Cost of Living in Santa Fe, NM
Santa Fe, NM — prices, rents and what jobs really pay here after taxes.
Salary comparison calculator
What would you need to earn in Santa Fe, NM to keep the same lifestyle — after taxes — as in another city?
How expensive is Santa Fe, NM?
With a price level of 98.8 (U.S. average = 100), Santa Fe, NM is close to the national average. In detail, housing costs run 8% above average; everyday goods are 4% below average; utilities are 23% below average; other services such as healthcare and dining cost about the same as the national average. The biggest difference from the national average is in utilities.
Prices in Santa Fe, NM vs. the U.S. average
| Category | Index (U.S. = 100) | Difference |
|---|---|---|
| All items | 98.8 | −1.2% |
| Housing | 108.0 | +8.0% |
| Goods | 96.1 | −3.9% |
| Utilities | 76.7 | −23.3% |
| Other services | 98.5 | −1.5% |
Source: BEA Regional Price Parities, 2024.
Rent in Santa Fe, NM
| Unit | Monthly rent | Income needed (30% rule) |
|---|---|---|
| Studio | $1,259 | $50,360/yr |
| 1 bedroom | $1,390 | $55,600/yr |
| 2 bedrooms | $1,685 | $67,400/yr |
| 3 bedrooms | $2,122 | $84,880/yr |
| 4 bedrooms | $2,231 | $89,240/yr |
HUD Fair Market Rents, FY2026, population-weighted across the metro's counties.
Salary needed to live in Santa Fe, NM
To keep the same standard of living as in an average-priced U.S. city, you would need to earn roughly:
| Salary in an average U.S. city | Equivalent in Santa Fe, NM | Take-home here |
|---|---|---|
| $40,000 | $39,500 | $33,187 |
| $60,000 | $59,300 | $48,206 |
| $80,000 | $79,000 | $61,859 |
| $100,000 | $98,800 | $74,826 |
| $150,000 | $148,200 | $106,630 |
Scaled by the BEA price level (pre-tax). Take-home: single filer, New Mexico 2026 taxes. For a tax-aware comparison with a specific city, use the calculator above.
A monthly budget on the median wage
A single worker earning Santa Fe, NM's median wage of $48,710 takes home about $3,349 a month. A typical one-bedroom rents for $1,390, which is 42% of take-home pay — well above the 30% guideline, so many workers here share housing or rent smaller units. That leaves about $1,959 a month for everything else.
Take-home pay in Santa Fe, NM
- Federal income tax$3,665
- Social Security (6.2%)$3,020
- Medicare (1.45%)$706
- New Mexico income tax$1,127
- Take-home pay$40,191
Marginal rate: 12% federal + 4.30% state
Highest-paying jobs in Santa Fe, NM
| Job | Median salary | Take-home | Real value* |
|---|---|---|---|
| Secretaries and Administrative Assistants, Except Legal, Medical, and Executive | $50,170 | $41,299 | $41,815 |
*In U.S.-average dollars after adjusting for local prices.
Pay and living costs in New Mexico cities
Half of New Mexico’s 870,970 workers earn less than $47,210 a year and half earn more; the middle 50% earn $35,260–$75,030 (BLS, May 2025). Prices vary a lot within the state: Farmington, NM stretches a paycheck furthest, while Las Cruces, NM is the costliest.
| Metro area | Median pay | Price level | 1-BR rent | Rent share | Left after rent / mo | Buying power* |
|---|---|---|---|---|---|---|
| Albuquerque, NM | $48,060 | 95.5 | $1,185 | 36% | $2,123 | $41,547 |
| Las Cruces, NM | $42,070 | 90.2 | $951 | 32% | $1,977 | $38,954 |
| Santa Fe, NM | $48,710 | 98.8 | $1,390 | 42% | $1,959 | $40,693 |
| Farmington, NM | $45,820 | 87.7 | $885 | 28% | $2,281 | $43,319 |
*Yearly take-home pay (on each metro’s median wage, single filer) in U.S.-average dollars. Price level: BEA RPP 2024 (U.S. = 100). Rent: HUD FY2026 one-bedroom fair market rent.
Santa Fe, NM vs. similar-size cities
| Metro area | Price level | 1-BR rent | Median wage | Jobs |
|---|---|---|---|---|
| Santa Fe, NM | 98.8 | $1,390 | $48,710 | 61,770 |
| Pueblo, CO | 91.8 | $967 | $48,940 | 61,780 |
| Hattiesburg, MS | 87.6 | $888 | $37,750 | 62,230 |
| Decatur, AL | 87.2 | $776 | $46,280 | 61,240 |
| Vineland, NJ | 96.0 | $1,375 | $48,190 | 62,300 |
| Muskegon, MI | 92.5 | $942 | $46,060 | 62,340 |
| Dothan, AL | 83.8 | $751 | $38,170 | 60,720 |
Frequently asked questions
Is Santa Fe, NM expensive to live in?
According to the Bureau of Economic Analysis, overall prices in the Santa Fe, NM metro area are 98.8% of the U.S. average, with housing at 108.0%. It is the #99 most expensive of 387 metro areas we track.
What salary do you need to live in Santa Fe, NM?
To match the buying power of a $60,000 salary in an average-priced U.S. city you would need about $59,260 in Santa Fe, NM (before tax differences). The median wage across all jobs here is $48,710.
Can you afford Santa Fe, NM on the median wage?
A single worker on the $48,710 median wage takes home about $3,349 a month after 2026 taxes; a one-bedroom at $1,390 would take 42% of that.
How much is rent in Santa Fe, NM?
HUD’s FY2026 fair market rents for Santa Fe, NM are $1,259 for a studio, $1,390 for one bedroom, $1,685 for two bedrooms and $2,122 for three bedrooms, including utilities.