Lee Acres 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.
IndexLee AcresNew MexicoNational
Cost of living index87n/a100
IndexLee AcresNew MexicoNational
Goods & Services index93n/a100
Groceries index103n/a100
Health care index89n/a100
Housing index68n/a100
Transportation index98n/a100
Utilities index88n/a100
A general summary of the cost of living index in Lee Acres, NM is shown above. Compared to the state average of New Mexico the cost of living index in Lee Acres, NM is 87, which is equal to the average in New Mexico and compared to the national average it is 13% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Lee Acres, NM goods and services come in at equal to the average in New Mexico and are 7% lower than compared to the nationwide average.

Did you know?

  • The cost of living in Lee Acres is equal to the New Mexico average.
  • The cost of living in Lee Acres is 13% lower than the national average.
  • The cost of housing in Lee Acres is 32% 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 Lee Acres, NM Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Lee Acres, 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 Lee Acres, NM, then you would need to earn more income in order to maintain the same standard of living. To use the Lee Acres, 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$47,760$3,980$1,114$1,433
Renters$27,813$2,318$649$834
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Lee Acres, NM as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Lee Acres, NM homeowners, is $47,760. This would allow for a maximum of $1,114 per month to be spent on housing costs. For renters, the median monthly income is $27,813 which would result in a maximum of $649 to be spent on rental 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%
When you are determining the total cost of living in Lee Acres, NM you will want to make sure you consider both the New Mexico sales tax and the New Mexico income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in New Mexico is 5.125%, with the highest surtax being 8.688%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in New Mexico have a range from 1.7% to 4.9%.

Goods & Services

ItemLee AcresNational 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

ItemLee AcresNational 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

ItemLee AcresNational 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

ItemLee AcresNational avg.Difference
Home Price $108,600.00$175,700.0038.2%
Avg. Mortgage Payment $849.19$1,081.0321.4%
Apartment Rent $773.00$920.0016.0%

Transportation

ItemLee AcresNational avg.Difference
Gasoline $1.96$2.096.1%
Tire Balancing $49.96$45.2910.3%

Utilities

ItemLee AcresNational 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.
North Light Plant, NM47484-16%
Napi Headquarters, NM73285-15%
Upper Fruitland, NM1,62390-10%
Blanco, NM16690-10%
Bloomfield, NM7,87795-5%
Lee Acres, NM6,16487-13%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Los Fresnos, TX6,16476-24%
Talent, OR6,1641099%
Willard, OH6,16381-19%
Monticello, KY6,16377-23%
Hartford City, IN6,16678-22%
Lee Acres, NM6,16487-13%
Source: The Lee Acres, NM cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.