Cost of Living in New Mexico
Housing costs, rent, income, and affordability for 491 cities in NM. Updated 2026.
Understanding the cost of living in New Mexico is essential whether you're planning a move, comparing job offers, or evaluating real estate investments. This page breaks down housing costs, rent prices, and median household income for every city in New Mexico, with comparisons to national averages.
New Mexico's average home value of $160,920 is 34% below the national median of $244,900. The average median household income is $46,696, and average monthly rent is $370.
Most Affordable Cities in New Mexico
Cities with population 5,000+ ranked by lowest median home value.
| # | City | Home Value | Rent | Income | Population |
|---|---|---|---|---|---|
| 1 | Tucumcari | $56,400 | $751/mo | $39,915 | 5,197 |
| 2 | Zuni Pueblo | $79,200 | $565/mo | $43,021 | 6,132 |
| 3 | El Cerro Mission | $101,000 | $1,289/mo | $49,719 | 5,101 |
| 4 | Shiprock | $101,500 | $693/mo | $41,563 | 8,339 |
| 5 | Chaparral | $101,900 | $874/mo | $46,102 | 16,642 |
| 6 | Truth or Consequences | $107,500 | $676/mo | $29,142 | 6,026 |
| 7 | Anthony | $110,800 | $550/mo | $33,141 | 8,701 |
| 8 | Deming | $112,800 | $596/mo | $35,920 | 14,735 |
| 9 | Grants | $123,600 | $750/mo | $49,286 | 9,106 |
| 10 | Portales | $132,900 | $870/mo | $51,290 | 12,023 |
| 11 | Gallup | $134,600 | $858/mo | $57,466 | 21,333 |
| 12 | Roswell | $139,200 | $840/mo | $50,294 | 47,823 |
| 13 | Las Vegas | $143,900 | $731/mo | $42,732 | 13,120 |
| 14 | Raton | $148,200 | $734/mo | $52,007 | 6,013 |
| 15 | Belen | $154,600 | $877/mo | $40,354 | 7,427 |
Most Expensive Cities in New Mexico
| # | City | Home Value | Rent | Income | Population |
|---|---|---|---|---|---|
| 1 | Corrales | $549,700 | $1,184/mo | $114,207 | 8,557 |
| 2 | Eldorado at Santa Fe | $542,800 | $2,132/mo | $96,692 | 5,746 |
| 3 | White Rock | $460,100 | $0/mo | $150,714 | 5,568 |
| 4 | Los Alamos | $458,200 | $1,304/mo | $136,502 | 13,471 |
| 5 | Los Ranchos de Albuquerque | $442,100 | $990/mo | $70,801 | 5,869 |
| 6 | Taos | $432,700 | $915/mo | $46,579 | 6,468 |
| 7 | Santa Fe | $411,500 | $1,380/mo | $70,110 | 88,224 |
| 8 | North Valley | $290,500 | $1,063/mo | $67,115 | 11,474 |
| 9 | Edgewood | $278,100 | $938/mo | $81,227 | 6,122 |
| 10 | Rio Rancho | $273,300 | $1,481/mo | $85,755 | 106,533 |
Highest Income Cities in New Mexico
| # | City | Median Income | Home Value | Population |
|---|---|---|---|---|
| 1 | White Rock | $150,714 | $460,100 | 5,568 |
| 2 | Los Alamos | $136,502 | $458,200 | 13,471 |
| 3 | Corrales | $114,207 | $549,700 | 8,557 |
| 4 | Eldorado at Santa Fe | $96,692 | $542,800 | 5,746 |
| 5 | North Hobbs | $89,279 | $233,200 | 6,099 |
| 6 | Rio Rancho | $85,755 | $273,300 | 106,533 |
| 7 | Edgewood | $81,227 | $278,100 | 6,122 |
| 8 | Carlsbad | $78,277 | $187,900 | 31,813 |
| 9 | Artesia | $77,647 | $213,800 | 12,555 |
| 10 | Los Ranchos de Albuquerque | $70,801 | $442,100 | 5,869 |
Cost of Living FAQ — New Mexico
What is the average cost of living in New Mexico?
The average median home value across New Mexico cities is $160,920, with average rent of $370/month. The average median household income is $46,696.
What are the cheapest cities in New Mexico?
The most affordable cities in New Mexico by home value include Tucumcari ($56,400), Zuni Pueblo ($79,200), El Cerro Mission ($101,000).
What is the most expensive city in New Mexico?
The most expensive city in New Mexico is Corrales with a median home value of $549,700.
How does New Mexico compare to the national average?
New Mexico's average home value of $160,920 is below the national median of $244,900. Median rent of $370/month is below the US average of $1,163.