Cost of Living in Santa Fe, NM
Updated November 2026 · Santa Fe County · Santa Fe, NM metro area · population 89,019
Prices in Santa Fe are 0.5% below the US average (local index 99.5; the BEA index for the Santa Fe, NM metro area is 98.8), with utilities the biggest saving at 76.7; a single adult's modelled budget is about $2,678 a month and the median rent is $1,463.
Prices by category
CostLiving local estimate. 100 = US average; 110 means prices are 10% higher. Housing reflects Santa Fe's own median rent compared with the area's average rent; goods, utilities and other services are BEA's official price parities for the Santa Fe, NM metro area, unchanged.
Santa Fe price index by category, US average = 100: All items 99.5, Housing (rents) 108.6, Goods 96.1, Utilities 76.7, Other services 98.5
Cheaper than 62% of the cities we cover.
| BEA index | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| All items | 96.9 | 96.6 | 93.2 | 94.9 | 94.1 | 98.8 |
Monthly budget by household type
1 adult · 1-bedroom · modelled estimate for Santa Fe, NM
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $1,101 | $13,212 | 41% |
| Utilities | $190 | $2,280 | 7% |
| Food at home | $271 | $3,252 | 10% |
| Transportation | $608 | $7,296 | 23% |
| Health care | $346 | $4,152 | 13% |
| Clothing, personal care & supplies | $162 | $1,944 | 6% |
| Total | $2,678 | $32,136 | 100% |
2 adults · 2-bedroom · modelled estimate for Santa Fe, NM
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $1,473 | $17,676 | 33% |
| Utilities | $304 | $3,648 | 7% |
| Food at home | $501 | $6,012 | 11% |
| Transportation | $1,205 | $14,460 | 27% |
| Health care | $642 | $7,704 | 14% |
| Clothing, personal care & supplies | $319 | $3,828 | 7% |
| Total | $4,444 | $53,328 | 100% |
2 adults + 2 children · 3-bedroom · modelled estimate for Santa Fe, NM
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $1,643 | $19,716 | 31% |
| Utilities | $369 | $4,428 | 7% |
| Food at home | $714 | $8,568 | 13% |
| Transportation | $1,599 | $19,188 | 30% |
| Health care | $598 | $7,176 | 11% |
| Clothing, personal care & supplies | $411 | $4,932 | 8% |
| Total | $5,334 | $64,008 | 100% |
Modelled estimate of basic costs, excluding taxes, child care and savings. Housing is rent excluding tenant-paid utilities (counted under utilities). See how the budget is calculated.
Housing costs in Santa Fe
Rent by number of bedrooms
| Size | Median rent |
|---|---|
| Studio | $992 |
| 1 bedroom | $1,231 |
| 2 bedrooms | $1,647 |
| 3 bedrooms | $1,838 |
| 4 bedrooms | $2,026 modelled from city median rent |
Median rent: Census ACS 2020-2024 median gross rent by bedrooms (rent plus tenant-paid utilities, all renters).
Rent, home values and affordability
| Measure | Value |
|---|---|
| Median gross rent | $1,463 |
| Median contract rent (excl. utilities) | $1,308 |
| Median home value | $444,900 |
| Owner costs with a mortgage | $1,847/mo |
| Median household income | $73,482 |
| Rent as % of renter income Expensive | 31.3% |
| Home value ÷ household income Expensive | 6.1× |
Census ACS 5-year 2020-2024.
Electricity and gas prices
Residential electricity in New Mexico
16.51¢ per kWh, August 2026
12-month change: +3.4% (from 15.97¢) · US 18.16¢
Average household uses 653 kWh a month in New Mexico ≈ $100/month. Source: EIA-861M (statewide average).
Regular gasoline regional figure: Gulf Coast (PADD 3)
$3.64 per gallon, week of 2026-11-02
12-month change: +44.8% (from $2.51) · US $4.15
EIA weekly retail price survey; New Mexico is covered by the Gulf Coast (PADD 3) average.
