Raton 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.
IndexRatonNew MexicoNational
Cost of living index8194100
IndexRatonNew MexicoNational
Goods & Services index9195100
Groceries index96105100
Health care index98100100
Housing index5489100
Transportation index92100100
Utilities index8690100
Displayed above is a general overview of the Raton, NM cost of living index. The overall cost of living index in Raton, NM is 81, which is 15% lower than the New Mexico average and 19% 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 Raton, NM are 4% lower than the New Mexico average and 9% lower than the national average.

Did you know?

  • The cost of living in Raton is 15% lower than the New Mexico average.
  • The cost of living in Raton is 19% lower than the national average.
  • The cost of housing in Raton is 46% 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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Salary Calculator

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The salary calculator allows you to compare how much your current salary in Raton, NM would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Raton, NM, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Raton, NM salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$46,074$3,840$1,075$1,382
Renters$16,389$1,366$382$492
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Raton, 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 Raton, NM homeowners, is $46,074. This would allow for a maximum of $1,075 per month to be spent on housing costs. For renters, the median monthly income is $16,389 which would result in a maximum of $382 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 Raton, 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

ItemRatonNational avg.Difference
Haircut $13.61$15.5612.5%
Beauty Salon $31.87$36.1111.7%
Toothpaste $2.04$2.4717.5%
Shampoo $0.88$0.968.3%
Movie $9.82$10.133.1%
Bowling $3.25$4.7431.4%

Groceries

ItemRatonNational avg.Difference
Ground Beef $4.54$3.9814.0%
Fried Chicken $1.46$1.413.9%
Milk $1.72$2.0616.6%
Potatoes $2.45$2.9817.9%
Pizza $8.46$9.4710.7%
Beer $8.80$8.790.1%

Health Care

ItemRatonNational avg.Difference
Optometrist $94.08$101.046.9%
Doctor $100.53$107.446.4%
Dentist $84.79$90.426.2%
Ibuprofen $10.60$9.2814.2%
Lipitor $438.42$426.502.8%

Housing

ItemRatonNational avg.Difference
Home Price $89,100.00$175,700.0049.3%
Avg. Mortgage Payment $737.80$1,133.2334.9%
Apartment Rent $574.00$920.0037.6%

Transportation

ItemRatonNational avg.Difference
Gasoline $1.89$1.995.0%
Tire Balancing $38.66$45.7615.5%

Utilities

ItemRatonNational avg.Difference
All Electricity$133.00$163.8118.8%
Phone $26.67$28.396.0%
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.
Raton, NM6,62781-19%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Meraux, LA6,62794-6%
Champion Heights, OH6,62688-12%
Wickenburg, AZ6,62991-9%
Cedarhurst, NY6,63117878%
Oneonta, AL6,62385-15%
Raton, NM6,62781-19%
Source: The Raton, NM cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.