Monument, New Mexico is a small town located just off of Interstate 25. It is known for its scenic views, local businesses, and affordable living. The median 2-bedroom rent in Monument is $1,020 - far lower than the national average of $1,430. Additionally, the Grocery Cost Index in Monument is 93 compared to 100 nationally. As such, housing and groceries are much more affordable in this area than in many other locations throughout the US.
Local companies and amenities include White Sands Monument Park, Mountain Sun Winery, Raven's Rest Hot Springs Resort & Spa, Bellagio Pizza & Pasta House, Palomas Mexican Restaurant and Cantina Bar, Monument Motors LLC and Taos Ski Valley. With its beautiful views and low cost of living coupled with its convenient location near Santa Fe and Albuquerque makes Monument an attractive destination to live or visit.
Monument has an unemployment rate of 11.3%. The US average is 6.0%.
Monument has seen the job market decrease by -12.8% over the last year. Future job growth over the next ten years is predicted to be 22.3%, which is lower than the US average of 33.5%.
Tax Rates for Monument
- The Sales Tax Rate for Monument is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Monument 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 Monument
- The average income of a Monument resident is $47,480 a year. The US average is $37,638 a year.
- The Median household income of a Monument resident is $0 a year. The US average is $69,021 a year.