Sheep Springs, New Mexico is a small rural town located in the high desert of San Juan County. The town has a population of about 2,000 people and is home to several businesses including Ace Hardware, Shear Pleasure Hair Salon, and Pete's Pizza. The cost of living in Sheep Springs is comparatively lower than that of the United States as a whole. For example, the average two-bedroom rent in Sheep Springs is $810 compared to $1,430 nationally. Additionally, the Grocery Cost Index in Sheep Springs is 87 versus 100 in the US. This makes it much easier for residents to save money on their basic living expenses.
Sheep Springs has an unemployment rate of 9.7%. The US average is 6.0%.
Sheep Springs has seen the job market decrease by -7.9% over the last year. Future job growth over the next ten years is predicted to be 18.2%, which is lower than the US average of 33.5%.
Tax Rates for Sheep Springs
- The Sales Tax Rate for Sheep Springs is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Sheep Springs is 4.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Sheep Springs
- The average income of a Sheep Springs resident is $11,357 a year. The US average is $37,638 a year.
- The Median household income of a Sheep Springs resident is $22,750 a year. The US average is $69,021 a year.