What salary do you need to live in Santa Fe, NM?

Santa Fe housing costs at a glance

Census figures put the median gross rent in the Santa Fe, NM metro at $1,209 for a one-bedroom, $1,535 for a two-bedroom and $1,694 for a three-bedroom. Moving from one to two bedrooms adds $326 a month, and the third bedroom another $159.

On the ownership side, the typical owner-occupied home is valued at $446,300. Set against the $79,071 median household income, that is a ratio of 5.6×, which keeps the buying part of the score low for most incomes.

The Regional Price Parity, BEA's index of local prices with the US at 100, is 98.8 here. Below 100 means a paycheck stretches further: $100,000 in Santa Fe has the buying power of roughly $101,248 at national average prices.

Income needed for each grade in Santa Fe

For two bedrooms, $223,000 is where Santa Fe turns Comfortable. Below that, $111,000 marks the start of Okay and $55,000 the start of Tight; under $55,000 the score reads Stretched. Rent at the Comfortable line is 8% of gross pay.

The Royal grade is within reach at $634,000 a year, where both rent and the median home price look small next to income.

How they were found: the same scoring function the calculator runs was evaluated at rising incomes until each cutoff was crossed, and the crossing rounded up to a whole $1,000.

What different incomes look like in Santa Fe

At $75,000 home size barely changes the picture: one, two and three bedrooms all grade Tight, with scores from 32 to 38.

None of the four salaries reaches Comfortable for two bedrooms; even $150,000 scores 54, Okay, which fits the $223,000 line above.

Where Santa Fe falls nationally

Out of 387 metros, Santa Fe has the 99th highest price parity and the 66th highest two-bedroom rent, which puts it near the middle on overall prices and in the top quarter on rent.

Next to Santa Fe on the national rent ranking: Hartford-West Hartford-East Hartford, CT ($1,542) and Port St. Lucie, FL ($1,519).

Santa Fe vs. the rest of New Mexico

Statewide, New Mexico's median two-bedroom rent is $1,062 and its median home value $248,100. Santa Fe's rent is +45% against that, and its home value +80%; the price parity is 98.8 versus 92.2 for the state.

Scored the same way, the statewide figures turn Comfortable at $120,000, so Santa Fe needs $103,000 more than New Mexico overall.

Within New Mexico, the metros closest to Santa Fe on rent and overall prices are Albuquerque, NM, Farmington, NM, and Las Cruces, NM. Their Comfortable lines for two bedrooms sit at $148,000, $90,000, and $100,000.

The median Santa Fe household

What about a typical local household? Census puts median household income here at $79,071, which grades Tight (35) for a two-bedroom at the median rent. That falls $143,929 short of the $223,000 Comfortable line, a reminder that the typical household here spends a larger share on housing than the Comfortable band allows. For New Mexico as a whole, the median household income of $64,059 scores 47 against statewide rents. Since a household can have two or more earners, compare it with a combined income rather than one paycheck.

Estimates use pre-tax income and public data; they are not financial advice.