Meadow Lake 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.
IndexMeadow LakeNew MexicoNational
Cost of living index8194100
IndexMeadow LakeNew MexicoNational
Goods & Services index9695100
Groceries index95105100
Health care index98100100
Housing index4989100
Transportation index97100100
Utilities index8590100
Here we can see a simple outline of the cost of living in Meadow Lake, NM. As you can see, with the average cost of living in Meadow Lake, NM being 81, that puts it 15% lower than the average of New Mexico and 19% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Meadow Lake, NM, the price of goods and services are 1% higher than the average of New Mexico as well as 4% lower than the nation's average.

Did you know?

  • The cost of living in Meadow Lake is 15% lower than the New Mexico average.
  • The cost of living in Meadow Lake is 19% lower than the national average.
  • The cost of housing in Meadow Lake is 51% 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 Meadow Lake, NM Cost of living To Other Cities

Salary Calculator

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Health care index
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Use the salary calculator to compare your current income in Meadow Lake, NM to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Meadow Lake, NM, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Meadow Lake, NM salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$28,889$2,407$674$867
Renters$17,702$1,475$413$531
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Meadow Lake, 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 Meadow Lake, NM homeowners, is $28,889. This would allow for a maximum of $674 per month to be spent on housing costs. For renters, the median monthly income is $17,702 which would result in a maximum of $413 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%
One thing to keep in mind when considering the cost of living in Meadow Lake, 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

ItemMeadow LakeNational avg.Difference
Haircut $16.70$15.567.3%
Beauty Salon $44.30$36.1122.7%
Toothpaste $2.47$2.470.0%
Shampoo $0.78$0.9619.5%
Movie $10.50$10.133.7%
Bowling $6.43$4.7435.8%

Groceries

ItemMeadow LakeNational avg.Difference
Ground Beef $4.30$3.988.0%
Fried Chicken $1.43$1.411.4%
Milk $1.69$2.0618.3%
Potatoes $2.53$2.9815.3%
Pizza $8.93$9.475.7%
Beer $6.71$8.7923.7%

Health Care

ItemMeadow LakeNational avg.Difference
Optometrist $101.20$101.040.2%
Doctor $98.16$107.448.6%
Dentist $96.44$90.426.7%
Ibuprofen $8.32$9.2810.4%
Lipitor $389.18$426.508.7%

Housing

ItemMeadow LakeNational avg.Difference
Home Price $63,700.00$175,700.0063.7%
Avg. Mortgage Payment $1,096.77$1,133.233.2%
Apartment Rent $722.00$920.0021.5%

Transportation

ItemMeadow LakeNational avg.Difference
Gasoline $1.83$1.998.3%
Tire Balancing $50.04$45.769.4%

Utilities

ItemMeadow LakeNational avg.Difference
All Electricity$149.22$163.818.9%
Phone $22.15$28.3922.0%
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.
Manzano, NM1494-6%
Pajarito Mesa, NM31794-6%
Tome, NM1,57882-18%
El Cerro Mission, NM4,51982-18%
Chical, NM13984-16%
Meadow Lake, NM5,62681-19%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Orange Beach, AL5,6291077%
Scituate, MA5,62315555%
Breckenridge, TX5,63177-23%
Exeter, PA5,63392-8%
Fort Washington, PA5,61914242%
Meadow Lake, NM5,62681-19%
Source: The Meadow Lake, NM cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.