Counties with the lowest cost of living in New Mexico
Counties with the lowest cost of living in New Mexico
While inflation has fallen from 2022 peaks, high prices are still eating into household budgets. Many Americans are paying keen attention to their finances and finding ways to reduce spending.
Home prices, rent, and food inflation, as well as higher prices for gas in the last couple of years, are making it so that each dollar earned has even less purchasing power than before. In the first two months of 2024, Americans were able to save about 3.9% of their disposable income, according to the Bureau of Economic Analysis, well below historic levels.
Stacker compiled a list of counties with the lowest cost of living in New Mexico using rankings from Niche.
#3. Luna County, New Mexico
- Overall Rank: 2,088
- Population: 25,393
- Median household income: $38,241
- Median home value: $100,900 (67% own)
- Median rent: $572 (33% rent)
#2. Cibola County, New Mexico
- Overall Rank: 2,016
- Population: 27,211
- Median household income: $49,866
- Median home value: $101,900 (71% own)
- Median rent: $753 (29% rent)
#1. Quay County, New Mexico
- Overall Rank: 2,000
- Population: 8,641
- Median household income: $38,998
- Median home value: $76,800 (68% own)
- Median rent: $710 (32% rent)
This story features data reporting and writing by Elena Cox and is part of a series utilizing data automation across 32 states.
