Cost of Living in Chamisal, NM

With a cost of living index of 75, Chamisal, NM is a very affordable place to live. Living here is 25% cheaper than the national average and 11% below the New Mexico state average of 86. Chamisal is a small community of 367 residents.

Housing costs are the biggest factor in Chamisal's cost of living. The median monthly rent is $875 (34% below the US median of $1,319), and the median home value sits at $198,800 (35% below the national median of $304,900). At current prices, the median home costs roughly 4.9x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Chamisal is $40,833, which is 46% lower than the national median of $75,149. Residents spend roughly 26% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.