Cost Of Living in Raton, NM

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14%

Overall NAT. AVG.

0%

Goods & Services NAT. AVG.

43%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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	Raton	New Mexico	National
Cost of living	86	93	100
Goods & Services	100	97	100
Groceries	98	97	100
Health care	100	97	100
Housing	57	86	100
Transportation	100	95	100
Utilities	94	90	100

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Cost Of Living Quick Facts

The cost of living in Raton is 7% lower than the New Mexico average
The cost of living in Raton is 14% lower than the national average
Raton housing is 43% 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

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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	$40,975	$3,415	$956	$1,229
Renters	$16,887	$1,407	$394	$507

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Raton, NM, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Raton homeowners, is $40,975. This would allow for a maximum of $956 per month to be spent on housing costs. For renters, the median monthly income is $16,887 which would result in a maximum of $394 to be spent on rental costs.

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	Raton	National avg.	Difference
Haircut	$23.33	$24.26	3.8%
Beauty Salon	$45.83	$45.56	0.6%
Toothpaste	$3.47	$3.70	6.2%
Shampoo	$1.22	$1.28	4.9%
Movie	$18.99	$12.13	56.5%
Bowling	$29.17	$18.00	62.0%

Groceries

Item	Raton	National avg.	Difference
Ground Beef	$5.63	$5.84	3.5%
Fried Chicken	$1.38	$1.57	12.6%
Milk	$4.69	$4.67	0.4%
Potatoes	$3.88	$4.93	21.3%
Pizza	$12.82	$12.09	6.1%
Beer	$10.59	$10.41	1.7%

Health Care

Item	Raton	National avg.	Difference
Optometrist	$82.33	$125.68	34.5%
Doctor	$99.00	$135.78	27.1%
Dentist	$103.33	$113.29	8.8%
Ibuprofen	$10.75	$10.65	0.9%
Lipitor	$538.16	$468.60	14.8%

Housing

Item	Raton	National avg.	Difference
Home Price	$91,300.00	$184,700.00	50.6%
Avg. Mortgage Payment	$2,880.89	$2,346.69	22.8%
Apartment Rent	$694.00	$949.00	26.9%

Transportation

Item	Raton	National avg.	Difference
Gasoline	$3.71	$3.46	7.1%
Tire Balancing	$67.11	$59.92	12.0%

Utilities

Item	Raton	National avg.	Difference
All Electricity	$155.08	$193.99	20.1%
Phone	$194.35	$192.25	1.1%

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.
Raton, NM	6,020	86	14.0%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Highland, NY	6,019	121	21.4%
East Alton, IL	6,021	82	18.3%
Cherryville, NC	6,018	92	7.8%
Verchères, QC	6,018	n/a
South Bruce, ON	6,022	n/a
Raton, NM	6,020	86	14.0%