Cost of Living in Santa Fe, NM

Population 88,224 · New Mexico · Data vintage 2023

123

Cost Index
(100 = US avg)

Page updated: April 2026 · Data vintage: 2023 ACS 5-Year

Sources: Census ACS·BLS·NOAA·EPA·Zillow · Methodology

The Santa Fe cost-of-living profile is closer to the US median than most headline-grabbing metros — typical homes around $412,000, rents near $1,380 a month.

Geographically, Santa Fe is about 50 miles northeast of Rio Rancho, the nearest large metro. Median home values run roughly 51% higher than Rio Rancho's $273,000.

Cost Overview

Housing 135

Rent 105

Scale: 100 = US national average. Green < 90, Red > 110.

About the Cost of Living in Santa Fe

The median home value in Santa Fe is $411,500 — 35% above the national median of $305,000. Median rent runs $1,380/month, 5% higher than the national median of $1,314/month. The median household income of $70,110/year is 6% lower than the US median of $74,580. The local unemployment rate is 5.1%, above the national average of 4.8%. New Mexico's top state income tax rate is 5.9% and the combined sales tax is 7.7%. The climate averages highs of 66.8°F and lows of 37.2°F. Overall, Santa Fe has a cost of living index of 123 versus the US average of 100, meaning it is 23% more expensive.

🏠 Housing

Median Home Value

$411,500

35% above avg

Zillow Home Value

$570,822

Zillow ZHVI

Median Rent

$1,380/mo

5% above avg

Zillow Rent

$1,938/mo

Zillow ZORI

Price-to-Rent Ratio

24.8x

Favors renting

Property Tax Rate

0.8%

Effective rate

HUD Fair Market Rents by Bedroom

Studio

$678

1 BR

$790

2 BR

$933

3 BR

$1,307

4 BR

$1,549

Owner-occupied 62.8%

Renter-occupied 37.2%

💰 Estimated Monthly Budget

Rent median rent

$1,380

Groceries national estimate

$400

Utilities local estimate

$88

Transportation local gas prices

$126

Estimated Total $1,994/mo

Estimates based on median data and national averages. Actual costs vary.

🛒 Food & Groceries

National BLS average prices (2023). Local prices may vary.

🥚

Eggs (dozen)

$0.548

🍞

White Bread (lb)

$1.912

🥩

Ground Beef (lb)

$5.61

🚗 Transportation

Avg Commute

22.2 min

18% below avg

Gas Price

$3.145/gal

0% below avg

Work From Home

16.2%

Commute Mode

Drove alone

69.8%

Carpooled

8.7%

Public transit

1.3%

Walked

2.5%

Bicycle

0.8%

Work from home

16.2%

⚡ Utilities

Electricity

$0.176/kWh

0% below avg

📋 Taxes

State Income Tax 5.9%

Total Sales Tax 7.7%

State rate 5.0%

Avg local rate 2.7%

Property Tax 0.8%

💼 Income & Employment

Median Household Income

$70,110

6% below avg

Per Capita Income

$47,121

Unemployment Rate

5.1%

5% above avg

Poverty Rate

13.9%

Labor Force Participation

60.7%

🎓 Education

Bachelor's degree+ 21.5%

Graduate degree 23.9%

👥 Demographics

Median Age 46.4

Male median age 44.2

Female median age 47.5

🌤 Climate

NOAA 1991–2020 Climate Normals

Avg High

66.8°F

Avg Low

37.2°F

Annual Precip

10.7"

Month	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
High °F	44	50	59	66	76	87	89	86	80	68	54	44
Low °F	20	23	28	34	43	52	58	56	49	38	27	20
Precip"	0.45	0.35	0.66	0.53	0.63	0.55	1.82	1.96	1.34	1.22	0.70	0.50

💨 Air Quality

EPA AQS 2023 — county-level monitoring data

Median AQI 44 — Good

78.5%

Good air days/yr

Max AQI recorded

PM2.5 days

332

Ozone days

🏫 Schools

NCES CCD 2019 — public school district data

85.4%

4-Year Graduation Rate

14.5:1

Student-teacher ratio

Public schools

15,585

Total enrollment

Frequently Asked Questions

What is the cost of living in Santa Fe, NM?

Santa Fe has a cost index of 123 (100 = national average). It is 23% above the national average.

What is average rent in Santa Fe, NM?

The median gross rent in Santa Fe is $1,380 per month based on 2023 Census data.

What is the average home price in Santa Fe?

The median home value in Santa Fe is $411,500 according to Zillow and Census data.

What is the median income in Santa Fe?

The median household income in Santa Fe is $70,110 per year (2023 ACS 5-year estimates).

What is the sales tax in Santa Fe, NM?

The combined state and local sales tax rate in Santa Fe is 7.7%. The New Mexico state income tax top rate is 5.9%.

Is Santa Fe, NM affordable?

Santa Fe is above average in cost of living, with an index of 123 — about 23% higher than the national average.

What is the weather like in Santa Fe?

Santa Fe has average high temperatures of 66.8°F and average lows of 37.2°F. Annual precipitation is 10.7". Data from NOAA 1991–2020 Climate Normals.

Santa Fe at a Glance

Population: 88,224
Median Income: $70,110
Home Value: $411,500
Median Rent: $1,380/mo
Unemployment: 5.1%
Avg High Temp: 66.8°F
Sales Tax: 7.7%

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