A+
2%
Overall NAT. AVG.
0%
Goods & Services NAT. AVG.
2%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Los Lunas New Mexico National
Cost of living9893100
Goods & Services10097100
Groceries9797100
Health care9697100
Housing9886100
Transportation9395100
Utilities9990100

An Overview of Cost of Living in Los Lunas, NM

The cost of living in Los Lunas affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Los Lunas is 98, which is 2% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Everyday expenditures like food, housing, goods and services, transportation and health care in Los Lunas are priced in a manner consistent with other areas. This means that residents of Los Lunas can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

Is Los Lunas Affordable?

Is Los Lunas an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Los Lunas, the median home price is 6.8% lower than what most folks pay across the country, and monthly rent prices are 8.5% higher than the usual rates. Income levels in Los Lunas come in at $59,636, which is 7.8% higher than the national average.

What Factors can Influence the Cost of Living in Los Lunas?

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Los Lunas, the housing index is 2.2% lower than the national average.

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Los Lunas, the healthcare costs are 4.3% lower than the national average.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Los Lunas, the groceries index registers 2.6% lower than the national average.

Where is the Data From?

The cost of living in Los Lunas, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Los Lunas is 6% higher than the New Mexico average
  • The cost of living in Los Lunas is 2% lower than the national average
  • Los Lunas housing is 2% lower than the national average
  • New Mexico general sales tax is 2% lower than the national average
  • New Mexico state income tax is 25% lower than the national average

Most Affordable Places to Live in and Around Los Lunas

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Compare Los Lunas, NM Cost of Living

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      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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$66,644$5,554$1,555$2,000
      Renters$43,656$3,638$1,019$1,310
      A good indicator of the general affordability of housing in Los Lunas, NM, 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 Los Lunas, the median monthly income is $66,644 for those who own their own homes. Under the standard rule, that income level would allow for $1,555 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $43,656, per the median income in the area. That would allow for renters to spend up to $1,019 on monthly rental expenses.

      New Mexico Sales Tax

      State General Sales Tax With Max Surtax
      New Mexico 5% 8.688%

      New Mexico Income Tax

      State Income Tax (Low) Income Tax (High)
      New Mexico 1.7% 5.9%

      Goods & Services

      Item Los Lunas National avg. Difference
      Haircut $31.90$24.2631.5%
      Beauty Salon $50.83$45.5611.6%
      Toothpaste $3.62$3.702.3%
      Shampoo $1.15$1.2810.5%
      Movie $12.54$12.133.3%
      Bowling $20.89$18.0016.1%

      Groceries

      Item Los Lunas National avg. Difference
      Ground Beef $5.11$5.8412.5%
      Fried Chicken $1.32$1.5716.1%
      Milk $4.63$4.671.0%
      Potatoes $4.18$4.9315.3%
      Pizza $13.42$12.0911.0%
      Beer $11.07$10.416.4%

      Health Care

      Item Los Lunas National avg. Difference
      Optometrist $136.89$125.688.9%
      Doctor $134.17$135.781.2%
      Dentist $111.42$113.291.7%
      Ibuprofen $10.43$10.652.1%
      Lipitor $380.06$468.6018.9%

      Housing

      Item Los Lunas National avg. Difference
      Home Price $172,200.00$184,700.006.8%
      Avg. Mortgage Payment $1,905.97$2,346.6918.8%
      Apartment Rent $1,030.00$949.008.5%

      Transportation

      Item Los Lunas National avg. Difference
      Gasoline $3.50$3.461.1%
      Tire Balancing $43.87$59.9226.8%

      Utilities

      Item Los Lunas National avg. Difference
      All Electricity $191.24$193.991.4%
      Phone $190.51$192.250.9%
      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 Population Cost of Living Index National Avg.
      Chical, NM205982.1%
      Adelino, NM1,110982.1%
      Pajarito Mesa, NM3107624.3%
      Isleta Village Proper, NM4898317.2%
      Meadow Lake, NM4,2668316.6%
      Los Lunas, NM15,814982.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Bellevue, WI15,812981.6%
      Humble, TX15,819936.8%
      Spanish Springs, NV15,82013433.6%
      Villa Rica, GA15,803963.9%
      Long Beach, MS15,829964.4%
      Los Lunas, NM15,814982.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.