New Mexico is a state in the Southwestern United States.
It is one of the Mountain States of the southern Rocky Mountains, bordering Texas, Oklahoma, Chihuahua, and Sonora.
Moreover, New Mexico is the fifth-largest state of the fifty American states.
With just over 2.1 million residents, this state ranks in 36th place by population.
This land of wine and chile has a mix of lovely things to do and see.
But have you ever wondered about the cost of living in New Mexico?
Does New Mexico have a high or low cost of living?
Moreover, are you interested in which cities in New Mexico are the highest prices for a living?
If you answered yes to these questions, keep reading the text below, and we will give answers to all your doubts.
Contents
The Cost of Living in This State
First of all, when you think about New Mexico for living, you are asking yourself about the costs of living.
What are the housing costs and utilities for monthly basics?
Well, New Mexico has a low cost of living.
In fact, the cost of living is about 3.2% lower than the national average.
The average home in New Mexico costs roughly $150,450.
As for renting prices, they are also at affordable prices.
A one-bedroom apartment is only $600, while a unit with four or more rooms is not above $800.
Utility Costs
Utilities in New Mexico are pretty inexpensive, compared to utility costs anywhere else in America.
Of course, they change significantly, relying on how much you use electricity and gas and the proportions of your residence.
However, we can say that in this Land of Enchantment (as a nickname for New Mexico), it is calculated a rough 100$ per month for an apartment of around 65 m2, including bills for electricity, gas, water, and warming.
The price for an Internet connection is roughly $48.50.
Restaurants, Supermarkets, and Transportation
Restaurants
When it comes to New Mexico, this state has a variety of places to eat and numerous supermarkets where you can buy food.
All of the restaurants in each city have been serving delicious Mexican food in a friendly atmosphere.
Due to various types of restaurants, the restaurant prices would absolutely grow.
Supermarkets
As we mention supermarkets, there is no doubt that it is cheaper than eating out daily.
Markets in New Mexico always offer fresh goods.
But compared to prices in America statewide, prices in New Mexico are not so high.
On the other hand, the prices for fresh vegetables and fruits are widely available and affordable compared to prices in another state in America.
Transportation
The last one – transport costs are basically the same as the states in the U.S.
New Mexico has multiple forms of transportation for everyone – from public transit to bikes.
Public transit options are available everywhere in New Mexico and definitely, are the lowest costed means of transport here.
Gasoline (1 liter) is $0.90, and the monthly public transit pass is $45.40, which is a not-so-high price.
The Top Five Expensive Cities in This State
Just as the cost of living varies from state to state, it varies from city to city within states.
Here are the five most expensive places to live in New Mexico.
Santa Fe
Nicknamed “The City Different,” Santa Fe is the capital city of New Mexico.
It is an old state with an impressive history.
Santa Fe has gorgeous scenery, attractive architecture, and many other things that make this state a delightful place to live, work, and play.
But, besides New Mexico’s cost of living being below the national average, it is higher comparing the other cities in this state.
For example, a small bottle of water is $2.10, and a gallon of milk in supermarkets is $2.35.
Furthermore, a loaf of bread is $2.50, a dozen eggs are $2.91, and a pound of bananas is $2.88.
The average home value in Santa Fe is $193,500, which is really a fancy price for this state.
About childcare, the average cost of childcare full-time, per month, is $845.
Albuquerque
This city is known for its remarkable geography, including watermelon-colored mountains and an exotic river.
But, the average cost of living in Albuquerque is $1612, which is in the top 35% of the most expensive cities in the world.
The cost of living for one person without rent is $645, while only rent and utilities for one person in this city are $1355.
Dinner in a restaurant for two people is much above $45.
On top of that, in Albuquerque, the average cost of childcare per month is incredibly $1000.
Las Cruces
One of the best parts of moving to Las Cruces is the captivating scenery.
Swirling shades of purples, pinks, and vibrant oranges paint the sky almost every evening.
Living in this city, the housing costs are about to be 13% lower than the national average, and the utility prices are almost equal to the national average.
With that said, the regular home price is $300.650, while the average rent per month is $957.65.
Rio Rancho
Rio Rancho is one of the largest cities in Sandoval County, which is part of the extensive Albuquerque metropolitan area in New Mexico.
Besides, Rio Rancho is in third place by size city in New Mexico and one of the most enormously growing.
As for the cost of living here, there is no doubt that Rio Rancho is one of the most expensive cities in New Mexico.
Since this city has one of the best schools – studying here is the most costly part of living.
And not to mention the healthcare services in this Southwestern city.
For one doctor’s visit, you should expect to pay around $112.
Roswell
Roswell is known as a beautiful city with something for everyone.
But it is the most costly one too.
The utility bill for basic like electricity, heating, cooling, water, and garbage is above $110.
That price is enormously high compared to other cities in New Mexico.
The average home price is $186.000, and the average rent for a one-bedroom apartment monthly is almost $800.
New Mexico Safety Overview
READ THE FULL REPORT: New Mexico Safety Review
Safety Index:
- OVERALL RISK: MEDIUM
- TRANSPORT & TAXIS RISK: LOW
- PICKPOCKETS RISK: MEDIUM
- NATURAL DISASTERS RISK: LOW
- MUGGING RISK: LOW
- TERRORISM RISK: LOW
- SCAMS RISK: LOW
- WOMEN TRAVELERS RISK: LOW
Additional Resources
Cost of Living in Oklahoma Cities: These Are the Top 5
Cost of Living in Colorado Cities: These Are the Top 5
Cost of Living in Alaska Cities: These Are the Top 5
Cost of Living in Nebraska Cities: These Are the Top 5
Cost of Living in Montana Cities: These Are the Top 5
Cost of Living in Texas Cities: These Are the Top 5
