A wise sage once said “she works hard for the money” and these places in New Mexico definitely treat her right.
You see, these are the places in New Mexico where the cost of living is the lowest; where your salary goes the furthest. And when if you have the luxury of choosing where to live in the Land of Enchantment, then the cost of living should play a role in the decision.
So we did the hard for you and crunched the numbers to find the cities that have lower food, energy, and housing costs. After the dust settled on our analysis of the 32 largest places in New Mexico, we were left with this set of the best value for your money:
- Las Vegas
- Truth Or Consequences
- Sunland Park
So listen up Rio Rancho as we explain how we created this ranking, you could learn some things from the rest of the state.
How We Determined The Most Affordable Places To Live In The Land of Enchantment
There are basic necessities that you have to buy no matter where in the country you live. Those things include:
- Health Insurance
You can then compare the cost of these things in each of the places in New Mexico to figure out which is the least expensive.
What you are left with is a “Cost of Living Index” that normalizes to 100 for an average place in the United States.
So we used that cost of living index in order to rank all of the 32 places in New Mexico that have more than 5,000 people.
And just so you can better understand how the cost of living index works, 100 is the average cost of a place in the United States. A score of 90 means that the place cost 10% less than average. A score of 90 means it’s 10% less expensive.
San Francisco has a score of 243 meaning it’s almost 2.5 times as expensive as the average place in the country.
Population: 5,313 Services: 92
Population: 6,825 Services: 84
Population: 8,591 Services: 93
4. Las Vegas
Population: 13,701 Services: 84
Population: 48,167 Services: 94
6. Truth Or Consequences
Population: 6,477 Services: 93
7. Sunland Park
Population: 14,267 Services: 93
Population: 12,327 Services: 94
Population: 14,864 Services: 93
Population: 10,993 Services: 100
Detailed List Of Affordable Places In New Mexico
|Truth Or Consequences||6|
|Los Ranchos De Albuquerque||31|