Cost of Living in New Mexico
Overall index: 93.7 — ranked #31 of 51 (near the national average).
Where your money goes in New Mexico
Estimated spending breakdown on a $75,000 salary in New Mexico
Estimated annual spending: $60,806($14,194 remaining)
What things cost in New Mexico
| Item | New Mexico | US Average | Difference |
|---|---|---|---|
| Median home price | $290,000 | $360,000 | $-70,000 |
| Average 2BR rent | $1,240/mo | $1,400/mo | $-160 |
| Gas (regular) | $3.42/gal | $3.50/gal | $0.08 |
| Electric bill | $81/mo | $137/mo | $56 |
| Infant childcare | $14,244/yr | $13,500/yr | +$744 |
| Dozen eggs | $4.80 | $4.95 | $0.15 |
| Monthly groceries | $398/mo | $410/mo | $12 |
Sources: AAA gas prices, EIA electricity, Zillow ZHVI, Child Care Aware, MERIC/C2ER indices. Eggs and groceries estimated from MERIC grocery index applied to BLS averages.
Cost of living index by category
National average = 100 for each category
Salary equivalent: New Mexico vs national average
What a salary in New Mexico is actually worth in national-average purchasing power.
| Salary | Purchasing power | Difference |
|---|---|---|
| $50,000 | $46,850 | $-3,150 |
| $75,000 | $70,275 | $-4,725 |
| $100,000 | $93,700 | $-6,300 |
| $125,000 | $117,125 | $-7,875 |
| $150,000 | $140,550 | $-9,450 |
| $200,000 | $187,400 | $-12,600 |
Negative difference means your money goes further in New Mexico than the national average.
Compare New Mexico with other states
FAQ
What is the cost of living in New Mexico?
New Mexico has an overall cost-of-living index of 93.7, making it near the national average (ranked #31 of 51 states, where #1 is most expensive). The national average is 100. Housing is the biggest factor — median home prices are $290,000 and average 2-bedroom rent is $1,240/month.
Is New Mexico expensive to live in?
No, New Mexico is more affordable than most states with an overall index of 93.7 (average = 100). Housing is particularly affordable at 88.6% of the national average.
How much does housing cost in New Mexico?
The median home price in New Mexico is $290,000 and average 2-bedroom rent is $1,240/month. New Mexico's housing index is 88.6 (national average = 100), meaning housing is 11.400000000000006% below the national average.
How much are groceries in New Mexico?
New Mexico's grocery index is 97 (national average = 100). A dozen eggs costs approximately $4.80 and a typical monthly grocery bill for a household runs about $398, compared to the national average of $410.
What is the average electric bill in New Mexico?
The average monthly electric bill in New Mexico is $81 based on the state's residential rate of 9.18¢/kWh and average household consumption of 886 kWh/month (EIA 2024).
How much does childcare cost in New Mexico?
Center-based infant childcare in New Mexico averages $14,244/year ($1,187/month). The national average is approximately $13,500/year. This data is from Child Care Aware of America's 2024 report.
What salary do I need to live comfortably in New Mexico?
A $75,000 salary in New Mexico has the same purchasing power as $80,043 at the national average cost of living. Your salary goes about as far as the national average. Use the calculator above with your specific salary to see how it compares.
Where does this 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
- New Mexico Paycheck Calculator — Calculate take-home pay after New Mexico taxes
- House Affordability in New Mexico — How much house can you afford?
- Take-Home Pay by State — Compare New Mexico take-home pay across all 50 states
- Compare Job Offers — Factor in salary, equity, and cost of living
- Compare any two states
Based on MERIC/C2ER 2025 indices, AAA gas prices (March 2025), EIA electricity rates (2024), Child Care Aware childcare costs (2024), and Zillow home values (2024-2025). Individual costs vary by city, neighborhood, and lifestyle.