Peralta 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.
IndexPeraltaNew MexicoNational
Cost of living index9194100
IndexPeraltaNew MexicoNational
Goods & Services index9695100
Groceries index95105100
Health care index98100100
Housing index8489100
Transportation index97100100
Utilities index8590100
Here we can see a simple outline of the cost of living in Peralta, NM. As you can see, with the average cost of living in Peralta, NM being 91, that puts it 4% lower than the average of New Mexico and 9% 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 Peralta, 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 Peralta is 4% lower than the New Mexico average.
  • The cost of living in Peralta is 9% lower than the national average.
  • The cost of housing in Peralta is 16% 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 Peralta, 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
The salary calculator is used in order to provide a comparison of your current salary in Peralta, NM to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Peralta, NM, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Peralta, NM salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$57,788$4,816$1,348$1,734
Renters$25,383$2,115$592$762
If you want to find a good determining factor for the cost of living and the general affordability of housing in Peralta, NM, all you must look at 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 Peralta, NM, the median monthly income is $57,788 for those who own their own homes. Under the standard rule, that income level would allow for $1,348 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $25,383, per the median income in the area. That would allow for renters to spend up to $592 on monthly rental expenses.

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%
The New Mexico sales tax and New Mexico income tax rates should definitely be considered when determining the overall cost of living in Peralta, NM. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The New Mexico sales tax is 5.125% and the maximum surtax is 8.688%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The New Mexico income tax rates range from 1.7% to 4.9%.

Goods & Services

ItemPeraltaNational 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

ItemPeraltaNational 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

ItemPeraltaNational 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

ItemPeraltaNational avg.Difference
Home Price $147,600.00$175,700.0016.0%
Avg. Mortgage Payment $1,096.77$1,133.233.2%
Apartment Rent $763.00$920.0017.1%

Transportation

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

Utilities

ItemPeraltaNational 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.
Pajarito Mesa, NM31794-6%
Meadow Lake, NM5,62681-19%
Tome, NM1,57882-18%
El Cerro Mission, NM4,51982-18%
Chical, NM13984-16%
Peralta, NM3,63691-9%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Parkesburg, PA3,6361077%
Dixmoor, IL3,63588-12%
Mississippi State, MS3,63789-11%
Independence, MN3,63413232%
Meiners Oaks, CA3,63413636%
Peralta, NM3,63691-9%
Source: The Peralta, NM cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.