A+
15%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
32%
Housing NAT. AVG.
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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 Roswell New Mexico National
Cost of living8593100
Goods & Services9497100
Groceries9697100
Health care9897100
Housing6886100
Transportation9695100
Utilities8190100

An Overview of Cost of Living in Roswell, NM

Getting a feel for the cost of living in Roswell is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Roswell is 85, which is 15% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

What Do Locals Say About the Cost of Living in Roswell?

The most insightful perspective on a city comes from its residents. We recently surveyed 7 locals to gauge their perception of the cost of living in Roswell. The feedback revealed that 57% of respondents found the cost of living to be reasonable, with prices on the decline, while 43% regarded it as notably expensive with prices that continue to rise.

Is Roswell Affordable?

Is Roswell 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 Roswell, the median home price is 40.4% lower than what most folks pay across the country, and monthly rent prices are 13.7% lower than the usual rates. Income levels in Roswell come in at $45,493, which is 17.8% lower than the national average.

What Factors can Influence the Cost of Living in Roswell?

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Roswell, the transportation index is 3.6% lower than the national average.

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Roswell, the housing index is 32.4% lower than the national average.

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including 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 farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Where is the Data From?

The Roswell cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Roswell is 8% lower than the New Mexico average
  • The cost of living in Roswell is 15% lower than the national average
  • Roswell housing is 32% 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 Roswell

See all the best places to live around Roswell

Compare Roswell, 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$52,613$4,384$1,228$1,579
      Renters$35,495$2,958$828$1,065
      A good way to judge both the affordability of the housing and the cost of living in Roswell 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. Roswell has a median income of about $52,613 for people who own homes. Based on that number, a maximum of $1,228 should be spent on expenses related to housing. Renters have a slightly different median income, which is $35,495. Based on this average, renters should spend no more than $828 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 Roswell National avg. Difference
      Haircut $24.56$24.261.2%
      Beauty Salon $46.00$45.561.0%
      Toothpaste $3.67$3.700.8%
      Shampoo $1.09$1.2815.2%
      Movie $13.00$12.137.1%
      Bowling $14.33$18.0020.4%

      Groceries

      Item Roswell National avg. Difference
      Ground Beef $5.69$5.842.6%
      Fried Chicken $1.32$1.5716.1%
      Milk $4.53$4.673.0%
      Potatoes $4.15$4.9315.8%
      Pizza $12.38$12.092.4%
      Beer $10.68$10.412.5%

      Health Care

      Item Roswell National avg. Difference
      Optometrist $150.67$125.6819.9%
      Doctor $140.33$135.783.4%
      Dentist $113.72$113.290.4%
      Ibuprofen $10.29$10.653.4%
      Lipitor $517.39$468.6010.4%

      Housing

      Item Roswell National avg. Difference
      Home Price $110,000.00$184,700.0040.4%
      Avg. Mortgage Payment $2,303.17$2,346.691.9%
      Apartment Rent $819.00$949.0013.7%

      Transportation

      Item Roswell National avg. Difference
      Gasoline $3.35$3.463.3%
      Tire Balancing $53.65$59.9210.5%

      Utilities

      Item Roswell National avg. Difference
      All Electricity $192.00$193.991.0%
      Phone $189.63$192.251.4%
      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.
      Midway, NM6387821.9%
      Dexter, NM1,0618316.8%
      Roswell, NM47,7518514.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Cornwall, ON47,736n/a 
      Covina, CA47,78715858.4%
      Dublin, OH47,82412424.0%
      Minot, ND47,8341021.6%
      Chesterfield, MO47,60312019.9%
      Roswell, NM47,7518514.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.