New Mexico Purchasing Cost Estimate
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FAQ
Low Cost of Living New Mexico is renowned for its low cost of living, about 3.1% lower than the national average. The average home in New Mexico costs roughly $151,000.
The majority of New Mexico enjoys a lower cost of living than the national average. Albuquerque is more expensive than other areas in New Mexico. The cost of living in Albuquerque is $50,000 to $60,000 per year. Housing costs in Albuquerque, New Mexico average nearly $20,000 every year.
Low Cost of Living New Mexico is renowned for its low cost of living, about 3.1% lower than the national average. The average home in New Mexico costs roughly $151,000.
50 percent for necessities: $21,222. 30 percent for discretionary spending: $12,734. 20 percent for savings: $8,489. Income needed to live comfortably: $42,445 (down $1,450 from 2016)
Compared to all other states, New Mexico ranks in the top half of both the most affordable states to live in and the state with the lowest average taxes paid per household. This makes it a state that isn't overpriced and is reasonable in order to experience some of the other great things on this list.
The 5 Most Affordable Cities in New MexicoSanta Fe. Founded by the Spanish in 1610, Santa Fe, which is also the state capital, has a lot of history.Alamogordo.Rio Rancho.Carlsbad.Hobbs.
A WalletHub study has compared the states on 52 indicators of livability and has determined that New Mexico ranks 50th as 2021's best states to live in. The states were compared across five factors including affordability, economy, education and health, quality of life, and safety.
The income needed to live comfortably in New Mexico is $42,445. 50% of this is for necessities, 30% is for discretionary spending, and 20% is for savings. According to Living Wage, a single person with no children can live off of $13.97 per hour in Mexico, or $26,880 a year.
