NM metros
Cost of living across major NM metropolitan areas.
What living in NM costs
Across the 1 NM metro we track, the typical cost-of-living index is 93.6 against a national metro median of 95.7 — about 2% cheaper than the typical US metro. That ranks NM 20 of the 48 states we cover, counting from the cheapest.
A typical NM home costs $352,894, or about 5.5× median household income, and typical rent is $1,502/mo.
Taxes in NM
NM levies a state income tax on top of the federal one. Effective property tax runs about 0.9% of home value in a typical NM metro, and combined state and local sales tax is around 7.8%.
Property tax is the one that scales with housing, so it bites hardest in the pricier metros above. Per-metro figures are on each metro page.
| Metro | COL index | Median home | Median rent |
|---|---|---|---|
| Albuquerque, NM | 93.6 | $352,894 | $1,502 |
Cities & towns in NM (5)
Local property tax, home values and school scores for each place.