B+
0%
Overall NAT. AVG.
0%
Goods & Services NAT. AVG.
5%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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 North Valley New Mexico National
Cost of living10093100
Goods & Services10097100
Groceries9797100
Health care9697100
Housing10586100
Transportation9395100
Utilities9990100

An Overview of Cost of Living in North Valley, NM

Understanding the cost of living in North Valley can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The North Valley cost of living index is 100, which is 0% equal to the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

The cost of living in North Valley is about average when compared to all other cities across the nation. You can expect that everyday items like food, goods and services and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.

Is North Valley Affordable?

Is North Valley an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in North Valley, the median home price is 15.6% higher than what most folks pay across the country, and monthly rent prices are 21.1% lower than the usual rates. Income levels in North Valley come in at $52,654, which is 4.8% lower than the national average.

What Factors can Influence the Cost of Living in North Valley?

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in North Valley comes in at 1.1% lower than the national average.

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In North Valley, the prevailing sales tax rate starts at 5%, and income tax rates kick off at 1.7%.

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In North Valley, healthcare costs are 4.3% lower than the national average.

Where is the Data From?

The North Valley cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in North Valley is 8% higher than the New Mexico average
  • The cost of living in North Valley is equal to the national average
  • North Valley housing is 5% 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

Most Affordable Places to Live in and Around North Valley

See all the best places to live around North Valley

Compare North Valley, NM Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      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$54,090$4,508$1,262$1,623
      Renters$43,289$3,607$1,010$1,299
      A good way to judge both the affordability of the housing and the cost of living in North Valley is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. North Valley has a median income of about $54,090 for people who own homes. Based on that number, a maximum of $1,262 should be spent on expenses related to housing. Renters have a slightly different median income, which is $43,289. Based on this average, renters should spend no more than $1,010 on all rental costs if they want to maintain a non-impoverished standard of living.

      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 North Valley National avg. Difference
      Haircut $31.90$24.2631.5%
      Beauty Salon $50.83$45.5611.6%
      Toothpaste $3.62$3.702.3%
      Shampoo $1.15$1.2810.5%
      Movie $12.54$12.133.3%
      Bowling $20.89$18.0016.1%

      Groceries

      Item North Valley National avg. Difference
      Ground Beef $5.11$5.8412.5%
      Fried Chicken $1.32$1.5716.1%
      Milk $4.63$4.671.0%
      Potatoes $4.18$4.9315.3%
      Pizza $13.42$12.0911.0%
      Beer $11.07$10.416.4%

      Health Care

      Item North Valley National avg. Difference
      Optometrist $136.89$125.688.9%
      Doctor $134.17$135.781.2%
      Dentist $111.42$113.291.7%
      Ibuprofen $10.43$10.652.1%
      Lipitor $380.06$468.6018.9%

      Housing

      Item North Valley National avg. Difference
      Home Price $213,500.00$184,700.0015.6%
      Avg. Mortgage Payment $1,905.97$2,346.6918.8%
      Apartment Rent $749.00$949.0021.1%

      Transportation

      Item North Valley National avg. Difference
      Gasoline $3.50$3.461.1%
      Tire Balancing $43.87$59.9226.8%

      Utilities

      Item North Valley National avg. Difference
      All Electricity $191.24$193.991.4%
      Phone $190.51$192.250.9%
      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.
      Pajarito Mesa, NM3107624.3%
      Placitas CDP (Doña Ana County), NM7257921.1%
      Monterey Park, NM1,0978614.2%
      Santa Ana Pueblo, NM944909.8%
      Indian Hills, NM810928.2%
      North Valley, NM13,3311000.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Santa Fe, TX13,326990.5%
      Montgomeryville, PA13,31912727.2%
      Yulee, FL13,3461011.1%
      Powell, OH13,35312626.4%
      Palos Verdes Estates, CA13,359327227.5%
      North Valley, NM13,3311000.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.