| Index | Clovis | New Mexico | National |
| Cost of living | 92 | 94 | 100 |
| Groceries | 100 | 98 | 100 |
| Health care | 100 | 98 | 100 |
| Housing | 79 | 85 | 100 |
| Transportation | 96 | 98 | 100 |
| Utilities | 94 | 97 | 100 |
| Lifestyle & Entertainment | 94 | 96 | 100 |
| Household Items | 96 | 98 | 100 |
| Education & Childcare | 95 | 96 | 100 |
The cost of living in Clovis affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Clovis is 92, which is 8% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
The cost of living in Clovis aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, household expenses, health care and utility bills are priced at a level consistent with the average in similar urban areas. Clovis residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.
Is Clovis an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Clovis, the median home price is 26% lower than what most folks pay across the country, and monthly rent prices are 10.1% lower than the usual rates. Income levels in Clovis come in at $70,538, which is 13.3% lower than the national average.
Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.
Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Clovis comes in at 5.6% lower than the national average.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Clovis, healthcare costs are 0.4% lower than the national average.
The Clovis cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as directional city-to-city comparisons.
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| Groceries index | |
| Health care index | |
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| Utilities index | |
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| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $86,745 | $7,229 | $2,024 | $2,603 |
| Renters | $55,721 | $4,643 | $1,300 | $1,672 |
| State | General Sales Tax | With Max Surtax |
| New Mexico | 5% | 8.688% |
| State | Income Tax (Low) | Income Tax (High) |
| New Mexico | 1.7% | 5.9% |
| City | Population | Cost of Living Index | National Avg. |
| Farwell, TX | 1,596 | 87 | 13.0% |
| Texico, NM | 1,084 | 90 | 10.3% |
| Cannon AFB, NM | 2,606 | 105 | 5.4% |
| Clovis, NM | 39,532 | 92 | 8.5% |
| City | Population | Cost of Living Index | National Avg. |
| Kendall West, FL | 39,549 | 119 | 19.2% |
| Pahrump, NV | 39,506 | 101 | 0.9% |
| Hot Springs, AR | 39,496 | 88 | 11.6% |
| Hobbs, NM | 39,472 | 93 | 6.7% |
| Hurst, TX | 39,602 | 105 | 4.7% |
| Clovis, NM | 39,532 | 92 | 8.5% |
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