Cost of Living in Santa Fe, New Mexico in 2025

Santa Fe, New Mexico Cost of Living: Quick Takeaways

• Housing Costs: Rent for a one-bedroom apartment has increased from $900 in 2010 to $1,400 in 2025, while median home prices rose to $490,000.
• Transportation Expenses: Public transit fares are affordable at $1.50 per ride and monthly passes cost $50; fuel is $3.50 per gallon.
• Healthcare Costs: Monthly employer-sponsored health insurance costs about $150, with Silver plan premiums near $500.
• Income Levels: Median household income is estimated at $72,000 in 2025, showing steady growth since 2010.

Santa Fe offers a unique blend of culture and scenery, but understanding the cost of living here is essential for budgeting effectively.

This article breaks down key expenses including housing, utilities, transportation, healthcare and more for 2025.

1. Housing Costs in Santa Fe, New Mexico

Housing is a major factor in overall expenses. The following shows the rent prices for a one-bedroom apartment over the years:

• 2010: $900
• 2015: $1,050
• 2020: $1,200
• 2024: $1,380
• 2025: $1,400

Rent prices have exhibited a steady upward trend reflecting rising demand and cost pressures.

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2. Homeownership and Real Estate Trends in Santa Fe, New Mexico

Homebuyers have seen consistent increases in median home prices as the market appreciates:

• 2010: $250,000
• 2015: $300,000
• 2020: $400,000
• 2024: $470,000
• 2025: $490,000

These rising prices highlight Santa Fe’s attractive real estate landscape but also its affordability challenges.

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3. Transportation Expenses in Santa Fe, New Mexico

Santa Fe offers cost-effective transportation options:

• Public Transit: $1.50 per one-way trip; monthly passes are $50.
• Fuel: Gasoline costs approximately $3.50 per gallon.
• Vehicle Maintenance: Annual upkeep averages $1,200.

Commute and travel costs may vary by lifestyle and personal vehicle use.

4. Utility Costs in Santa Fe, New Mexico

Typical monthly utility costs for a standard household include:

• Electricity: $100
• Internet: $67
• Total Utilities: $167

Individual consumption habits and service providers influence these expenses.

5. Grocery and Food Expenses in Santa Fe, New Mexico

Food costs in Santa Fe are moderate compared to national averages.

Monthly grocery expenses per person are estimated at $225. Dining out varies from $18 at casual venues to $60 at mid-range restaurants.

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6. Healthcare Costs in Santa Fe, New Mexico

Healthcare includes premiums and out-of-pocket expenses:

Monthly employer-sponsored insurance costs approximately $150, while silver plan premiums average $500 monthly.

7. Educational Expenses in Santa Fe, New Mexico

Education-related expenses include:

• Public Schools: No tuition costs.
• Private Schools: Average tuition is $10,000 per year.
• In-state University Tuition: Approximately $7,000 annually.

Costs vary by institution and program.

8. Entertainment and Leisure in Santa Fe, New Mexico

Residents spend on various leisure activities including:

• Movie Tickets: $12 each.
• Gym Memberships: $40 monthly.
• Mid-range Restaurant Meals: $60 per meal.

Annual entertainment expenses average around $2,000.

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9. Taxes and Miscellaneous Fees in Santa Fe, New Mexico

Tax information is important for budgeting:

• State Income Tax: Ranges from 1.7% to 5.9%.
• Sales Tax: Total sales tax rate is 8.44%.
• Property Tax: Average effective rate is 0.55%.

These taxes affect residents’ disposable income and costs.

10. Childcare and Family Expenses in Santa Fe, New Mexico

For families, childcare costs include:

• Daycare: Around $800 monthly.
• After-school Care: Approximately $300 monthly.
• Extracurricular Activities: $100 monthly.

Planning for these is essential for family budgeting.

11. Clothing and Personal Care in Santa Fe, New Mexico

Individuals spend on personal needs as follows:

• Clothing: About $100 monthly.
• Personal Care: Approximately $50 monthly.

These expenditures may vary with lifestyle preferences.

12. Insurance Costs in Santa Fe, New Mexico

Insurance premiums contribute significantly:

• Health Insurance: About $500 monthly for typical coverage.
• Auto Insurance: Average annual premium is $1,200.
• Homeowners Insurance: Typically $1,000 annually.
• Renters Insurance: Around $200 annually.

Proper insurance is vital for financial security and compliance.

13. Miscellaneous Expenses in Santa Fe, New Mexico

Additional costs include:

• Entertainment: About $2,000 annually.
• Personal Care Services: $600 annually.
• Miscellaneous Goods and Services: Approximately $500 annually.

These contribute to overall lifestyle expenditures.

14. Income and Salaries in Santa Fe, New Mexico

Median household income trends show steady growth:

• 2010: $50,000
• 2015: $55,000
• 2020: $60,000
• 2023: $70,110
• 2025: $72,000

Increased income helps offset rising living costs.

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15. Comparison with National Averages for Santa Fe, New Mexico

Relative to the national average, Santa Fe shows:

• Overall Cost of Living: 12% above national average.
• Housing: 60% higher than average.
• Utilities: 6% lower.
• Food: 4% lower.
• Healthcare: 8% lower.
• Transportation: 7% lower.
• Goods and Services: 5% lower.

These comparisons illustrate specific challenges and advantages in Santa Fe's cost of living.

Our Methodology for Santa Fe, New Mexico Cost of Living Figures

We compile data from reliable sources like Numbeo, BLS, Zillow, and government reports to present the most accurate figures. Where exact data is unavailable, careful estimates are made to provide a comprehensive picture.

Santa Fe, New Mexico Cost of Living: Conclusion

Santa Fe’s living costs are shaped by high housing prices but balanced by comparatively lower expenses in healthcare, transportation and utilities.

Understanding these factors is key for residents and newcomers to budget effectively and enjoy what this distinctive city has to offer.

By assessing the detailed breakdown presented, individuals can make informed decisions about living comfortably in Santa Fe in 2025.

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