Cost Of Living in Los Chaves, 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	Los Chaves	New Mexico	National
Cost of living	95	93	100
Goods & Services	100	97	100
Groceries	97	97	100
Health care	96	97	100
Housing	90	86	100
Transportation	93	95	100
Utilities	99	90	100

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Cost Of Living Quick Facts

The cost of living in Los Chaves is 3% higher than the New Mexico average
The cost of living in Los Chaves is 5% lower than the national average
Los Chaves 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)
Owners	$78,162	$6,514	$1,824	$2,345
Renters	$0	$0	$0	$0

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Los Chaves, 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 Los Chaves, homeowners have a median income of $78,162. Using that number, a maximum of $1,824 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $0, which means there is a maximum of $0 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	Los Chaves	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	Los Chaves	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	Los Chaves	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	Los Chaves	National avg.	Difference
Home Price	$165,400.00	$184,700.00	10.4%
Avg. Mortgage Payment	$1,905.97	$2,346.69	18.8%
Apartment Rent	$0.00	$949.00	100.0%

Transportation

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

Utilities

Item	Los Chaves	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.
Adelino, NM	1,110	98	2.1%
Chical, NM	205	98	2.1%
Isleta Village Proper, NM	489	83	17.2%
Meadow Lake, NM	4,266	83	16.6%
Jarales, NM	2,207	84	16.2%
Los Chaves, NM	4,965	95	4.6%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Carle Place, NY	4,966	165	64.8%
South Barrington, IL	4,963	212	111.7%
Iroquois Point, HI	4,968	183	82.6%
Canutillo, TX	4,968	82	18.0%
Prospect, KY	4,961	125	24.8%
Los Chaves, NM	4,965	95	4.6%

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 Los Chaves, NM