Portales 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.
IndexPortalesNew MexicoNational
Cost of living index8494100
IndexPortalesNew MexicoNational
Goods & Services index9395100
Groceries index93105100
Health care index101100100
Housing index6789100
Transportation index90100100
Utilities index8490100
Displayed above is a general overview of the Portales, NM cost of living index. The overall cost of living index in Portales, NM is 84, which is 11% lower than the New Mexico average and 16% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Portales, NM are 2% lower than the New Mexico average and 7% lower than the national average.

Did you know?

  • The cost of living in Portales is 11% lower than the New Mexico average.
  • The cost of living in Portales is 16% lower than the national average.
  • The cost of housing in Portales is 33% 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 Portales, NM Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current income in Portales, 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 Portales, NM, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Portales, 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$49,688$4,141$1,159$1,491
Renters$21,056$1,755$491$632
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Portales, 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 Portales, NM homeowners, is $49,688. This would allow for a maximum of $1,159 per month to be spent on housing costs. For renters, the median monthly income is $21,056 which would result in a maximum of $491 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%
For those who live in Portales, NM and want to know what the true cost of living is, they ought to look at both the New Mexico income tax rate and the New Mexico sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In New Mexico, the sales tax is 5.125%, while the most you'll pay in surtax is 8.688%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in New Mexico, the income tax rate ranges between 1.7% to 4.9%.

Goods & Services

ItemPortalesNational avg.Difference
Haircut $13.40$15.5613.9%
Beauty Salon $38.87$36.117.6%
Toothpaste $1.81$2.4726.7%
Shampoo $0.84$0.9612.6%
Movie $9.20$10.139.2%
Bowling $5.84$4.7423.3%

Groceries

ItemPortalesNational avg.Difference
Ground Beef $4.14$3.983.8%
Fried Chicken $1.31$1.417.1%
Milk $1.99$2.063.7%
Potatoes $3.04$2.981.9%
Pizza $8.05$9.4715.1%
Beer $9.04$8.792.8%

Health Care

ItemPortalesNational avg.Difference
Optometrist $101.32$101.040.3%
Doctor $111.17$107.443.5%
Dentist $87.63$90.423.1%
Ibuprofen $9.58$9.283.2%
Lipitor $441.77$426.503.6%

Housing

ItemPortalesNational avg.Difference
Home Price $111,700.00$175,700.0036.4%
Avg. Mortgage Payment $940.33$1,133.2317.0%
Apartment Rent $685.00$920.0025.5%

Transportation

ItemPortalesNational avg.Difference
Gasoline $1.74$1.9912.5%
Tire Balancing $43.76$45.764.4%

Utilities

ItemPortalesNational avg.Difference
All Electricity$129.42$163.8121.0%
Phone $26.01$28.398.4%
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.
Floyd, NM11293-7%
Cannon AFB, NM2,59198-2%
Portales, NM12,48184-16%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Timberlake, VA12,47894-6%
Sugarland Run, VA12,47313131%
Brookhaven, MS12,49980-20%
Goldenrod, FL12,50095-5%
Prosper, TX12,50311717%
Portales, NM12,48184-16%
Source: The Portales, NM cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.