A+
20%
Overall NAT. AVG.
6%
Goods & Services NAT. AVG.
51%
Housing NAT. AVG.
Search Homes for Sale
Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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 Deming New Mexico National
Cost of living8093100
Goods & Services9497100
Groceries9697100
Health care9897100
Housing4986100
Transportation9695100
Utilities8190100

An Overview of Cost of Living in Deming, NM

Understanding the cost of living in Deming can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Deming cost of living index is 80, which is 20% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

As per the most recent annual cost of living index, Deming stands out as one of the most economical places to call home in the entire country. A mere few cities can claim a cost of living index that is at least 20% less than the national average, and Deming proudly belongs to this select category. This emphasizes the extraordinary affordability of this locality when compared with other areas.

Housing costs often consume a significant share of your take-home income, often surpassing 30%. Fortunately, Deming distinguishes itself by reporting housing expenses that are 51.5% below the national average. This indicates that both owning a home and renting in this area are notably more budget-friendly compared to the rest of the nation. With such favorable housing affordability, residents of Deming can allocate more of their income to housing, enhancing their financial flexibility.

Is Deming Affordable?

Wondering if Deming is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Deming, for example, the median home price is 52.2% lower than what folks pay nationally, and monthly rent is 49.6% lower than the usual rates. Plus, income levels matter too, with Deming boasting a median household income of $28,463, which is 48.6% lower than the national average.

What Factors can Influence the Cost of Living in Deming?

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Deming, healthcare costs are 1.7% lower than the national average.

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Deming comes in at 18.7% lower than the national average.

Where is the Data From?

The cost of living in Deming, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

New Real Estate Listings in Deming Area
Search Homes for Sale in Deming, NM

Cost Of Living Quick Facts

  • The cost of living in Deming is 14% lower than the New Mexico average
  • The cost of living in Deming is 20% lower than the national average
  • Deming housing is 51% 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

Most Affordable Places to Live in and Around Deming

See all the best places to live around Deming

Compare Deming, NM Cost of Living

      vs
      How would you rate the cost of living in Deming?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Deming?
      Write a review to give others more information about this area.
      See all Deming poll results

      Salary Calculator

      This is how much you would need to earn in
      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)
      Owners$42,026$3,502$981$1,261
      Renters$16,768$1,397$391$503
      A good indicator of the general affordability of housing in Deming, NM, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Deming, the median monthly income is $42,026 for those who own their own homes. Under the standard rule, that income level would allow for $981 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $16,768, per the median income in the area. That would allow for renters to spend up to $391 on monthly rental expenses.

      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 Deming National avg. Difference
      Haircut $24.56$24.261.2%
      Beauty Salon $46.00$45.561.0%
      Toothpaste $3.67$3.700.8%
      Shampoo $1.09$1.2815.2%
      Movie $13.00$12.137.1%
      Bowling $14.33$18.0020.4%

      Groceries

      Item Deming National avg. Difference
      Ground Beef $5.69$5.842.6%
      Fried Chicken $1.32$1.5716.1%
      Milk $4.53$4.673.0%
      Potatoes $4.15$4.9315.8%
      Pizza $12.38$12.092.4%
      Beer $10.68$10.412.5%

      Health Care

      Item Deming National avg. Difference
      Optometrist $150.67$125.6819.9%
      Doctor $140.33$135.783.4%
      Dentist $113.72$113.290.4%
      Ibuprofen $10.29$10.653.4%
      Lipitor $517.39$468.6010.4%

      Housing

      Item Deming National avg. Difference
      Home Price $88,200.00$184,700.0052.2%
      Avg. Mortgage Payment $2,303.17$2,346.691.9%
      Apartment Rent $478.00$949.0049.6%

      Transportation

      Item Deming National avg. Difference
      Gasoline $3.35$3.463.3%
      Tire Balancing $53.65$59.9210.5%

      Utilities

      Item Deming National avg. Difference
      All Electricity $192.00$193.991.0%
      Phone $189.63$192.251.4%
      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.
      Pulpotio Bareas, NM223937.0%
      Mountain View, NM78937.0%
      La Hacienda, NM4427228.1%
      Ventura, NM7807624.0%
      Keeler Farm, NM1,7948119.2%
      Deming, NM14,0838020.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Pell City, AL14,081972.8%
      Sun Village, CA14,08012020.1%
      Moultrie, GA14,0868614.0%
      Kings Park West, VA14,09016262.4%
      Red Bluff, CA14,0911088.5%
      Deming, NM14,0838020.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.