| Index | Santa Fe | New Mexico | National |
| Cost of living | 111 | 94 | 100 |
| Groceries | 96 | 98 | 100 |
| Health care | 95 | 98 | 100 |
| Housing | 145 | 85 | 100 |
| Transportation | 95 | 98 | 100 |
| Utilities | 99 | 97 | 100 |
| Lifestyle & Entertainment | 100 | 96 | 100 |
| Household Items | 99 | 98 | 100 |
| Education & Childcare | 92 | 96 | 100 |
The cost of living in Santa Fe 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 Santa Fe is 111, which is 11% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
When it comes to the cost of living in Santa Fe, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 45.2% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
The most insightful perspective on a city comes from its residents. We recently surveyed 19 locals to gauge their perception of the cost of living in Santa Fe. The feedback revealed that 26% of respondents found the cost of living to be reasonable, with prices on the decline, while 74% regarded it as notably expensive with prices that continue to rise.
Is Santa Fe 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 Santa Fe, the median home price is 56.1% higher than what most folks pay across the country, and monthly rent prices are 19.7% higher than the usual rates. Income levels in Santa Fe come in at $85,829, which is 5.5% higher than the national average.
Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Santa Fe, the housing index comes in at 45.2% higher than the national average.
Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.
Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Santa Fe, the groceries index registers 3.8% lower than the national average.
The cost of living data for Santa Fe shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $101,708 | $8,476 | $2,373 | $3,052 |
| Renters | $67,768 | $5,647 | $1,581 | $2,033 |
| 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. |
| Rowe, NM | 529 | 96 | 3.6% |
| Lamy, NM | 165 | 96 | 3.6% |
| Rio en Medio, NM | 203 | 96 | 3.6% |
| Peak Place, NM | 471 | 74 | 25.8% |
| Pojoaque, NM | 2,139 | 85 | 15.4% |
| Santa Fe, NM | 86,648 | 111 | 11.1% |
| City | Population | Cost of Living Index | National Avg. |
| Whittier, CA | 86,613 | 165 | 65.0% |
| Trenton, NJ | 86,528 | 99 | 1.0% |
| Lake Forest, CA | 86,858 | 181 | 80.5% |
| Danbury, CT | 86,891 | 125 | 25.5% |
| Merced, CA | 86,383 | 121 | 21.5% |
| Santa Fe, NM | 86,648 | 111 | 11.1% |
Here are the best places to live in New Mexico
See the best places to live in Santa Fe
These are the 10 cheapest cities in New Mexico
Check out the 10 safest cities in New Mexico