El Cerro Mission 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.
IndexEl Cerro MissionNew MexicoNational
Cost of living index82n/a100
IndexEl Cerro MissionNew MexicoNational
Goods & Services index93n/a100
Groceries index103n/a100
Health care index89n/a100
Housing index54n/a100
Transportation index98n/a100
Utilities index88n/a100
Displayed above is a general overview of the El Cerro Mission, NM cost of living index. The overall cost of living index in El Cerro Mission, NM is 82, which is equal to the New Mexico average and 18% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in El Cerro Mission, NM are equal to the New Mexico average and 7% lower than the national average.

Did you know?

  • The cost of living in El Cerro Mission is equal to the New Mexico average.
  • The cost of living in El Cerro Mission is 18% lower than the national average.
  • The cost of housing in El Cerro Mission is 46% 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.

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Compare El Cerro Mission, NM Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in El Cerro Mission, NM to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in El Cerro Mission, NM, then you would need to earn more income in order to maintain the same standard of living. To use the El Cerro Mission, NM salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$35,391$2,949$826$1,062
Renters$24,360$2,030$568$731
If you want to find a good determining factor for the cost of living and the general affordability of housing in El Cerro Mission, NM, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In El Cerro Mission, NM, the median monthly income is $35,391 for those who own their own homes. Under the standard rule, that income level would allow for $826 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $24,360, per the median income in the area. That would allow for renters to spend up to $568 on monthly rental expenses.

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 El Cerro Mission, 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

ItemEl Cerro MissionNational avg.Difference
Haircut $17.10$14.5917.2%
Beauty Salon $36.00$34.683.8%
Toothpaste $2.12$2.4714.3%
Shampoo $1.21$1.0218.4%
Movie $9.56$9.873.1%
Bowling $3.53$4.3919.6%

Groceries

ItemEl Cerro MissionNational avg.Difference
Ground Beef $5.10$4.4813.9%
Fried Chicken $1.39$1.465.1%
Milk $2.58$2.369.5%
Potatoes $3.35$3.069.4%
Pizza $7.99$9.2413.6%
Beer $9.32$8.638.0%

Health Care

ItemEl Cerro MissionNational avg.Difference
Optometrist $73.00$99.7826.8%
Doctor $88.33$105.0315.9%
Dentist $82.00$88.707.6%
Ibuprofen $8.50$9.419.7%
Lipitor $271.13$298.509.2%

Housing

ItemEl Cerro MissionNational avg.Difference
Home Price $73,100.00$175,700.0058.4%
Avg. Mortgage Payment $849.19$1,081.0321.4%
Apartment Rent $764.00$920.0017.0%

Transportation

ItemEl Cerro MissionNational avg.Difference
Gasoline $1.96$2.096.1%
Tire Balancing $49.96$45.2910.3%

Utilities

ItemEl Cerro MissionNational avg.Difference
All Electricity$141.86$170.8016.9%
Phone $26.95$28.264.6%
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.
Pajarito Mesa, NM3171044%
Madrone, NM71078-22%
Meadow Lake, NM5,62681-19%
Tome, NM1,57882-18%
Chical, NM13984-16%
El Cerro Mission, NM4,51982-18%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Ardsley, NY4,51917676%
Emerald Lake Hills, CA4,519222122%
Chester, MD4,52012020%
Falmouth, VA4,51811717%
Berlin, MD4,5201088%
El Cerro Mission, NM4,51982-18%
Source: The El Cerro Mission, NM cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.