Cost of Living in Pecos, NM

With a cost of living index of 76, Pecos, NM is a very affordable place to live. Living here is 24% cheaper than the national average and 11% below the New Mexico state average of 86. Pecos is a small community of 1,145 residents.

Housing costs are the biggest factor in Pecos's cost of living. The median monthly rent is $729 (45% below the US median of $1,319), and the median home value sits at $260,000 (15% below the national median of $304,900). At current prices, the median home costs roughly 3.8x the median household income — a moderately affordable ratio by today's standards.

The median household income in Pecos is $69,327, which is 8% lower than the national median of $75,149. Residents spend roughly 13% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. 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.