Cost Of Living in Silver Hill, NM

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Silver Hill	Albuquerque	New Mexico
Cost of living	95	100	93
Goods & Services	100	100	97
Groceries	97	97	97
Health care	96	96	97
Housing	90	105	86
Transportation	93	93	95
Utilities	99	99	90

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Cost Of Living Quick Facts

The cost of living in Silver Hill is 3% higher than the Albuquerque average
The cost of living in Silver Hill is 5% lower than the national average
Silver Hill housing is 10% lower than the national average
New Mexico general sales tax is 2% lower than the national average
New Mexico state income tax is 35% lower than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Household	$28,529	$2,377	$666	$856

New Mexico Sales Tax

State	General Sales Tax	With Max Surtax
New Mexico	5%	8.688%

New Mexico Income Tax

State	Income Tax (Low)	Income Tax (High)
New Mexico	1.7%	5.9%

Goods & Services

Item	Albuquerque	National avg.	Difference
Haircut	$31.90	$24.26	31.5%
Beauty Salon	$50.83	$45.56	11.6%
Toothpaste	$3.62	$3.70	2.3%
Shampoo	$1.15	$1.28	10.5%
Movie	$12.54	$12.13	3.3%
Bowling	$20.89	$18.00	16.1%

Groceries

Item	Albuquerque	National avg.	Difference
Ground Beef	$5.11	$5.84	12.5%
Fried Chicken	$1.32	$1.57	16.1%
Milk	$4.63	$4.67	1.0%
Potatoes	$4.18	$4.93	15.3%
Pizza	$13.42	$12.09	11.0%
Beer	$11.07	$10.41	6.4%

Health Care

Item	Albuquerque	National avg.	Difference
Optometrist	$136.89	$125.68	8.9%
Doctor	$134.17	$135.78	1.2%
Dentist	$111.42	$113.29	1.7%
Ibuprofen	$10.43	$10.65	2.1%
Lipitor	$380.06	$468.60	18.9%

Housing

Item	Albuquerque	National avg.	Difference
Home Price	$204,100.00	$184,700.00	10.5%
Avg. Mortgage Payment	$1,905.97	$2,346.69	18.8%
Apartment Rent	$889.00	$949.00	6.3%

Transportation

Item	Albuquerque	National avg.	Difference
Gasoline	$3.50	$3.46	1.1%
Tire Balancing	$43.87	$59.92	26.8%

Utilities

Item	Albuquerque	National avg.	Difference
All Electricity	$191.24	$193.99	1.4%
Phone	$190.51	$192.25	0.9%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Chical, NM	205	98	2.1%
Pajarito Mesa, NM	310	76	24.3%
Isleta Village Proper, NM	489	83	17.2%
Monterey Park, NM	1,097	86	14.2%
Indian Hills, NM	810	92	8.2%
Albuquerque, NM	560,447	100	0.2%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Surrey, BC	560,150	n/a
Québec, QC	548,244	n/a
Tucson, AZ	545,340	101	1.1%
Milwaukee, WI	592,649	93	6.5%
Fresno, CA	526,147	116	16.5%
Albuquerque, NM	560,447	100	0.2%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Silver Hill, Albuquerque, NM