Fairacres 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.
IndexFairacresNew MexicoNational
Cost of living index10694100
IndexFairacresNew MexicoNational
Goods & Services index9495100
Groceries index115105100
Health care index102100100
Housing index11989100
Transportation index102100100
Utilities index9690100

Did you know?

  • The cost of living in Fairacres is 12% higher than the New Mexico average.
  • The cost of living in Fairacres is 6% higher than the national average.
  • The cost of housing in Fairacres is 19% higher 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 Fairacres, NM Cost of living To Other Cities

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Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$53,684$4,474$1,253$1,611
Renters$15,305$1,275$357$459

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%

Goods & Services

ItemFairacresNational avg.Difference
Haircut $16.45$15.565.7%
Beauty Salon $36.29$36.110.5%
Toothpaste $2.78$2.4712.4%
Shampoo $0.92$0.964.1%
Movie $9.32$10.138.0%
Bowling $5.33$4.7412.6%

Groceries

ItemFairacresNational avg.Difference
Ground Beef $5.58$3.9840.1%
Fried Chicken $1.85$1.4131.5%
Milk $2.71$2.0631.5%
Potatoes $2.71$2.989.2%
Pizza $9.57$9.471.0%
Beer $7.26$8.7917.4%

Health Care

ItemFairacresNational avg.Difference
Optometrist $97.14$101.043.9%
Doctor $110.33$107.442.7%
Dentist $96.89$90.427.2%
Ibuprofen $8.00$9.2813.8%
Lipitor $426.85$426.500.1%

Housing

ItemFairacresNational avg.Difference
Home Price $258,300.00$175,700.0047.0%
Avg. Mortgage Payment $1,079.40$1,133.234.8%
Apartment Rent $506.00$920.0045.0%

Transportation

ItemFairacresNational avg.Difference
Gasoline $1.91$1.994.0%
Tire Balancing $52.94$45.7615.7%

Utilities

ItemFairacresNational avg.Difference
All Electricity$136.58$163.8116.6%
Phone $31.99$28.3912.7%
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.
Pecan Park, NM6679-21%
Mesquite, NM63983-17%
Vado, NM2,78183-17%
San Miguel, NM1,42684-16%
Organ, NM11684-16%
Fairacres, NM8921066%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Windfall City, IN89283-17%
Ottoville, OH89291-9%
Pleasant Plains, IL89288-12%
Hinton, IA89295-5%
Clint, TX89282-18%
Fairacres, NM8921066%
Source: The Fairacres, NM cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.