Housing costs in New Mexico?
A typical home costs
$267,100, which is 21.0% less expensive than the national average of
$338,100 and 0.0% less expensive than the average New Mexico home, at
$267,100. Renting a two-bedroom unit in New Mexico costs
$1,020 per month, which is 28.7% cheaper than the national average of
$1,430 and close to the state average of
$1,020.
Can I afford New Mexico?
To live comfortably in New Mexico, a minimum annual income of
$51,120 for a family, and
$34,000 for a single person is recommended.
What does A.I. say about New Mexico?
The cost of living in New Mexico is relatively low, especially compared to other states. The median home cost is around $179,000, a fraction of the national median home price. Renting an apartment in the state is also quite affordable, with prices typically lower than the national average by about 10%. In general, groceries and utilities are cheaper too. Overall, the cost of living in New Mexico State makes it a very attractive place for those looking for an affordable yet enjoyable lifestyle.