Cost Of Living in Eldorado at Santa Fe, 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	Eldorado at Santa Fe	New Mexico	National
Cost of living	130	93	100
Goods & Services	100	97	100
Groceries	97	97	100
Health care	96	97	100
Housing	204	86	100
Transportation	93	95	100
Utilities	99	90	100

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Cost Of Living Quick Facts

The cost of living in Eldorado at Santa Fe is 40% higher than the New Mexico average
The cost of living in Eldorado at Santa Fe is 30% higher than the national average
Eldorado at Santa Fe housing is 104% higher 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)
Owners	$76,599	$6,383	$1,787	$2,298
Renters	$86,012	$7,168	$2,007	$2,581

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Eldorado at Santa Fe, NM, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Eldorado at Santa Fe, homeowners have a median income of $76,599. Using that number, a maximum of $1,787 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $86,012, which means there is a maximum of $2,007 to be spent on the costs of renting a home or apartment.

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	Eldorado at Santa Fe	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	Eldorado at Santa Fe	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	Eldorado at Santa Fe	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	Eldorado at Santa Fe	National avg.	Difference
Home Price	$399,800.00	$184,700.00	116.5%
Avg. Mortgage Payment	$1,905.97	$2,346.69	18.8%
Apartment Rent	$1,645.00	$949.00	73.3%

Transportation

Item	Eldorado at Santa Fe	National avg.	Difference
Gasoline	$3.50	$3.46	1.1%
Tire Balancing	$43.87	$59.92	26.8%

Utilities

Item	Eldorado at Santa Fe	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.
Los Cerrillos, NM	90	98	2.1%
Rowe, NM	513	98	2.1%
Lamy, NM	158	98	2.1%
Pecos, NM	1,194	87	13.2%
La Cueva, NM	463	99	0.7%
Eldorado at Santa Fe, NM	5,510	130	29.6%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Whiskey Creek, FL	5,508	114	14.5%
Osoyoos, BC	5,513	n/a
Stroudsburg, PA	5,514	100	0.4%
Rockdale, TX	5,505	84	16.4%
Beardstown, IL	5,504	80	20.3%
Eldorado at Santa Fe, NM	5,510	130	29.6%

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 Eldorado at Santa Fe, NM