Finding a cheap place to live in New Mexico,can be challenging. Given New Mexico’s higher-than-average unemployment rate, you’ll need a solid job to navigate life here comfortably.
If you choose one of New Mexico’s most affordable places, you’ll free up cash for tickets to Santa Fe’s New Mexico Music Fan Fare or a road trip to Taos. We’re sure there isn’t a wrong place to park your alien mobile in the Land of Enchantment, but some areas are more affordable.
To determine the most affordable places in New Mexico, we used Saturday Night Science to look at Census and Zillow data for home prices, rents, and costs of living.
Table Of Contents: Top Ten | Methodology | Table | FAQs | Summary
The 10 most affordable places to live in New Mexico
What’s the cheapest place to live in New Mexico? The cheapest place to live in New Mexico is Tucumcari.
Whether you’re seeking affordable fun like alien watching in Roswell or snowball fights in Angel Fire, the cheapest places in New Mexico offer unforgettable experiences.
Check out some more reading about New Mexico and the cheapest places in the country:
The 10 Cheapest Places To Live In New Mexico For 2026
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Population: 5,160
Overall Cost Of Living Index: 81
Median Income: $31,844
Median Home Price: $83,368
Median Rent: $704
Tucumcari is a great place to settle down if you’re looking for affordable living. With a median home value of $83,368 and a median rent of only $704, the cost of living in Tucumcari is relatively low compared to other cities in New Mexico.
Affordability isn’t the only reason to consider Tucumcari as your new home. This charming city boasts a population of 5,160 and is the county seat of Quay County. Founded in 1901, Tucumcari has a rich history and a vibrant culture. From its famous Route 66 landmarks to its annual Mesalands Community College’s Dinosaur Museum Powwow, there’s always something to see and do in Tucumcari.
More on Tucumcari: Data | Movers
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Population: 6,019
Overall Cost Of Living Index: 83
Median Income: $33,788
Median Home Price: $152,062
Median Rent: $714
You’d have a tough time finding a home in New Mexico for a cheaper price than you can get in Truth or Consequences. Homes here are the third lowest in the state, with a median price tag of $152,062. On top of that, renting in Truth or Consequences will only set you back $714/month, about half as much as the average rent in New Mexico.
Truth or Consequences is also home to the Riverbend Hot Springs, and we guarantee that once you sink yourself into some 100 degree water, financial concerns will be the last thing on your mind.
More on Truth Or Consequences: Data | Crime | Cost Of Living | Movers
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Population: 15,221
Overall Cost Of Living Index: 84
Median Income: $34,165
Median Home Price: $163,668
Median Rent: $586
Deming is the third most affordable city in New Mexico. It has the seventh lowest median home value at $163,668 and the second cheapest median rent at $586.
Located in Luna County, this hub of transport routes provides inexpensive living for its 15,221 residents. Deming delivers on dollars and sense when finding a cheap and fun place to live in New Mexico.
More on Deming: Data | Crime | Cost Of Living | Movers
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Population: 8,951
Overall Cost Of Living Index: 85
Median Income: $47,183
Median Home Price: $154,827
Median Rent: $783
Located some 75 miles west down Route 66 from Albuquerque, Grants ranks as the fourth most affordable place to call home in New Mexico. We already named Grants as one of the best cities for families in New Mexico, so finding out it’s also the fourth most affordable place to live is like winning the lottery.
Grants is known as the Uranium Capital of the World, which you can learn more about at the world’s only simulated uranium mining museum. Outdoorsy folks will always have something to do for free in Grants as well, between the hikes around El Malpais National Monument or the wonderfully strange Ice Cave & Bandera Volcano.
The overall cost of living in Grants is 19% below the national average, but in terms of housing, the city is even cheaper than that. The median home price in Grants is $154,827, the fifth cheapest in New Mexico.
The median household income in Grants is $47,183, make it even easier to afford the finer things in life. If you want to give Grants a try without committing to a mortgage, the median rent here is a very reasonable $783.
More on Grants: Data | Crime | Cost Of Living | Movers
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Population: 8,767
Overall Cost Of Living Index: 87
Median Income: $38,132
Median Home Price: $235,805
Median Rent: $561
Anthony, straddling the New Mexico/Texas line in the El Paso-Las Cruces region, boasts an overall cost of living 6.5% below the New Mexico average.
With a median home value at $235,805 and median rent at $561, it’s the fifth cheapest place to live in NM, offering budget-friendly living within reach of two major urban centers and Franklin Mountains State Park for some free fun.
More on Anthony: Data | Crime | Cost Of Living | Movers
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Population: 7,450
Overall Cost Of Living Index: 87
Median Income: $42,627
Median Home Price: $266,791
Median Rent: $916
Belen is the second most populous city in Valencia County, New Mexico, United States, after its county seat Los Lunas. The population was 7,152 in 2015 census data.
