Deming, NM

Very Low · 40

New Mexico · Population 14,735 · Updated March 2026

$596
Median Rent / Month
$35,920
Median Income
$112,800
Median Home Value
$578
Owner Costs / Month

Affordability

How far your income goes in Deming

19.9%
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

$7,152
Annual Rent
$2,119
State Income Tax
$756
Property Tax (est.)

Cost of Living Overview

Deming is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 40 (where 100 equals the national median), Deming residents can expect to pay median rent of $596/month while earning a median household income of $35,920/year.

The median home value in Deming, NM is $112,800, with typical monthly owner costs around $578 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.9% 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 Deming.

Frequently Asked Questions

Common questions about living costs in Deming

What is the cost of living in Deming, NM?
The cost of living index in Deming, NM is 40 (US average = 100). Median monthly rent is $596, median household income is $35,920/year, and the median home value is $112,800.
Is Deming, NM affordable?
Yes, Deming is more affordable than the national average with a cost index of 40. The rent-to-income ratio is 19.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Deming, NM?
The median gross rent in Deming, NM is $596 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $7,152.
What is the median household income in Deming?
The median household income in Deming, NM is $35,920 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%.