Cost of Living in Silver City, NM

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12%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
25%
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 Silver City New Mexico National
Cost of living8893100
Goods & Services9499100
Groceries9797100
Health care116112100
Housing7585100
Transportation9293100
Utilities8283100
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Homes For Sale In Silver City, NM

property for sale

621 N California Ave

Silver City, NM
property for sale

202 Turkey Creek Road RD

Gila, NM
property for sale

90 Country Rd

Silver City, NM
property for sale

105 Wendy Rd

Silver City, NM

Cost Of Living Quick Facts

  • The cost of living in Silver City is 5% lower than the New Mexico average
  • The cost of living in Silver City is 12% lower than the national average
  • Silver City housing is 25% 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 Silver City

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Compare Silver City, NM Cost of Living

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      The best places in New Mexico

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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$66,096$5,508$1,542$1,983
      Renters$30,542$2,545$713$916
      A good indicator of the general affordability of housing in Silver City, NM, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Silver City, the median monthly income is $66,096 for those who own their own homes. Under the standard rule, that income level would allow for $1,542 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $30,542, per the median income in the area. That would allow for renters to spend up to $713 on monthly rental expenses.

      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 Silver City National avg. Difference
      Haircut $23.89$27.6213.5%
      Beauty Salon $43.97$51.1114.0%
      Toothpaste $4.05$4.091.0%
      Shampoo $1.45$1.546.0%
      Movie $11.50$12.8810.7%
      Yoga $13.33$19.6632.2%

      Groceries

      Item Silver City National avg. Difference
      Ground Beef $7.85$7.701.9%
      Fried Chicken $1.45$1.6612.8%
      Milk $4.67$4.731.3%
      Potatoes $4.96$5.265.6%
      Pizza $13.69$12.767.3%
      Beer $9.98$10.555.4%

      Health Care

      Item Silver City National avg. Difference
      Optometrist $144.00$140.062.8%
      Doctor $150.00$153.822.5%
      Dentist $140.38$123.1514.0%
      Ibuprofen $11.48$11.732.1%
      Lipitor $33.61$23.6142.4%

      Housing

      Item Silver City National avg. Difference
      Home Price $248,005.00$326,622.0024.1%
      Avg. Mortgage Payment $2,178.11$2,480.2512.2%
      Apartment Rent $1,074.00$1,444.0025.6%

      Transportation

      Item Silver City National avg. Difference
      Gasoline $2.87$3.066.0%
      Tire Balancing $57.24$65.2112.2%

      Utilities

      Item Silver City National avg. Difference
      All Electricity $156.74$220.1228.8%
      Phone $193.91$195.710.9%
      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.
      Cobre, NM28946.2%
      North Hurley, NM1657722.8%
      Hanover, NM1588118.6%
      Bayard, NM2,5088118.5%
      Santa Clara, NM1,7568218.4%
      Silver City, NM9,8958811.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Clarksville, AR9,8959010.4%
      Maywood, NJ9,89414746.7%
      Cheat Lake, WV9,89611313.2%
      Francisville, KY9,88711818.4%
      Roberval, QC9,887n/a 
      Silver City, NM9,8958811.7%
      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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