Cost of Living in Wagon Mound, NM

With a cost of living index of 76, Wagon Mound, NM is a very affordable place to live. Living here is 24% cheaper than the national average and 10% below the New Mexico state average of 86. Wagon Mound is a small community of 587 residents.

The median household income in Wagon Mound is $41,823, which is 44% lower than the national median of $75,149. Residents spend roughly 18% 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.