New Mexico Cost of Living Below the National Average

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When you are considering a new place to live, one of the biggest considerations will be the cost of living. A low cost of living can help you live a more comfortable lifestyle, while a high cost of living can make even basic monthly expenses hard to meet. The New Mexico cost of living is well below the national average, making it an attractive place for families and businesses alike. The Brooks Companies offers ranch land in New Mexico at affordable prices to allow you to live the lifestyle you've always dreamed of.

Home Prices

The cost of owning or renting a home is often one of the largest expenses you have each month. Finding a place to live that offers comfortable housing at affordable prices can help you have more discretionary income to work with. The New Mexico cost of living is lower on average than most places in the U.S. because its housing costs are lower-about 5% lower than the national average.

Taxes

Taxes in the state of New Mexico are also low, which means more money stays in your pocket. The state income tax is capped at 4.9%, and real estate and property taxes are also very low, especially when compared with neighboring states like Arizona. This makes New Mexico a better choice for families, retirees, or anyone looking for a warm southwest climate without the high cost of living in some other states in the region.

Other Expenses

Additional monthly costs, such as food and utilities, also rank below the national average by between 1-4%, making the overall New Mexico cost of living almost 4% lower than the national cost of living, on average.

This combination of tax-friendly policies, low home prices, and low overall costs makes New Mexico a great place to live. Contact The Brooks Companies today at 877-468-9802 for more information about our New Mexico ranch land for sale or the cost of living in New Mexico.