Cost of Living in New Mexico
11 cities • 1,141,540 total population • 2026 Data
$62,933
Avg. Median Income
-19% vs national
$1,076
Avg. Median Rent
-20% vs national
$220,991
Avg. Home Value
-35% vs national
5.8%
Avg. Unemployment
Overview
New Mexico has 11 cities with populations over 25,000, totaling 1,141,540 residents. The average median household income across these cities is $62,933, which is 19% below the national median.
Rent averages $1,076 per month, and the average home value is $220,991. The largest city is Albuquerque, while Roswell offers the lowest rent and Rio Rancho has the highest.
Most Affordable Cities in New Mexico
| # | City | Median Rent | Median Income | Home Value |
|---|---|---|---|---|
| 1 | Roswell | $840 | $50,294 | $139,200 |
| 2 | Alamogordo | $886 | $52,515 | $163,600 |
| 3 | South Valley | $942 | $51,062 | $205,200 |
| 4 | Las Cruces | $946 | $55,176 | $217,400 |
| 5 | Clovis | $947 | $54,029 | $160,000 |
Most Expensive Cities in New Mexico
| # | City | Median Rent | Median Income | Home Value |
|---|---|---|---|---|
| 1 | Rio Rancho | $1,481 | $85,755 | $273,300 |
| 2 | Santa Fe | $1,380 | $70,110 | $411,500 |
| 3 | Carlsbad | $1,206 | $78,277 | $187,900 |
| 4 | Hobbs | $1,132 | $65,691 | $180,700 |
| 5 | Albuquerque | $1,085 | $65,604 | $266,700 |
Highest Income Cities in New Mexico
| # | City | Median Income | Median Rent | Population |
|---|---|---|---|---|
| 1 | Rio Rancho | $85,755 | $1,481 | 106,533 |
| 2 | Carlsbad | $78,277 | $1,206 | 31,813 |
| 3 | Santa Fe | $70,110 | $1,380 | 88,224 |
| 4 | Hobbs | $65,691 | $1,132 | 39,887 |
| 5 | Albuquerque | $65,604 | $1,085 | 562,488 |
All Cities in New Mexico
| City | Population | Income | Rent | Home Value |
|---|---|---|---|---|
| Albuquerque | 562,488 | $65,604 | $1,085 | $266,700 |
| Las Cruces | 112,612 | $55,176 | $946 | $217,400 |
| Rio Rancho | 106,533 | $85,755 | $1,481 | $273,300 |
| Santa Fe | 88,224 | $70,110 | $1,380 | $411,500 |
| Roswell | 47,823 | $50,294 | $840 | $139,200 |
| Farmington | 46,339 | $63,745 | $993 | $225,400 |
| Hobbs | 39,887 | $65,691 | $1,132 | $180,700 |
| Clovis | 38,153 | $54,029 | $947 | $160,000 |
| South Valley | 36,605 | $51,062 | $942 | $205,200 |
| Carlsbad | 31,813 | $78,277 | $1,206 | $187,900 |
| Alamogordo | 31,063 | $52,515 | $886 | $163,600 |
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. State averages calculated from cities with population over 25,000.