Inflation in the West
Consumer prices in the West Census region rose +3.4% in the 12 months to September 2026 (US +3.7%). Nationally, food at home changed +1.8%, shelter +3.2% and energy +20.4%. Source: BLS CPI-U, not seasonally adjusted. CPI is published for regions and large metro areas, so the regional figure is shown.
Salary equivalent
Because prices in Santa Fe are 0.5% below the US average, $60,000 here has the buying power of about $60,300 in an average-priced US area.
Formula: US-equivalent = salary × 100 ÷ 99.5. Based on the local cost index (CostLiving estimate from BEA RPP and Census rents); taxes not included.
Nearby cities
| City | Distance | Index | Budget (single) | Median rent |
|---|---|---|---|---|
| Rio Rancho, NM | 48 mi | 100.5 | $2,560 | $1,514 |
| Albuquerque, NM | 54 mi | 95.4 | $2,385 | $1,145 |
Cities with a similar cost of living
| City | Index | Budget (single) | Median rent |
|---|---|---|---|
| Casa Grande, AZ | 99.5 | $2,412 | $1,386 |
| Allentown, PA | 99.5 | $2,691 | $1,317 |
| Melbourne, FL | 99.5 | $2,820 | $1,525 |
| Whitefish, MT | 99.4 | $2,614 | $1,354 |
| Kyle, TX | 99.6 | $2,894 | $1,752 |
| Summerville, SC | 99.4 | $2,693 | $1,526 |
Compare Santa Fe with another city
Frequently asked questions
Is Santa Fe, NM an expensive place to live?
Santa Fe has a local cost of living index of 99.5, which is 0.5% below the US average. This CostLiving estimate starts from the BEA Regional Price Parities 2024 for the Santa Fe, NM metro area (98.8) and adjusts housing to Santa Fe's own rents. It is 7.3 points above the New Mexico average. Cheaper than 62% of the cities we cover.
How much money do you need to live in Santa Fe?
Our modelled estimate of basic monthly costs is $2,678 for a single adult, $4,444 for a couple and $5,334 for a family of four, before taxes, child care and savings. A $60,000 salary in an average-priced US area buys about the same as $59,700 in Santa Fe.
What is the average rent in Santa Fe?
The median gross rent (rent plus tenant-paid utilities) is $1,463 a month (Census ACS 2020-2024). By size: 1 bedroom $1,231, 2 bedrooms $1,647, 3 bedrooms $1,838. The typical renter spends 31.3% of household income on rent (expensive).
How much does a house cost in Santa Fe?
The median owner-estimated home value is $444,900, 6.1 times the median household income of $73,482 (expensive). Owners with a mortgage pay a median $1,847 a month in housing costs.
How much is electricity and gas in Santa Fe?
New Mexico residential electricity averaged 16.51¢ per kWh in August 2026 (US 18.16¢). Regular gasoline was $3.64 a gallon (Gulf Coast (PADD 3) average, week of 2026-11-02).
Sources and notes
- Local cost index: CostLiving estimate from BEA Regional Price Parities 2024 for the Santa Fe, NM metropolitan statistical area (BEA index 98.8) with housing from Census ACS median rent (city figure); see the methodology.
- Rents, home values, income, population: U.S. Census Bureau ACS 5-year 2020-2024, Census place 3570500 (Santa Fe city).
- Electricity: EIA-861M, New Mexico residential average, August 2026.
- Gasoline: EIA weekly retail regular gasoline, Gulf Coast (PADD 3), week of 2026-11-02.
- Inflation: BLS CPI-U West region, September 2026.
- Budget baselines: BLS Consumer Expenditure Survey 2025; electricity use by household size: EIA RECS 2020.
- Gasoline price: regional figure (EIA publishes weekly prices for only 9 states).
Labels such as “county figure” or “state nonmetro figure” mark values that come from a larger area because the city-level figure is unavailable or unreliable. The monthly budget is a modelled estimate, not observed spending, and excludes taxes. This page is for general information and is not financial advice. Methodology · All sources