of the picture — state income taxes also affect your take-home pay. Indiana has a flat state income tax of 2.95% for 2026, one of the lowest flat rates in the country. New Mexico uses a progressive income tax with 4 brackets and a top rate of 5.90% on income over $210,000. Use the Indiana vs New Mexico paycheck comparison to see how a specific salary compares after federal and state taxes, FICA, and deductions.
Do I need to file state tax returns in Indiana and New Mexico?
Indiana requires residents to file a state income tax return annually, typically due April 15. New Mexico requires residents to file a state income tax return annually, typically due April 15. If you move between states mid-year, you typically file a part-year resident return in each state for the income earned while living there.
Where does this cost of living data come from?
Cost-of-living indices are from the MERIC/C2ER 2025 Annual Average. Dollar amounts use AAA gas prices (March 2025), EIA electricity rates (2024), Child Care Aware childcare costs (2024), Zillow home values (2024-2025), and BEA Regional Price Parities.
Related tools
- Indiana Cost of Living — Housing, groceries, gas, and more
- New Mexico Cost of Living — Housing, groceries, gas, and more
- Indiana vs New Mexico Paycheck Comparison — Compare take-home pay after taxes
- House Affordability in Indiana — How much house can you afford?
- House Affordability in New Mexico — How much house can you afford?
- Indiana Tax Brackets — See 2026 marginal rates
- New Mexico Tax Brackets — See 2026 marginal rates
- Indiana Mortgage Calculator — Estimate monthly payments with local rates
- New Mexico Mortgage Calculator — Estimate monthly payments with local rates
- Indiana Bonus Tax Calculator — See how bonuses are taxed differently
- New Mexico Bonus Tax Calculator — See how bonuses are taxed differently
- Gross-Up Calculator — Find the salary you need to hit a target take-home
- Salary to Hourly Converter — Convert annual salary to hourly rate
- Compare any two states
Based on MERIC/C2ER 2025 composite indices and publicly available price data. Cost of living varies significantly by metro area within a state. These are statewide averages.