Cost of Living in Lake Valley, NM

With a cost of living index of 89, Lake Valley, NM is a very affordable place to live. Living here is 11% cheaper than the national average and 3% above the New Mexico state average of 86. Lake Valley is a small community of 87 residents.

The median household income in Lake Valley is $80,739, which is 7% higher than the national median of $75,149.

Everyday prices in the Farmington, NM (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

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.