Cost of Living in Santa Fe, NM [2025]

Santa Fe, otherwise known as the “Land of Enchantment,” is one of the best small cities in the country. As the fourth-largest city in the state of New Mexico, and one of the most beloved tourist destinations in the nation, it attracts people from within and outside of the state.

The great food, scenery, sunshine, and unbeatable sunsets are just a few reasons folks pack up and move here. Known for its natural beauty and high-profile celebrity residents, Santa Fe offers a tranquil pace of life with all the conveniences of a city. Despite the more small-town feel of Santa Fe, you can still access countless entertainment options, museums, shopping plazas and wordl-class restaurants.

Whether you’re looking to move to Santa Fe to take advantage of the relatively low cost of living, access to the great outdoors, or some combination of the two, you need an idea of your costs.

Let’s look at the cost of living in Santa Fe to understand better how much you need to live there.

Cost of Living in Santa Fe

What Is the Cost of Living in Santa Fe?

According to Best Places, the cost of living in Santa Fe is about 12% higher than the national avergage. Let's take a look at how that breaks down by category, and what salary you need to live in the city.

What Salary Do You Need to Live in Santa Fe?

To comfortably afford an apartment in Santa Fe, use the 30% rule for rent. That means at a rate of $1,561, you'll need to earn around $70,000 to live in Santa Fe.

The average salary index in Santa Fe is $60,000 per year, roughly $20.01 per hour or $62,000 per year. However, according to the U.S. Census Bureau, the median household income in Santa Fe is $61,990.

Remember that the living wage, average salary, and recommended salary for any city, including Santa Fe, are three very different things. You’ll need to anticipate needs regarding additional living costs, including dining, entertainment, etc. You might find that you’ll need to search for a higher salary, a less expensive apartment, or both in a perfect world.

Thankfully, the typical annual salaries for common professions in Santa Fe are highly competitive. For example, the three highest typical annual salaries belong to Management, Legal, and Healthcare Practitioners & Technical positions, respectively. Currently, the unemployment rate is 3.5%, which is slightly lower than the national rate of 3.6%

How Much Is Rent in Santa Fe?

According to our rent report, the overall median rent in Santa Fe is $1,561. One-bedrooms cost around $1,303, while two-bedrooms are closer than $1,632.

How Much Are Housing Costs in Santa Fe?

Similarly, the Santa Fe housing market has seen steady, significant growth, with median home prices currently at $470,000. However, compared to competing areas like Albuquerque with a median home price of $257,400, Santa Fe's are higher.

How Much Are Utilities in Santa Fe?

Santa Fe’s altitude is nearly 7,000 ft., which keeps temperatures relatively moderate. That being said, you’ll still experience four distinct seasons when living here. Summers are hot, filled with dramatic thunderstorms. Winters are cold and bring with them the occasional snowstorm.

We can get an idea of how much utilties are in Santa Fe by looking at its nearby neighbor, Albuquerque. For a 915 square foot apartment, residents in Albuquerque pay on average $363.54 per month for utilities. That includes water, electricity, fuel, and and gas. It's also quite a bit higher than the national average of $253.14.

Adding on the Internet with 60 Mbps or more with unlimited data, cable/ADSL will cost you an extra $67.86.

Before you move, determine how much utilities will cost in an apartment to better understand what to expect and how to budget accordingly.

How Much Is Transportation in Santa Fe?

Santa Fe’s official public transportation operator is the Santa Fe Trails Bus Service. The bus is highly reliable, offering ten routes throughout the city. The schedule and map can be viewed online. The Santa Fe Trails Bus Rates are $1 for a one-way fare, $2 for a day pass, $5 for a three-day pass, and $7 for a five-day pass.

Still, you might opt for a vehicle of your own to take advantage of all Santa Fe offers. If you're a single adult without children, you'll spend about $10,303 for transportation in Santa Fe every year. A family of four, including two working adults and two children, will pay $17,282 for transportation annually.

You’ll also want to take into account gasoline prices. In Santa Fe, you can expect to pay around $3.16 per gallon, significantly lower than the national average of $3.87.

How Much Are Food Costs in Santa Fe?

Santa Fe offers countless dining options, with a handful of authentic Native American foods, like sopaipillas. Other local foods include breakfast burritos, Frito pies, and green chile burgers.

Eating at an inexpensive restaurant in Santa Fe costs an average of $20 for a meal, while a three-course dinner for two people at a mid-range restaurant will run $85 without alcohol or dessert.

If you're a single adult without children, you can expect to pay at least $4,686 on food per year. However, a family of four with two working adults and two children should expect to pay $13,802 per year for food.

You can anticipate paying below the national average for food items from local grocery stores like Allsups, Kaune’s Neighborhood Market, or Albertsons Market. For example, one gallon of regular milk costs $3.71 in the grocery store, with the national average being $4.21.

How Much Are Healthcare Costs in Santa Fe?

When planning your budget in Santa Fe, it’s essential to account for proper medical care. A single adult without children will pay around $3,282 for medical care over the year, while two working adults with two children should expect to pay $1,890 per month per child.

Childcare for a two-child family will cost an additional $12,582 per year.

Santa Fe Fitness and Entertainment

With Santa Fe’s drastic climate change throughout the year, you might want to consider fitness club membership costs to keep fit. The monthly fee for a fitness club membership for one adult is $73.33.

Otherwise, you can enjoy the beautiful Santa Fe landscape when the weather permits. Some favorite outdoor activities include hitting the San Antonio Hot Springs, paddling out at Lake Abiquiu or Lake Katherine, and hiking Dale Ball Trails or Ski Basin.

There is plenty of indoor entertainment throughout the city. For example, if you enjoy the local cinema, it will cost you $12.00 without snacks or drinks. Or, you can save some cash and check out the Museum of Indian Arts and Culture, the Georgia O’Keeffe Museum, or the International Folk Art Museum.

Other Expenses to Consider in Santa Fe

New Mexico has a progressive tax rate that ranks among the lowest 20 in the U.S. Rather than residents paying a sales tax. They are responsible for paying a gross receipts tax often passed down by businesses.

Anyone moving out of state to Santa Fe will also need to consider costs associated with cross-country movers, storage, hotels, and transportation. Often accompanying these moves include apartment application fees, security deposits, pet deposits, and other add-ons.

Lastly, you can’t forget about furnishing your new home. You can check out some tips and tricks on decorating your apartment on a budget to help you save some cash during your big move.

Looking for an Apartment in Santa Fe?

If you are interested in moving to Santa Fe, a melting pot of cultural influences and rich history, you’ll need to find which Santa Fe neighborhood is best for you and learn how to apartment hunt. Then, register with Apartment List today and start checking out the available apartments to rent in Santa Fe!