Is New Mexico Expensive To Live

The majority of New Mexico enjoys a lower cost of living than the national average. Albuquerque is more expensive than other areas in New Mexico. The cost of living in Albuquerque is $50,000 to $60,000 per year. Housing costs in Albuquerque, New Mexico average nearly $20,000 every year. Residents of Hobbs pay the fifth smallest percentage of their income on homes across New Mexico, with a median home price of $144,000 and a median income of $57,646.

It’s also the 11th most affordable place to rent in New Mexico, so the choice between buying and renting has no bad option. Overall SnackAbility 6 /10 Population: 38,475 The most expensive city to live in New Mexico is the Santa Fe metro area. There, the cost of living is 3.0% lower than the average cost nationwide. The cost of.