Carlsbad cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexCarlsbadNew MexicoNational
Cost of living index88n/a100
IndexCarlsbadNew MexicoNational
Goods & Services index100n/a100
Groceries index90n/a100
Health care index103n/a100
Housing index67n/a100
Transportation index96n/a100
Utilities index100n/a100
Here we can see a simple outline of the cost of living in Carlsbad, NM. As you can see, with the average cost of living in Carlsbad, NM being 88, that puts it equal to the average of New Mexico and 12% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Carlsbad, NM, the price of goods and services are equal to the average of New Mexico as well as equal to the nation's average.

Did you know?

  • The cost of living in Carlsbad is equal to the New Mexico average.
  • The cost of living in Carlsbad is 12% lower than the national average.
  • The cost of housing in Carlsbad is 33% lower than the national average.
  • New Mexico general sales tax is 1% higher than the national average.
  • New Mexico state income tax is 24% lower than the national average.

Find Real Estate Listings In Carlsbad

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Carlsbad

Compare Carlsbad, NM Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is used in order to provide a comparison of your current salary in Carlsbad, NM to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Carlsbad, NM, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Carlsbad, NM salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$54,665$4,555$1,275$1,640
Renters$37,360$3,113$872$1,121
The affordability of the housing market in Carlsbad, NM as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Carlsbad, NM homeowners, the median income is $54,665. This indicates that a monthly maximum of $1,275 should be spent by homeowners on all housing related costs. Renters have a median income of $37,360. This indicates that renters should have a maximum of $872 used for their rent related monthly costs.

New Mexico Sales Tax

StateGeneral Sales TaxWith Max Surtax
New Mexico5.125%8.688%

New Mexico Income Tax

StateIncome Tax (Low)Income Tax (High)
New Mexico1.7%4.9%
The New Mexico sales tax and New Mexico income tax rates should definitely be considered when determining the overall cost of living in Carlsbad, NM. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The New Mexico sales tax is 5.125% and the maximum surtax is 8.688%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The New Mexico income tax rates range from 1.7% to 4.9%.

Goods & Services

ItemCarlsbadNational avg.Difference
Haircut $13.75$14.595.8%
Beauty Salon $36.25$34.684.5%
Toothpaste $2.50$2.471.1%
Shampoo $0.87$1.0214.9%
Movie $9.88$9.870.1%
Bowling $4.50$4.392.5%

Groceries

ItemCarlsbadNational avg.Difference
Ground Beef $4.96$4.4810.8%
Fried Chicken $1.33$1.469.2%
Milk $2.00$2.3615.1%
Potatoes $2.11$3.0631.1%
Pizza $9.49$9.242.7%
Beer $9.06$8.634.9%

Health Care

ItemCarlsbadNational avg.Difference
Optometrist $97.67$99.782.1%
Doctor $117.50$105.0311.9%
Dentist $87.50$88.701.4%
Ibuprofen $10.14$9.417.7%
Lipitor $293.92$298.501.5%

Housing

ItemCarlsbadNational avg.Difference
Home Price $107,300.00$175,700.0038.9%
Avg. Mortgage Payment $1,005.43$1,081.037.0%
Apartment Rent $740.00$920.0019.6%

Transportation

ItemCarlsbadNational avg.Difference
Gasoline $2.08$2.090.6%
Tire Balancing $39.50$45.2912.8%

Utilities

ItemCarlsbadNational avg.Difference
All Electricity$171.15$170.800.2%
Phone $28.00$28.260.9%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Happy Valley, NM93082-18%
Loving, NM1,52485-15%
Livingston Wheeler, NM44484-16%
Malaga, NM6397-3%
La Huerta, NM1,4671055%
Carlsbad, NM26,99688-12%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Saratoga Springs, NY26,99812424%
Stockbridge, GA26,99296-4%
Redmond, OR27,0021077%
Aberdeen, SD26,97988-12%
Easton, PA26,9771011%
Carlsbad, NM26,99688-12%
Source: The Carlsbad, NM cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.