Cost Of Living in Bayard, NM

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Bayard	New Mexico	National
Cost of living	81	93	100
Goods & Services	94	97	100
Groceries	96	97	100
Health care	98	97	100
Housing	52	86	100
Transportation	96	95	100
Utilities	81	90	100

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Cost Of Living Quick Facts

The cost of living in Bayard is 13% lower than the New Mexico average
The cost of living in Bayard is 19% lower than the national average
Bayard housing is 48% lower than the national average
New Mexico general sales tax is 2% lower than the national average
New Mexico state income tax is 35% lower than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$38,203	$3,184	$891	$1,146
Renters	$77,792	$6,483	$1,815	$2,334

New Mexico Sales Tax

State	General Sales Tax	With Max Surtax
New Mexico	5%	8.688%

New Mexico Income Tax

State	Income Tax (Low)	Income Tax (High)
New Mexico	1.7%	5.9%

Goods & Services

Item	Bayard	National avg.	Difference
Haircut	$24.56	$24.26	1.2%
Beauty Salon	$46.00	$45.56	1.0%
Toothpaste	$3.67	$3.70	0.8%
Shampoo	$1.09	$1.28	15.2%
Movie	$13.00	$12.13	7.1%
Bowling	$14.33	$18.00	20.4%

Groceries

Item	Bayard	National avg.	Difference
Ground Beef	$5.69	$5.84	2.6%
Fried Chicken	$1.32	$1.57	16.1%
Milk	$4.53	$4.67	3.0%
Potatoes	$4.15	$4.93	15.8%
Pizza	$12.38	$12.09	2.4%
Beer	$10.68	$10.41	2.5%

Health Care

Item	Bayard	National avg.	Difference
Optometrist	$150.67	$125.68	19.9%
Doctor	$140.33	$135.78	3.4%
Dentist	$113.72	$113.29	0.4%
Ibuprofen	$10.29	$10.65	3.4%
Lipitor	$517.39	$468.60	10.4%

Housing

Item	Bayard	National avg.	Difference
Home Price	$88,800.00	$184,700.00	51.9%
Avg. Mortgage Payment	$2,303.17	$2,346.69	1.9%
Apartment Rent	$576.00	$949.00	39.3%

Transportation

Item	Bayard	National avg.	Difference
Gasoline	$3.35	$3.46	3.3%
Tire Balancing	$53.65	$59.92	10.5%

Utilities

Item	Bayard	National avg.	Difference
All Electricity	$192.00	$193.99	1.0%
Phone	$189.63	$192.25	1.4%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
San Lorenzo, NM	149	93	7.0%
Cobre, NM	27	93	7.0%
North Hurley, NM	159	77	23.4%
Hanover, NM	155	80	19.6%
Santa Clara, NM	1,708	81	19.1%
Bayard, NM	2,415	81	19.3%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Herald Harbor, MD	2,414	142	42.3%
Excelsior, MN	2,414	164	64.3%
Richwood, OH	2,414	86	13.6%
Wright-Patterson AFB, OH	2,414	110	10.0%
Rockdale, IL	2,416	96	3.8%
Bayard, NM	2,415	81	19.3%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Bayard, NM