Cost Of Living in Tucumcari, 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	Tucumcari	New Mexico	National
Cost of living	76	93	100
Goods & Services	92	97	100
Groceries	94	97	100
Health care	84	97	100
Housing	36	86	100
Transportation	92	95	100
Utilities	97	90	100

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Cost Of Living Quick Facts

The cost of living in Tucumcari is 18% lower than the New Mexico average
The cost of living in Tucumcari is 24% lower than the national average
Tucumcari housing is 64% 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	$41,575	$3,465	$970	$1,247
Renters	$23,703	$1,975	$553	$711

The affordability of the housing market in Tucumcari, NM as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Tucumcari homeowners, the median income is $41,575. This indicates that a monthly maximum of $970 should be spent by homeowners on all housing related costs. Renters have a median income of $23,703. This indicates that renters would have a maximum of $553 for their rent related monthly costs.

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	Tucumcari	National avg.	Difference
Haircut	$28.33	$24.26	16.8%
Beauty Salon	$49.67	$45.56	9.0%
Toothpaste	$3.63	$3.70	2.0%
Shampoo	$1.25	$1.28	2.6%
Movie	$10.19	$12.13	16.0%
Bowling	$16.11	$18.00	10.5%

Groceries

Item	Tucumcari	National avg.	Difference
Ground Beef	$5.84	$5.84	0.1%
Fried Chicken	$1.32	$1.57	16.1%
Milk	$4.51	$4.67	3.5%
Potatoes	$4.15	$4.93	15.9%
Pizza	$10.10	$12.09	16.4%
Beer	$9.99	$10.41	4.0%

Health Care

Item	Tucumcari	National avg.	Difference
Optometrist	$77.00	$125.68	38.7%
Doctor	$114.00	$135.78	16.0%
Dentist	$91.00	$113.29	19.7%
Ibuprofen	$10.21	$10.65	4.1%
Lipitor	$450.42	$468.60	3.9%

Housing

Item	Tucumcari	National avg.	Difference
Home Price	$47,100.00	$184,700.00	74.5%
Avg. Mortgage Payment	$1,449.46	$2,346.69	38.2%
Apartment Rent	$570.00	$949.00	39.9%

Transportation

Item	Tucumcari	National avg.	Difference
Gasoline	$3.19	$3.46	7.7%
Tire Balancing	$54.00	$59.92	9.9%

Utilities

Item	Tucumcari	National avg.	Difference
All Electricity	$173.26	$193.99	10.7%
Phone	$209.24	$192.25	8.8%

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.
Tucumcari, NM	4,872	76	24.3%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Childersburg, AL	4,872	86	14.4%
Hendron, KY	4,872	98	2.3%
Chittenango, NY	4,871	94	6.4%
Lawnton, PA	4,871	103	2.6%
Colorado City, AZ	4,873	102	2.0%
Tucumcari, NM	4,872	76	24.3%

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 Tucumcari, NM