Hope 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.
IndexHopeNew MexicoNational
Cost of living index7794100
IndexHopeNew MexicoNational
Goods & Services index9495100
Groceries index115105100
Health care index102100100
Housing index2489100
Transportation index102100100
Utilities index9690100

Did you know?

  • The cost of living in Hope is 18% lower than the New Mexico average.
  • The cost of living in Hope is 23% lower than the national average.
  • The cost of housing in Hope is 76% 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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Health care index
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Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$25,417$2,118$593$763
Renters$0$0$0$0

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

ItemHopeNational 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

ItemHopeNational 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

ItemHopeNational 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

ItemHopeNational avg.Difference
Home Price $42,900.00$175,700.0075.6%
Avg. Mortgage Payment $1,079.40$1,133.234.8%
Apartment Rent $0.00$920.00100.0%

Transportation

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

Utilities

ItemHopeNational 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.
Hope, NM12077-23%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Norris, SD12074-26%
Tradewinds, TX12075-25%
Hansell, IA12077-23%
Mitchell, IA12079-21%
Garvin, MN12080-20%
Hope, NM12077-23%
Source: The Hope, NM cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.