South Valley 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.
IndexSouth ValleyNew MexicoNational
Cost of living index90n/a100
IndexSouth ValleyNew MexicoNational
Goods & Services index93n/a100
Groceries index103n/a100
Health care index89n/a100
Housing index79n/a100
Transportation index98n/a100
Utilities index88n/a100
The above illustration supplies generalized information for the South Valley, NM cost of living index. Compared to other cities in New Mexico and cities across the country, the cost of living index in South Valley, NM is 90, which is equal to the New Mexico average and 10% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in South Valley, NM are equal to the average for New Mexico and 7% lower than the rest of the country.

Did you know?

  • The cost of living in South Valley is equal to the New Mexico average.
  • The cost of living in South Valley is 10% lower than the national average.
  • The cost of housing in South Valley is 21% 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 South Valley, NM Cost of living To Other Cities

Salary Calculator

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Health care index
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The salary calculator allows you to compare how much your current salary in South Valley, 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 South Valley, NM, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The South Valley, 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$43,857$3,655$1,023$1,316
Renters$24,011$2,001$560$720
If you want to find a good determining factor for the cost of living and the general affordability of housing in South Valley, 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 South Valley, NM, the median monthly income is $43,857 for those who own their own homes. Under the standard rule, that income level would allow for $1,023 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $24,011, per the median income in the area. That would allow for renters to spend up to $560 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%
One thing to keep in mind when considering the cost of living in South Valley, 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

ItemSouth ValleyNational avg.Difference
Haircut $17.10$14.5917.2%
Beauty Salon $36.00$34.683.8%
Toothpaste $2.12$2.4714.3%
Shampoo $1.21$1.0218.4%
Movie $9.56$9.873.1%
Bowling $3.53$4.3919.6%

Groceries

ItemSouth ValleyNational avg.Difference
Ground Beef $5.10$4.4813.9%
Fried Chicken $1.39$1.465.1%
Milk $2.58$2.369.5%
Potatoes $3.35$3.069.4%
Pizza $7.99$9.2413.6%
Beer $9.32$8.638.0%

Health Care

ItemSouth ValleyNational avg.Difference
Optometrist $73.00$99.7826.8%
Doctor $88.33$105.0315.9%
Dentist $82.00$88.707.6%
Ibuprofen $8.50$9.419.7%
Lipitor $271.13$298.509.2%

Housing

ItemSouth ValleyNational avg.Difference
Home Price $140,100.00$175,700.0020.3%
Avg. Mortgage Payment $849.19$1,081.0321.4%
Apartment Rent $706.00$920.0023.3%

Transportation

ItemSouth ValleyNational avg.Difference
Gasoline $1.96$2.096.1%
Tire Balancing $49.96$45.2910.3%

Utilities

ItemSouth ValleyNational avg.Difference
All Electricity$141.86$170.8016.9%
Phone $26.95$28.264.6%
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.
Pajarito Mesa, NM3171044%
Monterey Park, NM1,41583-17%
Meadow Lake, NM5,62681-19%
Chical, NM13984-16%
Isleta Village Proper, NM37485-15%
South Valley, NM41,76090-10%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Urbana, IL41,76094-6%
Hicksville, NY41,78414949%
University, FL41,73286-14%
Altamonte Springs, FL41,88995-5%
Buffalo Grove, IL41,61312222%
South Valley, NM41,76090-10%
Source: The South Valley, NM cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.