Grants, NM Cost Of Living
Cost Of Living In Grants, NM Summary
Cost of living in Grants research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Grants is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in New Mexico, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Grants is 89, with 100 being the average.
The cost of living index in Grants is 0.9x lower than the national average.
Grants ranks as the #15 cheapest in New Mexico out of 45.
Grants ranks as the #1,060 cheapest out of 6,489 in the US.
The median home value in Grants is $145,972.
The median income in Grants is $49,286.
Table Of Contents
Grants's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Grants, NM?
According to the most recent data on the cost of living, Grants has an overall cost of living index of 89, which is 0.9x lower than the national index of 100.
Compared to New Mexico, Grants has a cost of living index that's 0.9x lower than New Mexico's index of 95.
The standard of living in Grants ranks as #15 most affordable out of the 45 places we measured in New Mexico. By definition, that implies Grants ranks as the #30 most expensive place in the Land of Enchantment.
For more reading on life in Grants, check out:
In New Mexico
In America
Grants Cost Of Living Vs. New Mexico
Six factors go into calculating the cost of living index in Grants. Here is how it fairs on each of the criteria:
The Services index in Grants is 100.
The Groceries index in Grants is 98.
The Health index in Grants is 96.
The Housing index in Grants is 60.
The Transportation index in Grants is 95.
The Utilities index in Grants is 97.
| Living Expense | Grants | New Mexico | National Average | |
|---|---|---|---|---|
| Overall | 89 | 95 | 100 | |
| Services | 100 | 96 | 100 | |
| Groceries | 98 | 96 | 100 | |
| Health | 96 | 95 | 100 | |
| Housing | 60 | 87 | 100 | |
| Transportation | 95 | 93 | 100 | |
| Utilities | 97 | 89 | 100 | |
Grants, NM Housing Cost Breakdown
Housing swings affordability the most between places in New Mexico, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Grants is $145,972.
The Median Rent in Grants is $750.
The Median Income in Grants is $49,286.
The Home Value To Income in Grants is 3.0x.
The Rent To Monthly Income in Grants is 0.18x.
| Statistic | Grants | New Mexico | United States |
|---|---|---|---|
| Median Home Value | $145,972 | $311,815 | $303,400 |
| Median Rent | $750 | $1,021 | $1,348 |
| Median Income | $49,286 | $62,125 | $78,538 |
| Home Value To Income | 3.0x | 5.0x | 3.9x |
| Rent To Monthly Income | 0.18x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Grants, NM Costs By Category
Detailed Grants Services Costs Vs. New Mexico
| Item | Grants | New Mexico |
|---|---|---|
| Shampoo | $1.15 | $1.28 |
| Movie | $12.54 | $12.13 |
| Bowling | $20.89 | $18 |
| Haircut | $31.9 | $24.26 |
| Beauty Salon | $50.83 | $45.56 |
Detailed Grants Groceries Costs Vs. New Mexico
| Item | Grants | New Mexico |
|---|---|---|
| Ground Beef | $5.11 | $5.84 |
| Fried Chicken | $1.32 | $1.57 |
| Milk | $4.63 | $4.67 |
| Potatoes | $4.18 | $4.93 |
| Pizza | $13.42 | $12.09 |
| Beer | $11.07 | $10.41 |
| Toothpaste | $3.62 | $3.7 |
Detailed Grants Health Costs Vs. New Mexico
| Item | Grants | New Mexico |
|---|---|---|
| Optometrist | $136.89 | $125.68 |
| Doctor | $134.17 | $135.78 |
| Dentist | $111.42 | $113.29 |
Detailed Grants Transportation Costs Vs. New Mexico
| Item | Grants | New Mexico |
|---|---|---|
| Gasoline | $3.5 | $3.46 |
| Tire Balancing | $43.87 | $59.92 |
Detailed Grants Utilities Costs Vs. New Mexico
| Item | Grants | New Mexico |
|---|---|---|
| All Electricity | $191.24 | $193.99 |
| Phone | $190.51 | $192.25 |
Grants SnackAbility
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