Cost of Living in Grants, NM

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12%
Overall NAT. AVG.
4%
Goods & Services NAT. AVG.
38%
Housing NAT. AVG.
Date & Last Updated: This data reflects 2025 and was released from C2ER in January, 2026; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Grants New Mexico National
Cost of living8893100
Goods & Services10499100
Groceries9897100
Health care108112100
Housing6285100
Transportation9493100
Utilities8583100
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Homes For Sale In Grants, NM

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820 Austin Ave

Grants, NM
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1205 1/2 San Jose Dr

Grants, NM
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1516 Del Norte Blvd

Grants, NM
property for sale

1308 Chaco Ave

Grants, NM
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Cost Of Living Quick Facts

  • The cost of living in Grants is 6% lower than the New Mexico average
  • The cost of living in Grants is 12% lower than the national average
  • Grants housing is 38% lower than the national average
  • New Mexico general sales tax is 2% lower than the national average
  • New Mexico state income tax is 35% lower than the national average

Most Affordable Places to Live in and Around Grants

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Compare Grants, NM Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$79,469$6,622$1,854$2,384
      Renters$51,244$4,270$1,196$1,537
      A good way to judge both the affordability of the housing and the cost of living in Grants is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Grants has a median income of about $79,469 for people who own homes. Based on that number, a maximum of $1,854 should be spent on expenses related to housing. Renters have a slightly different median income, which is $51,244. Based on this average, renters should spend no more than $1,196 on all rental costs if they want to maintain a non-impoverished standard of living.

      New Mexico Sales Tax

      State General Sales Tax With Max Surtax
      New Mexico 5% 8.688%

      New Mexico Income Tax

      State Income Tax (Low) Income Tax (High)
      New Mexico 1.7% 5.9%

      Goods & Services

      Item Grants National avg. Difference
      Haircut $36.08$27.6230.6%
      Beauty Salon $51.64$51.111.0%
      Toothpaste $4.00$4.092.3%
      Shampoo $1.36$1.5411.8%
      Movie $12.15$12.885.7%
      Yoga $19.42$19.661.2%

      Groceries

      Item Grants National avg. Difference
      Ground Beef $8.29$7.707.6%
      Fried Chicken $1.46$1.6612.2%
      Milk $4.65$4.731.8%
      Potatoes $4.96$5.265.6%
      Pizza $13.64$12.766.9%
      Beer $10.58$10.550.3%

      Health Care

      Item Grants National avg. Difference
      Optometrist $173.61$140.0624.0%
      Doctor $145.18$153.825.6%
      Dentist $107.62$123.1512.6%
      Ibuprofen $11.73$11.730.0%
      Lipitor $35.21$23.6149.1%

      Housing

      Item Grants National avg. Difference
      Home Price $187,893.00$326,622.0042.5%
      Avg. Mortgage Payment $2,169.16$2,480.2512.5%
      Apartment Rent $1,063.00$1,444.0026.4%

      Transportation

      Item Grants National avg. Difference
      Gasoline $3.00$3.061.8%
      Tire Balancing $55.00$65.2115.7%

      Utilities

      Item Grants National avg. Difference
      All Electricity $167.22$220.1224.0%
      Phone $193.43$195.711.2%
      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 Population Cost of Living Index National Avg.
      Bluewater Village, NM66991.2%
      Acomita Lake, NM775991.2%
      San Mateo, NM200991.2%
      San Fidel, NM487991.2%
      Milan, NM3,7458218.4%
      Grants, NM9,3338812.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Fairview, TX9,33913737.4%
      Grosse Pointe Farms, MI9,34012525.4%
      Leonia, NJ9,32416363.2%
      Hernando, FL9,3198614.4%
      Garden City, GA9,315928.0%
      Grants, NM9,3338812.1%
      Date & Last Updated: This data reflects 2025 and was released from C2ER in January, 2026; this is the most current data available.
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