Lovington, NM Cost Of Living
Cost Of Living In Lovington, NM Summary
Cost of living in Lovington 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 Lovington 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 Lovington is 89, with 100 being the average.
The cost of living index in Lovington is 0.9x lower than the national average.
Lovington ranks as the #15 cheapest in New Mexico out of 45.
Lovington ranks as the #1,060 cheapest out of 6,489 in the US.
The median home value in Lovington is $173,877.
The median income in Lovington is $67,284.
Table Of Contents
Lovington's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Lovington, NM?
According to the most recent data on the cost of living, Lovington has an overall cost of living index of 89, which is 0.9x lower than the national index of 100.
Compared to New Mexico, Lovington has a cost of living index that's 0.9x lower than New Mexico's index of 95.
The standard of living in Lovington ranks as #15 most affordable out of the 45 places we measured in New Mexico. By definition, that implies Lovington ranks as the #30 most expensive place in the Land of Enchantment.
For more reading on life in Lovington, check out:
In New Mexico
In America
Lovington Cost Of Living Vs. New Mexico
Six factors go into calculating the cost of living index in Lovington. Here is how it fairs on each of the criteria:
The Services index in Lovington is 97.
The Groceries index in Lovington is 98.
The Health index in Lovington is 90.
The Housing index in Lovington is 73.
The Transportation index in Lovington is 92.
The Utilities index in Lovington is 91.
| Living Expense | Lovington | New Mexico | National Average | |
|---|---|---|---|---|
| Overall | 89 | 95 | 100 | |
| Services | 97 | 96 | 100 | |
| Groceries | 98 | 96 | 100 | |
| Health | 90 | 95 | 100 | |
| Housing | 73 | 87 | 100 | |
| Transportation | 92 | 93 | 100 | |
| Utilities | 91 | 89 | 100 | |
Lovington, 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 Lovington is $173,877.
The Median Rent in Lovington is $1,063.
The Median Income in Lovington is $67,284.
The Home Value To Income in Lovington is 2.6x.
The Rent To Monthly Income in Lovington is 0.19x.
| Statistic | Lovington | New Mexico | United States |
|---|---|---|---|
| Median Home Value | $173,877 | $311,815 | $303,400 |
| Median Rent | $1,063 | $1,021 | $1,348 |
| Median Income | $67,284 | $62,125 | $78,538 |
| Home Value To Income | 2.6x | 5.0x | 3.9x |
| Rent To Monthly Income | 0.19x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Lovington, NM Costs By Category
Detailed Lovington Services Costs Vs. New Mexico
| Item | Lovington | New Mexico |
|---|---|---|
| Shampoo | $1.28 | $1.28 |
| Movie | $12.18 | $12.13 |
| Bowling | $22.25 | $18 |
| Haircut | $31.33 | $24.26 |
| Beauty Salon | $55.26 | $45.56 |
Detailed Lovington Groceries Costs Vs. New Mexico
| Item | Lovington | New Mexico |
|---|---|---|
| Ground Beef | $5.58 | $5.84 |
| Fried Chicken | $1.67 | $1.57 |
| Milk | $4.55 | $4.67 |
| Potatoes | $4.87 | $4.93 |
| Pizza | $13.76 | $12.09 |
| Beer | $10.37 | $10.41 |
| Toothpaste | $3.68 | $3.7 |
Detailed Lovington Health Costs Vs. New Mexico
| Item | Lovington | New Mexico |
|---|---|---|
| Optometrist | $129.03 | $125.68 |
| Doctor | $113.33 | $135.78 |
| Dentist | $109.67 | $113.29 |
Detailed Lovington Transportation Costs Vs. New Mexico
| Item | Lovington | New Mexico |
|---|---|---|
| Gasoline | $3.26 | $3.46 |
| Tire Balancing | $55.19 | $59.92 |
Detailed Lovington Utilities Costs Vs. New Mexico
| Item | Lovington | New Mexico |
|---|---|---|
| All Electricity | $189.14 | $193.99 |
| Phone | $207.58 | $192.25 |
Lovington SnackAbility
/10
Cost Of Living In Cities Around Lovington
The cost of living varies in the cities and towns around Lovington. Here's a quick look at the cost of living in the most populous nearby places:
Hobbs, NM has a cost of living index of 91, 1.0x Lovington.
Seminole, TX has a cost of living index of 92, 1.0x Lovington.
North Hobbs, NM has a cost of living index of 99, 1.1x Lovington.
| City | Population | Cost Of Living | Vs. Lovington |
|---|---|---|---|
| Hobbs, NM | 39,887 | 91 | 1.0x |
| Seminole, TX | 7,097 | 92 | 1.0x |
| North Hobbs, NM | 6,099 | 99 | 1.1x |
