Santa Fe 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.
IndexSanta FeNew MexicoNational
Cost of living index105n/a100
IndexSanta FeNew MexicoNational
Goods & Services index84n/a100
Groceries index97n/a100
Health care index92n/a100
Housing index145n/a100
Transportation index88n/a100
Utilities index83n/a100
A general overview of the cost of living index for Santa Fe, NM is displayed above. In Santa Fe, NM, the overall cost of living index is 105, which is equal to the New Mexico average and 5% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Santa Fe, NM, the city's goods and services are equal to the New Mexico average and 16% lower than the U.S. average.

Did you know?

  • The cost of living in Santa Fe is equal to the New Mexico average.
  • The cost of living in Santa Fe is 5% higher than the national average.
  • The cost of housing in Santa Fe is 45% higher 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 Santa Fe, NM Cost of living To Other Cities

Salary Calculator

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The salary calculator allows you to compare how much your current salary in Santa Fe, 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 Santa Fe, NM, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Santa Fe, 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$64,296$5,358$1,500$1,929
Renters$31,062$2,589$725$932
One can approximate the cost of living and the housing affordability in Santa Fe, NM by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Santa Fe, NM have a median income of $64,296. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,500 per month to avoid calamity and poverty. The renters in the city have an income of about $31,062, which would make their monthly maximum allowable rental costs $725.

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%
When considering the overall cost of living expenses in Santa Fe, NM, it's important to take into account the sales tax for New Mexico, as well as the rate for income tax in New Mexico. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for New Mexico is 8.688%, and the sales tax in the state of New Mexico is 5.125%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in New Mexico starts from 1.7% and goes up to 4.9%.

Goods & Services

ItemSanta FeNational avg.Difference
Haircut $11.33$14.5922.4%
Beauty Salon $21.67$34.6837.5%
Toothpaste $2.28$2.477.8%
Shampoo $0.87$1.0214.9%
Movie $9.50$9.873.7%
Bowling $3.00$4.3931.7%

Groceries

ItemSanta FeNational avg.Difference
Ground Beef $4.99$4.4811.5%
Fried Chicken $0.98$1.4633.1%
Milk $2.09$2.3611.3%
Potatoes $2.18$3.0628.8%
Pizza $7.99$9.2413.6%
Beer $8.39$8.632.8%

Health Care

ItemSanta FeNational avg.Difference
Optometrist $84.75$99.7815.1%
Doctor $104.00$105.031.0%
Dentist $81.33$88.708.3%
Ibuprofen $8.32$9.4111.6%
Lipitor $263.12$298.5011.9%

Housing

ItemSanta FeNational avg.Difference
Home Price $297,100.00$181,400.0063.8%
Avg. Mortgage Payment $682.33$1,081.0336.9%
Apartment Rent $908.00$889.002.1%

Transportation

ItemSanta FeNational avg.Difference
Gasoline $1.84$2.0912.0%
Tire Balancing $40.00$45.2911.7%

Utilities

ItemSanta FeNational avg.Difference
All Electricity$136.03$170.8020.4%
Phone $24.99$28.2611.6%
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.
Peak Place, NM34072-28%
Rowe, NM26774-26%
Rio en Medio, NM8175-25%
Pecos, NM2,01977-23%
Pojoaque, NM2,07583-17%
Santa Fe, NM68,2981055%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Palatine, IL68,33811919%
Waterloo, IA68,24885-15%
Iowa City, IA68,36496-4%
Gulfport, MS68,15891-9%
Boynton Beach, FL68,4671011%
Santa Fe, NM68,2981055%
Source: The Santa Fe, NM cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.