Santa Fe, NM Cost Of Living
Cost Of Living In Santa Fe, NM Summary
Cost of living in Santa Fe 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 Santa Fe 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 Santa Fe is 111, with 100 being the average.
The cost of living index in Santa Fe is 1.1x higher than the national average.
Santa Fe ranks as the #40 cheapest in New Mexico out of 45.
Santa Fe ranks as the #3,765 cheapest out of 6,489 in the US.
The median home value in Santa Fe is $580,317.
The median income in Santa Fe is $70,110.
Table Of Contents
Santa Fe's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Santa Fe, NM?
According to the most recent data on the cost of living, Santa Fe has an overall cost of living index of 111, which is 1.1x higher than the national index of 100.
Compared to New Mexico, Santa Fe has a cost of living index that's 1.2x higher than New Mexico's index of 95.
The standard of living in Santa Fe ranks as #40 most affordable out of the 45 places we measured in New Mexico. By definition, that implies Santa Fe ranks as the #5 most expensive place in the Land of Enchantment.
For more reading on life in Santa Fe, check out:
In New Mexico
In America
Santa Fe Cost Of Living Vs. New Mexico
Six factors go into calculating the cost of living index in Santa Fe. Here is how it fairs on each of the criteria:
The Services index in Santa Fe is 99.
The Groceries index in Santa Fe is 98.
The Health index in Santa Fe is 94.
The Housing index in Santa Fe is 147.
The Transportation index in Santa Fe is 92.
The Utilities index in Santa Fe is 98.
| Living Expense | Santa Fe | New Mexico | National Average | |
|---|---|---|---|---|
| Overall | 111 | 95 | 100 | |
| Services | 99 | 96 | 100 | |
| Groceries | 98 | 96 | 100 | |
| Health | 94 | 95 | 100 | |
| Housing | 147 | 87 | 100 | |
| Transportation | 92 | 93 | 100 | |
| Utilities | 98 | 89 | 100 | |
Santa Fe, 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 Santa Fe is $580,317.
The Median Rent in Santa Fe is $1,380.
The Median Income in Santa Fe is $70,110.
The Home Value To Income in Santa Fe is 8.3x.
The Rent To Monthly Income in Santa Fe is 0.24x.
| Statistic | Santa Fe | New Mexico | United States |
|---|---|---|---|
| Median Home Value | $580,317 | $311,815 | $303,400 |
| Median Rent | $1,380 | $1,021 | $1,348 |
| Median Income | $70,110 | $62,125 | $78,538 |
| Home Value To Income | 8.3x | 5.0x | 3.9x |
| Rent To Monthly Income | 0.24x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Santa Fe, NM Costs By Category
Detailed Santa Fe Services Costs Vs. New Mexico
| Item | Santa Fe | 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 Santa Fe Groceries Costs Vs. New Mexico
| Item | Santa Fe | 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 Santa Fe Health Costs Vs. New Mexico
| Item | Santa Fe | New Mexico |
|---|---|---|
| Optometrist | $136.89 | $125.68 |
| Doctor | $134.17 | $135.78 |
| Dentist | $111.42 | $113.29 |
Detailed Santa Fe Transportation Costs Vs. New Mexico
| Item | Santa Fe | New Mexico |
|---|---|---|
| Gasoline | $3.5 | $3.46 |
| Tire Balancing | $43.87 | $59.92 |
Detailed Santa Fe Utilities Costs Vs. New Mexico
| Item | Santa Fe | New Mexico |
|---|---|---|
| All Electricity | $191.24 | $193.99 |
| Phone | $190.51 | $192.25 |
Santa Fe SnackAbility
/10
Cost Of Living In Cities Around Santa Fe
The cost of living varies in the cities and towns around Santa Fe. Here's a quick look at the cost of living in the most populous nearby places:
Rio Rancho, NM has a cost of living index of 103, 0.9x Santa Fe.
Los Alamos, NM has a cost of living index of 114, 1.0x Santa Fe.
North Valley, NM has a cost of living index of 98, 0.9x Santa Fe.
| City | Population | Cost Of Living | Vs. Santa Fe |
|---|---|---|---|
| Rio Rancho, NM | 106,533 | 103 | 0.9x |
| Los Alamos, NM | 13,471 | 114 | 1.0x |
| North Valley, NM | 11,474 | 98 | 0.9x |
| Bernalillo, NM | 9,068 | 95 | 0.9x |
| Edgewood, NM | 6,122 | 101 | 0.9x |
| Eldorado at Santa Fe, NM | 5,746 | 130 | 1.2x |
| White Rock, NM | 5,568 | 119 | 1.1x |
