Lake Valley, NM Cost of Living


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Lake Valley cost of living score
79.5
Less expensive
20.5% lower
than the US average
10.1% lower
than the New Mexico average
Lake Valley, New Mexico gets a BestPlaces Cost of Living score of 79.5, which means the total cost of housing, food, childcare, transportation, healthcare, taxes, and other necessities is 20.5% lower than the U.S. average and 10.1% higher than the average for New Mexico.

Lake Valley, NM

Housing costs in Lake Valley?
A typical home costs $173,000, which is 48.8% less expensive than the national average of $338,100 and 35.2% less expensive than the average New Mexico home, at $267,100. Renting a two-bedroom unit in Lake Valley costs $840 per month, which is 41.3% cheaper than the national average of $1,430 and 21.4% cheaper than the state average of $1,020.

Can I afford Lake Valley?
To live comfortably in Lake Valley, New Mexico, a minimum annual income of $33,120 for a family, and $28,400 for a single person is recommended.

What does A.I. say about Lake Valley?
The cost of living in Lake Valley, NM is relatively affordable compared to other cities. According to recent data, the average cost of housing is about 20% lower than the national average, making it a great place to buy property. In addition, groceries and utilities are also 10-20% cheaper than the national average. This makes it easy for residents to stretch their budget and have money left over for entertainment or recreation activities. Overall, Lake Valley, NM is an affordable city to live in with plenty of amenities and attractions that make it a great place to settle down.
   Cost of living score
     CategoriesLake ValleyNew MexicoUnited States
  79.588.4100.0
  88.893.3100
  83.882.6100.0
  54.884.3100.0
  $173,000$267,100$338,100
  95.2%100.4%100.0%
  87.284.6100.0
  78.385.5100.0

   100=National Average

   Average Rent by Bedroom Size
Crime
Compare Lake Valley, NM cost of living
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