Truth or Consequences 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.
IndexTruth or ConsequencesNew MexicoNational
Cost of living index81n/a100
IndexTruth or ConsequencesNew MexicoNational
Goods & Services index93n/a100
Groceries index103n/a100
Health care index89n/a100
Housing index50n/a100
Transportation index98n/a100
Utilities index88n/a100
The above illustration supplies generalized information for the Truth or Consequences, NM cost of living index. Compared to other cities in New Mexico and cities across the country, the cost of living index in Truth or Consequences, NM is 81, which is equal to the New Mexico average and 19% 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 Truth or Consequences, 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 Truth or Consequences is equal to the New Mexico average.
  • The cost of living in Truth or Consequences is 19% lower than the national average.
  • The cost of housing in Truth or Consequences is 50% 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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Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
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Utilities index
The salary calculator is meant to help you compare your salary in Truth or Consequences, NM to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Truth or Consequences, NM, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Truth or Consequences, NM salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$30,659$2,555$715$920
Renters$15,375$1,281$359$461
The affordability of the housing market in Truth or Consequences, NM as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Truth or Consequences, NM homeowners, the median income is $30,659. This indicates that a monthly maximum of $715 should be spent by homeowners on all housing related costs. Renters have a median income of $15,375. This indicates that renters should have a maximum of $359 used for their rent related monthly 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 Truth or Consequences, 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

ItemTruth or ConsequencesNational 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

ItemTruth or ConsequencesNational 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

ItemTruth or ConsequencesNational 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

ItemTruth or ConsequencesNational avg.Difference
Home Price $83,000.00$175,700.0052.8%
Avg. Mortgage Payment $849.19$1,081.0321.4%
Apartment Rent $515.00$920.0044.0%

Transportation

ItemTruth or ConsequencesNational avg.Difference
Gasoline $1.96$2.096.1%
Tire Balancing $49.96$45.2910.3%

Utilities

ItemTruth or ConsequencesNational 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.
Caballo, NM2595-5%
Oasis, NM18395-5%
Hot Springs Landing, NM13495-5%
Williamsburg, NM52579-21%
Elephant Butte, NM1,56289-11%
Truth or Consequences, NM6,33781-19%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Beardstown, IL6,33682-18%
Lionville, PA6,33411919%
Moraine, OH6,33389-11%
Thurmont, MD6,3331099%
Village of Oak Creek (Big Park), AZ6,34112525%
Truth or Consequences, NM6,33781-19%
Source: The Truth or Consequences, NM cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.