Cost of Living in Lake Arthur, NM

With a cost of living index of 64, Lake Arthur, NM is one of the most affordable cities in the country. Living here is 36% cheaper than the national average and 23% below the New Mexico state average of 86. Lake Arthur is a small community of 438 residents.

Housing costs are the biggest factor in Lake Arthur's cost of living. The median monthly rent is $728 (45% below the US median of $1,319), and the median home value sits at $113,900 (63% below the national median of $304,900). At current prices, the median home costs roughly 1.4x the median household income — well within traditional affordability guidelines.

The median household income in Lake Arthur is $81,875, which is 9% higher than the national median of $75,149. Residents spend roughly 11% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

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.