Cost of Living in Cloudcroft, NM

With a cost of living index of 77, Cloudcroft, NM is a very affordable place to live. Living here is 23% cheaper than the national average and 9% below the New Mexico state average of 86. Cloudcroft is a small community of 1,275 residents.

Housing costs are the biggest factor in Cloudcroft's cost of living. The median monthly rent is $938 (29% below the US median of $1,319), and the median home value sits at $200,000 (34% below the national median of $304,900). At current prices, the median home costs roughly 5.2x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Cloudcroft is $38,428, which is 49% lower than the national median of $75,149. Residents spend roughly 29% 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.