NM · Rank 14 of 50 affordable
Can teachers afford to live in New Mexico?
Yes — manageable.
The average New Mexico teacher earns $69,736 per year. A typical 2-bedroom rents for about $1,593/mo, which is 27% of gross monthly pay. The 30% rule is the standard healthy benchmark.
Avg Teacher Salary
$69,736
Cost-of-Living Index
93.7
US avg = 100
Affordability Score
59/100
Renting in New Mexico
2BR Rent / mo
$1,593
Annual Rent
$19,115
% of Salary
27%
Left after rent
$4,218/mo
Green zone is under the 30% healthy housing benchmark.
Buying a Home in New Mexico
Median Home Price
$393,540
10% Down
$39,354
P&I (7%, 30yr)
$2,356/mo
Full PITI
$2,832/mo
Estimated mortgage payment as a share of average teacher monthly gross pay, including taxes & insurance.
Estimates assume a 10% down payment, 7% 30-year fixed rate, 1.1% property tax, and 0.35% home insurance. Actual rates and prices vary by district and metro area.