More on Belen: Data | Crime | Cost Of Living | Movers
Belen is not a bad place. Try roswell my hometown where lots of crime and shootings. Example a kid shooting in a school- Glad i moved to belen for sake of my kids.
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Population: 13,000
Overall Cost Of Living Index: 88
Median Income: $45,125
Median Home Price: $241,426
Median Rent: $792
Las Vegas is a city in and the county seat of San Miguel County, New Mexico, United States. Once two separate municipalities both named Las Vegas, west Las Vegas and east Las Vegas, separated by the Gallinas River, retain distinct characters and separate, rival school districts. The population was 14,565 at the 2000 census. Las Vegas, NM is located 110 miles south of Raton, New Mexico, 65 miles east of Santa Fe, New Mexico, 122 miles northeast of Albuquerque, New Mexico, 257 miles south of Colorado Springs, Colorado, and 326 miles south of Denver, Colorado.
More on Las Vegas: Data | Crime | Cost Of Living | Movers
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Population: 11,968
Overall Cost Of Living Index: 88
Median Income: $50,555
Median Home Price: $134,843
Median Rent: $903
Portales ranks as one of the most affordable places to live in New Mexico. With a median home value of $134,843 and a median rent of just $903, residents can expect to save money on housing costs compared to other cities in the state.
As the county seat of Roosevelt County, Portales has a population of 11,968 and is located near larger population centers like Clovis and the Cannon Air Force Base. This makes it an ideal location for those who want access to urban amenities while still enjoying the small town feel.
More on Portales: Data | Crime | Cost Of Living | Movers
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Population: 47,638
Overall Cost Of Living Index: 90
Median Income: $51,583
Median Home Price: $173,066
Median Rent: $876
Roswell is the well-known for being the crash site of an alleged UFO in 1947, but the fifth biggest city in New Mexico has a lot more going on than conspiracy theories about aliens. Like being the ninth most affordable place to buy a home in the state, with a median home price of $173,066.
Slightly less affordable rent keeps Roswell from a spot in the top three, however. In any case, know that if you have no interest in learning about UFOs, Roswell has plenty of natural beauty around to keep you occupied.
More on Roswell: Data | Crime | Cost Of Living | Movers
We love our new home state because houses are affordable and the people are wonderful. I agree what you described is Albuquerque. The mountains here are stunning. The climate is astonishing. NM is enchanting. Sorry you have not seen more of it.
Science abounds here. Space history, solar studies, and the Very Large Array.
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Population: 21,023
Overall Cost Of Living Index: 90
Median Income: $58,303
Median Home Price: $219,327
Median Rent: $927
Gallup ranks as the tenth cheapest place to live in New Mexico thanks to being an equally great place for renters and buyers. Gallup is the most diverse city in New Mexico with a 40% Native American population, including representatives from the Navajo, Zuni, and Hopi tribes. It’s also the place where residents pay the 12th lowest percentage of their income on housing, for both renting and buying. That’s with a median home price of $219,327 and a median rent of $927.
And don’t worry about being bored here; between the Chaco Culture National Park, the Navajo Code Talkers Museum, Red Rock Park, and Zuni Pueblo, there’s plenty of things to do in Gallup.
More on Gallup: Data | Crime | Cost Of Living | Movers
Cheapest places to live in New Mexico FAQs
The county in New Mexico with the lowest cost of living is Dona Ana County. The average living wage in Dona Ana County is $84,047 according to MIT data. Dona Ana County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to New Mexico as a whole. Childcare costs $13,453 a year in Dona Ana County for two children compared to the New Mexico average of $13,539. Housing costs, defined as a blend of the average rent and average mortgage payment, are $8,808 per year in Dona Ana County compared to $10,722 on average in New Mexico.
The cost of living in New Mexico is 3.8% lower than the US average. According to MIT, the required living wage for a family of four with two working parents in New Mexico is $86,326 vs the national average for a family of four with two working parents of $89,744. The median income of a New Mexico household is $51,243.
The cheapest housing market in New Mexico is Truth or Consequences. The average home value in Truth or Consequences is $84,300, the lowest in the state. The average home value in New Mexico is $175,700, almost 2.1 times higher than Truth or Consequences.
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The county in New Mexico with the lowest cost of living is Dona Ana County. The average living wage in Dona Ana County is $84,047 according to MIT data. Dona Ana County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to New Mexico as a whole. Childcare costs $13,453 a year in Dona Ana County for two children compared to the New Mexico average of $13,539. Housing costs, defined as a blend of the average rent and average mortgage payment, are $8,808 per year in Dona Ana County compared to $10,722 on average in New Mexico.
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Methodology: How we determined the most affordable places to live in the Land of Enchantment for 2026
Determining affordability for places in New Mexico boils down to how much it costs to live here.
You need to understand your costs relative to what people in the rest of the state are paying.
