If you want a great retirement, why not move to the Land of Enchantment? New Mexico is a state with a lot going for it. First, it has a diverse environment, with rich forests in some areas and vast deserts in others. The same applies to its weather, where you can experience all four seasons. Because of this, it's created a unique culture that you can explore in your retirement. Another reason New Mexico is a great place to retire is that it can be affordable. See below as we break down all the living costs in New Mexico.
Overall, the cost of living is nearly 13 points below the national average. In every area, including average rent, New Mexico is cheaper. One of the most significant differences in the cost of housing, which is nearly 16 points below the national average. The median home cost is also over $100K less than the rest of the country. So if you're looking for a place where you can buy a cheap home, you're in luck. Of course, this depends on where you want to retire, but in most cases, you will be paying a lot less.
| COST OF LIVING | New Mexico | United States |
|---|---|---|
| Overall | 87.5 | 100 |
| Grocery | 94.6 | 100 |
| Housing | 84.4 | 100 |
| Median Home Cost | $171,400 | $291,700 |
| Utilities | 89.9 | 100 |
| Transportation | 98.5 | 100 |
| Miscellaneous | 91.9 | 100 |
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