Las Vegas 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.
IndexLas VegasNew MexicoNational
Cost of living index80n/a100
IndexLas VegasNew MexicoNational
Goods & Services index84n/a100
Groceries index97n/a100
Health care index92n/a100
Housing index63n/a100
Transportation index88n/a100
Utilities index83n/a100
The above illustration supplies generalized information for the Las Vegas, NM cost of living index. Compared to other cities in New Mexico and cities across the country, the cost of living index in Las Vegas, NM is 80, which is equal to the New Mexico average and 20% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Las Vegas, NM are equal to the average for New Mexico and 16% lower than the rest of the country.

Did you know?

  • The cost of living in Las Vegas is equal to the New Mexico average.
  • The cost of living in Las Vegas is 20% lower than the national average.
  • The cost of housing in Las Vegas is 37% 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 Las Vegas, 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
Using the salary calculator lets you compare the salary you earn in Las Vegas, NM to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Las Vegas, NM, you have to earn a higher income in order to still have the same standard of living. To operate the Las Vegas, NM salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$32,754$2,730$764$983
Renters$11,743$979$274$352
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Las Vegas, NM, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Las Vegas, NM has a median income of about $32,754 for people who own homes. Based on that number, a person should spend a maximum of $764 on expenses related to housing. Renters have a slightly different median income, which is $11,743. Based on this average, renters should spend no more than $274 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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%
One thing to keep in mind when considering the cost of living in Las Vegas, NM is the New Mexico sales tax and New Mexico income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The New Mexico sales tax rate is 5.125% and the maximum surtax that can be charged is 8.688%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The New Mexico income tax rates range from 1.7% to 4.9%.

Goods & Services

ItemLas VegasNational avg.Difference
Haircut $11.33$14.5922.4%
Beauty Salon $21.67$34.6837.5%
Toothpaste $2.28$2.477.8%
Shampoo $0.87$1.0214.9%
Movie $9.50$9.873.7%
Bowling $3.00$4.3931.7%

Groceries

ItemLas VegasNational avg.Difference
Ground Beef $4.99$4.4811.5%
Fried Chicken $0.98$1.4633.1%
Milk $2.09$2.3611.3%
Potatoes $2.18$3.0628.8%
Pizza $7.99$9.2413.6%
Beer $8.39$8.632.8%

Health Care

ItemLas VegasNational avg.Difference
Optometrist $84.75$99.7815.1%
Doctor $104.00$105.031.0%
Dentist $81.33$88.708.3%
Ibuprofen $8.32$9.4111.6%
Lipitor $263.12$298.5011.9%

Housing

ItemLas VegasNational avg.Difference
Home Price $112,700.00$175,700.0035.9%
Avg. Mortgage Payment $682.33$1,081.0336.9%
Apartment Rent $568.00$920.0038.3%

Transportation

ItemLas VegasNational avg.Difference
Gasoline $1.84$2.0912.0%
Tire Balancing $40.00$45.2911.7%

Utilities

ItemLas VegasNational avg.Difference
All Electricity$136.03$170.8020.4%
Phone $24.99$28.2611.6%
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.
Watrous, NM087-13%
San Jose, NM69587-13%
Tecolote, NM97235135%
Las Vegas, NM13,83380-20%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
River Ridge, LA13,8351011%
Sharonville, OH13,83692-8%
Baker, LA13,83887-13%
Sharon, PA13,84574-26%
Tehachapi, CA13,8181033%
Las Vegas, NM13,83380-20%
Source: The Las Vegas, NM cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.