Cost Of Living in Bosque Farms, 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	Bosque Farms	New Mexico	National
Cost of living	103	93	100
Goods & Services	100	97	100
Groceries	97	97	100
Health care	96	97	100
Housing	116	86	100
Transportation	93	95	100
Utilities	99	90	100

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Cost Of Living Quick Facts

The cost of living in Bosque Farms is 11% higher than the New Mexico average
The cost of living in Bosque Farms is 3% higher than the national average
Bosque Farms housing is 16% higher 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	$65,054	$5,421	$1,518	$1,952
Renters	$40,167	$3,347	$937	$1,205

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Bosque Farms, NM, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Bosque Farms homeowners, is $65,054. This would allow for a maximum of $1,518 per month to be spent on housing costs. For renters, the median monthly income is $40,167 which would result in a maximum of $937 to be spent on rental costs.

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	Bosque Farms	National avg.	Difference
Haircut	$31.90	$24.26	31.5%
Beauty Salon	$50.83	$45.56	11.6%
Toothpaste	$3.62	$3.70	2.3%
Shampoo	$1.15	$1.28	10.5%
Movie	$12.54	$12.13	3.3%
Bowling	$20.89	$18.00	16.1%

Groceries

Item	Bosque Farms	National avg.	Difference
Ground Beef	$5.11	$5.84	12.5%
Fried Chicken	$1.32	$1.57	16.1%
Milk	$4.63	$4.67	1.0%
Potatoes	$4.18	$4.93	15.3%
Pizza	$13.42	$12.09	11.0%
Beer	$11.07	$10.41	6.4%

Health Care

Item	Bosque Farms	National avg.	Difference
Optometrist	$136.89	$125.68	8.9%
Doctor	$134.17	$135.78	1.2%
Dentist	$111.42	$113.29	1.7%
Ibuprofen	$10.43	$10.65	2.1%
Lipitor	$380.06	$468.60	18.9%

Housing

Item	Bosque Farms	National avg.	Difference
Home Price	$223,500.00	$184,700.00	21.0%
Avg. Mortgage Payment	$1,905.97	$2,346.69	18.8%
Apartment Rent	$980.00	$949.00	3.3%

Transportation

Item	Bosque Farms	National avg.	Difference
Gasoline	$3.50	$3.46	1.1%
Tire Balancing	$43.87	$59.92	26.8%

Utilities

Item	Bosque Farms	National avg.	Difference
All Electricity	$191.24	$193.99	1.4%
Phone	$190.51	$192.25	0.9%

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.
Adelino, NM	1,110	98	2.1%
Chical, NM	205	98	2.1%
Pajarito Mesa, NM	310	76	24.3%
Isleta Village Proper, NM	489	83	17.2%
Meadow Lake, NM	4,266	83	16.6%
Bosque Farms, NM	3,833	103	3.3%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Rocky Ford, CO	3,833	85	15.1%
Shady Hollow, TX	3,833	137	37.5%
Catskill, NY	3,832	100	0.4%
Wintersville, OH	3,834	90	10.3%
Plain City, OH	3,831	99	0.5%
Bosque Farms, NM	3,833	103	3.3%

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 Bosque Farms, NM