With that logic in mind, we derived several cost of living statistics from the latest Census American Community Survey 2020-2024 for New Mexico using Saturday Night Science. We indexed the cost of living statistics across the following categories:
- Housing
- Transportation
- Services
- Groceries
- Healthcare
- Utilities
These are then weighted together to produce an overall cost of living index where 100 is the United States average. Anything below 100 is relatively affordable. Anything over 100 is relatively expensive.
We applied the biggest weight to housing as it typically accounts for 25% or more of your budget. Additionally, housing costs are the highest variant cost across a state. We then compare these cost of living metrics for each place in New Mexico to figure out which is the least expensive.
The “Cost of Living Index” allows you to rank all of the 34 places in New Mexico that have more than 5,000 people from least expensive to most expensive. Any ties went to the larger city.
The place in New Mexico with the lowest cost of living according to the data is Tucumcari.
We updated this article for 2026. This report reflects our eleventh time ranking the cheapest places to live in New Mexico.
New Mexico Affordabilility Summary
This is an accurate list of the most affordable places to live in New Mexico for 2026, if you’re looking at the cost of living numbers in New Mexico.
The cheapest cities in New Mexico are Tucumcari, Truth or Consequences, Deming, Grants, Anthony, Belen, Las Vegas, Portales, Roswell, and Gallup.
Here’s a look at the most expensive cities in New Mexico according to the data:
- Corrales
- Los Ranchos de Albuquerque
- Santa Fe
For more New Mexico reading, check out:
- Safest Places In New Mexico
- Richest Cities In New Mexico
- Best Places To Raise A Family In New Mexico
Cheapest Places To Live In New Mexico
| Rank | City | Population | Cost Of Living Index | Median Income | Home Prices | Rent |
|---|---|---|---|---|---|---|
| 1 | Tucumcari | 5,160 | 81 | $31,844 | $83,368 | $704 |
| 2 | Truth or Consequences | 6,019 | 83 | $33,788 | $152,062 | $714 |
| 3 | Deming | 15,221 | 84 | $34,165 | $163,668 | $586 |
| 4 | Grants | 8,951 | 85 | $47,183 | $154,827 | $783 |
| 5 | Anthony | 8,767 | 87 | $38,132 | $235,805 | $561 |
| 6 | Belen | 7,450 | 87 | $42,627 | $266,791 | $916 |
| 7 | Las Vegas | 13,000 | 88 | $45,125 | $241,426 | $792 |
| 8 | Portales | 11,968 | 88 | $50,555 | $134,843 | $903 |
| 9 | Roswell | 47,638 | 90 | $51,583 | $173,066 | $876 |
| 10 | Gallup | 21,023 | 90 | $58,303 | $219,327 | $927 |
| 11 | Lovington | 11,498 | 90 | $68,821 | $174,978 | $1,014 |
| 12 | Hobbs | 40,252 | 91 | $64,021 | $207,135 | $1,112 |
| 13 | Alamogordo | 31,307 | 91 | $55,952 | $223,172 | $902 |
| 14 | Socorro | 8,481 | 91 | $39,375 | $190,942 | $711 |
| 15 | Bloomfield | 7,395 | 91 | $48,472 | $252,907 | $984 |
| 16 | Clovis | 37,942 | 92 | $54,820 | $161,214 | $988 |
| 17 | Silver City | 9,536 | 92 | $38,711 | $225,704 | $866 |
| 18 | Las Cruces | 114,197 | 93 | $55,422 | $290,022 | $974 |
| 19 | Sunland Park | 17,463 | 93 | $62,814 | $223,741 | $920 |
| 20 | Raton | 6,026 | 93 | $52,641 | $152,896 | $741 |
| 21 | Aztec | 6,150 | 95 | $41,977 | $274,928 | $629 |
| 22 | Bernalillo | 9,086 | 96 | $63,880 | $347,986 | $902 |
| 23 | Carlsbad | 31,746 | 98 | $72,306 | $251,561 | $1,236 |
| 24 | Artesia | 12,576 | 98 | $74,915 | $245,539 | $1,288 |
| 25 | Farmington | 46,314 | 99 | $68,784 | $276,499 | $1,037 |
| 26 | Los Lunas | 18,618 | 99 | $62,330 | $324,073 | $1,110 |
| 27 | Rio Rancho | 108,515 | 100 | $89,596 | $361,856 | $1,514 |
| 28 | Ruidoso | 7,699 | 101 | $52,736 | $332,549 | $944 |
| 29 | Albuquerque | 562,218 | 102 | $68,317 | $344,457 | $1,145 |
| 30 | Edgewood | 6,124 | 103 | $84,761 | $382,908 | $1,114 |
| 31 | Taos | 6,458 | 107 | $47,304 | $439,303 | $883 |
| 32 | Santa Fe | 89,019 | 113 | $73,482 | $580,021 | $1,463 |
| 33 | Los Ranchos de Albuquerque | 5,857 | 127 | $72,992 | $705,207 | $1,061 |
| 34 | Corrales | 8,555 | 131 | $102,307 | $703,888 | $1,143 |