Santa Teresa, NM Cost Of Living
Cost Of Living In Santa Teresa, NM Summary
Cost of living in Santa Teresa 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 Teresa 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 Teresa is 95, with 100 being the average.
The cost of living index in Santa Teresa is 0.9x lower than the national average.
Santa Teresa ranks as the #27 cheapest in New Mexico out of 45.
Santa Teresa ranks as the #1,954 cheapest out of 6,489 in the US.
The median home value in Santa Teresa is $314,571.
The median income in Santa Teresa is $60,759.
Table Of Contents
Santa Teresa's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Santa Teresa, NM?
According to the most recent data on the cost of living, Santa Teresa has an overall cost of living index of 95, which is 0.9x lower than the national index of 100.
Compared to New Mexico, Santa Teresa has a cost of living index that's 1.0x lower than New Mexico's index of 95.
The standard of living in Santa Teresa ranks as #27 most affordable out of the 45 places we measured in New Mexico. By definition, that implies Santa Teresa ranks as the #18 most expensive place in the Land of Enchantment.
For more reading on life in Santa Teresa, check out:
In New Mexico
In America
Santa Teresa Cost Of Living Vs. New Mexico
Six factors go into calculating the cost of living index in Santa Teresa. Here is how it fairs on each of the criteria:
The Services index in Santa Teresa is 95.
The Groceries index in Santa Teresa is 95.
The Health index in Santa Teresa is 90.
The Housing index in Santa Teresa is 100.
The Transportation index in Santa Teresa is 101.
The Utilities index in Santa Teresa is 86.
| Living Expense | Santa Teresa | New Mexico | National Average | |
|---|---|---|---|---|
| Overall | 95 | 95 | 100 | |
| Services | 95 | 96 | 100 | |
| Groceries | 95 | 96 | 100 | |
| Health | 90 | 95 | 100 | |
| Housing | 100 | 87 | 100 | |
| Transportation | 101 | 93 | 100 | |
| Utilities | 86 | 89 | 100 | |
Santa Teresa, 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 Teresa is $314,571.
The Median Rent in Santa Teresa is $1,259.
The Median Income in Santa Teresa is $60,759.
The Home Value To Income in Santa Teresa is 5.2x.
The Rent To Monthly Income in Santa Teresa is 0.25x.
| Statistic | Santa Teresa | New Mexico | United States |
|---|---|---|---|
| Median Home Value | $314,571 | $311,815 | $303,400 |
| Median Rent | $1,259 | $1,021 | $1,348 |
| Median Income | $60,759 | $62,125 | $78,538 |
| Home Value To Income | 5.2x | 5.0x | 3.9x |
| Rent To Monthly Income | 0.25x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Santa Teresa, NM Costs By Category
Detailed Santa Teresa Services Costs Vs. New Mexico
| Item | Santa Teresa | New Mexico |
|---|---|---|
| Shampoo | $1.21 | $1.28 |
| Movie | $9.5 | $12.13 |
| Bowling | $11.67 | $18 |
| Haircut | $18.67 | $24.26 |
| Beauty Salon | $38.94 | $45.56 |
Detailed Santa Teresa Groceries Costs Vs. New Mexico
| Item | Santa Teresa | New Mexico |
|---|---|---|
| Ground Beef | $5.68 | $5.84 |
| Fried Chicken | $1.57 | $1.57 |
| Milk | $4.53 | $4.67 |
| Potatoes | $4.55 | $4.93 |
| Pizza | $9.66 | $12.09 |
| Beer | $10.31 | $10.41 |
| Toothpaste | $3.64 | $3.7 |
Detailed Santa Teresa Health Costs Vs. New Mexico
| Item | Santa Teresa | New Mexico |
|---|---|---|
| Optometrist | $72.61 | $125.68 |
| Doctor | $96.89 | $135.78 |
| Dentist | $90.94 | $113.29 |
Detailed Santa Teresa Transportation Costs Vs. New Mexico
| Item | Santa Teresa | New Mexico |
|---|---|---|
| Gasoline | $2.97 | $3.46 |
| Tire Balancing | $45.89 | $59.92 |
Detailed Santa Teresa Utilities Costs Vs. New Mexico
| Item | Santa Teresa | New Mexico |
|---|---|---|
| All Electricity | $197.18 | $193.99 |
| Phone | $208.71 | $192.25 |
Santa Teresa SnackAbility
/10
Cost Of Living In Cities Around Santa Teresa
The cost of living varies in the cities and towns around Santa Teresa. Here's a quick look at the cost of living in the most populous nearby places:
El Paso, TX has a cost of living index of 90, 0.9x Santa Teresa.
Sunland Park, NM has a cost of living index of 86, 0.9x Santa Teresa.
Chaparral, NM has a cost of living index of 81, 0.9x Santa Teresa.
| City | Population | Cost Of Living | Vs. Santa Teresa |
|---|---|---|---|
| El Paso, TX | 678,147 | 90 | 0.9x |
| Sunland Park, NM | 17,085 | 86 | 0.9x |
| Chaparral, NM | 16,642 | 81 | 0.9x |
| Anthony, NM | 8,701 | 81 | 0.9x |
