Chaparral, NM

Very Low · 48

New Mexico · Population 16,642 · Updated March 2026

$874
Median Rent / Month
$46,102
Median Income
$101,900
Median Home Value
$672
Owner Costs / Month

Affordability

How far your income goes in Chaparral

22.7%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in New Mexico

State-level tax rates that affect your costs

5.9%
Income Tax (Top Rate)
5.0%
Sales Tax
0.67%
Property Tax Rate

Estimated Annual Costs

$10,488
Annual Rent
$2,720
State Income Tax
$683
Property Tax (est.)

Cost of Living Overview

Chaparral is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 48 (where 100 equals the national median), Chaparral residents can expect to pay median rent of $874/month while earning a median household income of $46,102/year.

The median home value in Chaparral, NM is $101,900, with typical monthly owner costs around $672 including mortgage, insurance, and taxes. The median rent-to-income ratio of 22.7% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

New Mexico has a moderate income tax rate of 5.9%. Combined with a 5.0% sales tax rate and 0.67% effective property tax rate, the overall tax environment is a factor in the total cost of living in Chaparral.

Frequently Asked Questions

Common questions about living costs in Chaparral

What is the cost of living in Chaparral, NM?
The cost of living index in Chaparral, NM is 48 (US average = 100). Median monthly rent is $874, median household income is $46,102/year, and the median home value is $101,900.
Is Chaparral, NM affordable?
Yes, Chaparral is more affordable than the national average with a cost index of 48. The rent-to-income ratio is 22.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Chaparral, NM?
The median gross rent in Chaparral, NM is $874 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,488.
What is the median household income in Chaparral?
The median household income in Chaparral, NM is $46,102 per year. This compares to the national median of approximately $80,000.
What are the taxes like in New Mexico?
New Mexico has a top income tax rate of 5.9%, a sales tax of 5.0%, and an effective property tax rate of 0.67%.