Cost of Living in Tano Road, NM

With a cost of living index of 183, Tano Road, NM is one of the most expensive cities in the United States. Living here is 83% more expensive than the national average and 97% above the New Mexico state average of 86. Tano Road is a small community of 1,581 residents.

Housing costs are the biggest factor in Tano Road's cost of living. The median monthly rent is $2,196 (66% above the US median of $1,319), and the median home value sits at $1,019,600 (234% above the national median of $304,900). At current prices, the median home costs roughly 6.1x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Tano Road is $166,649, which is 122% higher than the national median of $75,149. Residents spend roughly 16% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they more than offset the higher cost of living.

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.