Las Vegas, NM Cost Of Living
Cost Of Living In Las Vegas, NM Summary
Cost of living in Las Vegas 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 Las Vegas 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 Las Vegas is 90, with 100 being the average.
The cost of living index in Las Vegas is 0.9x lower than the national average.
Las Vegas ranks as the #19 cheapest in New Mexico out of 45.
Las Vegas ranks as the #1,206 cheapest out of 6,489 in the US.
The median home value in Las Vegas is $224,803.
The median income in Las Vegas is $42,732.
Table Of Contents
Las Vegas's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Las Vegas, NM?
According to the most recent data on the cost of living, Las Vegas has an overall cost of living index of 90, which is 0.9x lower than the national index of 100.
Compared to New Mexico, Las Vegas has a cost of living index that's 0.9x lower than New Mexico's index of 95.
The standard of living in Las Vegas ranks as #19 most affordable out of the 45 places we measured in New Mexico. By definition, that implies Las Vegas ranks as the #26 most expensive place in the Land of Enchantment.
For more reading on life in Las Vegas, check out:
In New Mexico
In America
Las Vegas Cost Of Living Vs. New Mexico
Six factors go into calculating the cost of living index in Las Vegas. Here is how it fairs on each of the criteria:
The Services index in Las Vegas is 100.
The Groceries index in Las Vegas is 98.
The Health index in Las Vegas is 98.
The Housing index in Las Vegas is 66.
The Transportation index in Las Vegas is 93.
The Utilities index in Las Vegas is 100.
| Living Expense | Las Vegas | New Mexico | National Average | |
|---|---|---|---|---|
| Overall | 90 | 95 | 100 | |
| Services | 100 | 96 | 100 | |
| Groceries | 98 | 96 | 100 | |
| Health | 98 | 95 | 100 | |
| Housing | 66 | 87 | 100 | |
| Transportation | 93 | 93 | 100 | |
| Utilities | 100 | 89 | 100 | |
Las Vegas, 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 Las Vegas is $224,803.
The Median Rent in Las Vegas is $731.
The Median Income in Las Vegas is $42,732.
The Home Value To Income in Las Vegas is 5.3x.
The Rent To Monthly Income in Las Vegas is 0.21x.
| Statistic | Las Vegas | New Mexico | United States |
|---|---|---|---|
| Median Home Value | $224,803 | $311,815 | $303,400 |
| Median Rent | $731 | $1,021 | $1,348 |
| Median Income | $42,732 | $62,125 | $78,538 |
| Home Value To Income | 5.3x | 5.0x | 3.9x |
| Rent To Monthly Income | 0.21x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Las Vegas, NM Costs By Category
Detailed Las Vegas Services Costs Vs. New Mexico
| Item | Las Vegas | 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 Las Vegas Groceries Costs Vs. New Mexico
| Item | Las Vegas | 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 Las Vegas Health Costs Vs. New Mexico
| Item | Las Vegas | New Mexico |
|---|---|---|
| Optometrist | $136.89 | $125.68 |
| Doctor | $134.17 | $135.78 |
| Dentist | $111.42 | $113.29 |
Detailed Las Vegas Transportation Costs Vs. New Mexico
| Item | Las Vegas | New Mexico |
|---|---|---|
| Gasoline | $3.5 | $3.46 |
| Tire Balancing | $43.87 | $59.92 |
Detailed Las Vegas Utilities Costs Vs. New Mexico
| Item | Las Vegas | New Mexico |
|---|---|---|
| All Electricity | $191.24 | $193.99 |
| Phone | $190.51 | $192.25 |
Las Vegas SnackAbility
/10
Cost Of Living In Cities Around Las Vegas
The cost of living varies in the cities and towns around Las Vegas. Here's a quick look at the cost of living in the most populous nearby places:
Santa Fe, NM has a cost of living index of 111, 1.2x Las Vegas.
Eldorado at Santa Fe, NM has a cost of living index of 130, 1.4x Las Vegas.
| City | Population | Cost Of Living | Vs. Las Vegas |
|---|---|---|---|
| Santa Fe, NM | 88,224 | 111 | 1.2x |
| Eldorado at Santa Fe, NM | 5,746 | 130 | 1.4x |
