Elephant Butte, NM is a small city located in Sierra County. It is known for its large lake of the same name, which attracts many outdoor enthusiasts. The cost of living in Elephant Butte is relatively low compared to the national average: 2 bedroom rent is $780, versus $1,430 in the US; and the Grocery Cost Index in Elephant Butte is 94 versus 100 in the US. Although it's a small city, there are plenty of local businesses that call Elephant Butte home, such as Southern New Mexico Tourism Company, Sierra Vista Outfitters Inc., and River Ranch RV Resort & Marina. Those looking for a laid-back lifestyle without sacrificing access to basic amenities need look no further than Elephant Butte.
Elephant Butte has an unemployment rate of 9.4%. The US average is 6.0%.
Elephant Butte has seen the job market increase by 1.7% over the last year. Future job growth over the next ten years is predicted to be 29.8%, which is lower than the US average of 33.5%.
Tax Rates for Elephant Butte
- The Sales Tax Rate for Elephant Butte is 8.2%. The US average is 7.3%.
- The Income Tax Rate for Elephant Butte 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 Elephant Butte
- The average income of a Elephant Butte resident is $20,611 a year. The US average is $28,555 a year.
- The Median household income of a Elephant Butte resident is $49,746 a year. The US average is $69,021 a year.