Free New Mexico (NM) cost of living calculator with 2026-specific rates. Calculate your exact cost of living using real New Mexico data.
New Mexico has a cost of living index of 92, where 100 represents the national average. This means living in New Mexico is about 8% less expensive than the national average.
With an index of 92, New Mexico falls in the moderate range for cost of living. Key factors include the median home price of $275,000, state income tax up to 5.9%, and average insurance costs.
The median household income in New Mexico is $54,000. With a cost of living index of 92 and median home price of $275,000, a comfortable salary depends on your household size, location within the state, and lifestyle. Use our calculator to compare costs across states.