Cost of Living in Santa Cruz, NM

With a cost of living index of 67, Santa Cruz, NM is one of the most affordable cities in the country. Living here is 33% cheaper than the national average and 19% below the New Mexico state average of 86. Santa Cruz is a small community of 225 residents.

Housing costs are the biggest factor in Santa Cruz's cost of living. The median monthly rent is $550 (58% below the US median of $1,319), and the median home value sits at $209,400 (31% below the national median of $304,900). At current prices, the median home costs roughly 6x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Santa Cruz is $34,750, which is 54% lower than the national median of $75,149. Residents spend roughly 19% 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.

Everyday prices in the Santa Fe, 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.