Santa Fe, NM Cost Of Living

Demographics | Cost Of Living
Updated: 2023-11-15

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 100, with 100 being the average.

  • The cost of living index in Santa Fe is 1.0x lower than the national average.

  • Santa Fe ranks as the #38 cheapest in New Mexico out of 44.

  • Santa Fe ranks as the #3,149 cheapest out of 6,412 in the US.

  • The median home value in Santa Fe is $312,300.

  • The median income in Santa Fe is $61,990.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
100
Santa Fe's Overall Cost Of Living
1.0x
Lower 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 100, which is 1.0x lower than the national index of 100.

Compared to New Mexico, Santa Fe has a cost of living index that's 1.1x higher than New Mexico's index of 94.

The standard of living in Santa Fe ranks as #38 most affordable out of the 44 places we measured in New Mexico. By definition, that implies Santa Fe ranks as the #6 most expensive place in the Land of Enchantment.

For more reading on life in Santa Fe, check out:

38 out of 44
In New Mexico
3,149 out of 6,412
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 84.

  • The Groceries index in Santa Fe is 96.

  • The Health index in Santa Fe is 99.

  • The Housing index in Santa Fe is 130.

  • The Transportation index in Santa Fe is 86.

  • The Utilities index in Santa Fe is 94.

Living Expense Santa Fe New Mexico National Average
Overall 100 94 100
Services 84 97 100
Groceries 96 96 100
Health 99 100 100
Housing 130 88 100
Transportation 86 96 100
Utilities 94 91 100
For more reading on cost of living around New Mexico, check out:
Santa Fe Cost of Living Vs. NM

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 2017-2021. The key points are:

  • The Median Home Value in Santa Fe is $312,300.

  • The Median Rent in Santa Fe is $1,199.

  • The Median Income in Santa Fe is $61,990.

  • The Home Value To Income in Santa Fe is 5.0x.

  • The Rent To Monthly Income in Santa Fe is 0.23x.

Statistic Santa Fe New Mexico United States
Median Home Value $312,300 $184,800 $244,900
Median Rent $1,199 $897 $1,163
Median Income $61,990 $54,020 $69,021
Home Value To Income 5.0x 3.4x 3.5x
Rent To Monthly Income 0.23x 0.2x 0.2x
Search Homes For Sale In Santa Fe, NM
$312,300
Median Home Value
$1,199
Median Rent
$61,990
Median Income

Santa Fe, NM Costs By Category

Detailed Santa Fe Services Costs Vs. New Mexico

Item Santa Fe New Mexico
Shampoo $0.92 $1.06
Movie $9.5 $10.68
Bowling $11.2 $14.67
Haircut $18.38 $18.62
Beauty Salon $35.53 $39.05

Detailed Santa Fe Groceries Costs Vs. New Mexico

Item Santa Fe New Mexico
Ground Beef $4.9 $4.22
Fried Chicken $1.11 $1.39
Milk $1.96 $2.05
Potatoes $3.05 $3.29
Pizza $9.67 $10.62
Beer $8.22 $9.38
Toothpaste $2.79 $2.34

Detailed Santa Fe Health Costs Vs. New Mexico

Item Santa Fe New Mexico
Optometrist $118.86 $108.57
Doctor $127.67 $116.17
Dentist $86.56 $99.13

Detailed Santa Fe Transportation Costs Vs. New Mexico

Item Santa Fe New Mexico
Gasoline $1.97 $2.22
Tire Balancing $40.79 $50.07

Detailed Santa Fe Utilities Costs Vs. New Mexico

Item Santa Fe New Mexico
All Electricity $150.01 $167.67
Phone $183.97 $175.64

Santa Fe SnackAbility

7
/10
Overall SnackAbility
Jobs
7/10
Housing
8.5
Affordability
4
Diversity
9
Safety
N/A
Amenities
8.5
Education
8
Commute
8.5

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 94, 0.9x Santa Fe.

  • Los Alamos, NM has a cost of living index of 103, 1.0x Santa Fe.

  • North Valley, NM has a cost of living index of 96, 1.0x Santa Fe.

City Population Cost Of Living Vs. Santa Fe
Rio Rancho, NM 102,403 94 0.9x
Los Alamos, NM 13,270 103 1.0x
North Valley, NM 12,594 96 1.0x
Bernalillo, NM 9,049 85 0.8x
Edgewood, NM 6,106 97 1.0x
White Rock, NM 5,716 104 1.0x
Eldorado at Santa Fe, NM 5,419 120 1.2x

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