Cost Of Living in Shiprock, 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	Shiprock	New Mexico	National
Cost of living	85	93	100
Goods & Services	99	97	100
Groceries	104	97	100
Health care	109	97	100
Housing	48	86	100
Transportation	109	95	100
Utilities	90	90	100

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Cost Of Living Quick Facts

The cost of living in Shiprock is 9% lower than the New Mexico average
The cost of living in Shiprock is 15% lower than the national average
Shiprock housing is 52% 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	$55,919	$4,660	$1,305	$1,678
Renters	$28,294	$2,358	$660	$849

To approximate the cost of living and the housing affordability in Shiprock, NM, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Shiprock have a median income of $55,919. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,305 per month to avoid calamity and poverty. The renters in the city have an income of about $28,294, which would make their monthly maximum allowable rental costs $660.

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	Shiprock	National avg.	Difference
Haircut	$27.07	$24.26	11.6%
Beauty Salon	$38.50	$45.56	15.5%
Toothpaste	$3.65	$3.70	1.5%
Shampoo	$1.11	$1.28	13.1%
Movie	$10.84	$12.13	10.6%
Bowling	$13.55	$18.00	24.7%

Groceries

Item	Shiprock	National avg.	Difference
Ground Beef	$5.27	$5.84	9.7%
Fried Chicken	$1.39	$1.57	11.9%
Milk	$4.60	$4.67	1.5%
Potatoes	$4.16	$4.93	15.8%
Pizza	$12.49	$12.09	3.3%
Beer	$10.74	$10.41	3.2%

Health Care

Item	Shiprock	National avg.	Difference
Optometrist	$108.15	$125.68	13.9%
Doctor	$121.76	$135.78	10.3%
Dentist	$124.32	$113.29	9.7%
Ibuprofen	$10.46	$10.65	1.8%
Lipitor	$505.02	$468.60	7.8%

Housing

Item	Shiprock	National avg.	Difference
Home Price	$78,700.00	$184,700.00	57.4%
Avg. Mortgage Payment	$2,179.59	$2,346.69	7.1%
Apartment Rent	$573.00	$949.00	39.6%

Transportation

Item	Shiprock	National avg.	Difference
Gasoline	$3.55	$3.46	2.6%
Tire Balancing	$56.90	$59.92	5.0%

Utilities

Item	Shiprock	National avg.	Difference
All Electricity	$173.81	$193.99	10.4%
Phone	$193.95	$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.
Nenahnezad, NM	470	80	20.0%
Waterflow, NM	1,552	96	3.8%
Shiprock, NM	8,588	85	15.2%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
New Square, NY	8,589	156	56.4%
Barre, VT	8,590	100	0.4%
Bayport, NY	8,584	148	48.1%
Richmond Heights, MO	8,581	106	5.6%
Independence, KS	8,595	78	21.7%
Shiprock, NM	8,588	85	15.2%

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 Shiprock, NM