Gallup, NM

Very Low · 54

New Mexico · Population 21,333 · Updated March 2026

$858
Median Rent / Month
$57,466
Median Income
$134,600
Median Home Value
$816
Owner Costs / Month

Affordability

How far your income goes in Gallup

17.9%
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

$10,296
Annual Rent
$3,390
State Income Tax
$902
Property Tax (est.)

Cost of Living Overview

Gallup is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 54 (where 100 equals the national median), Gallup residents can expect to pay median rent of $858/month while earning a median household income of $57,466/year.

The median home value in Gallup, NM is $134,600, with typical monthly owner costs around $816 including mortgage, insurance, and taxes. The median rent-to-income ratio of 17.9% 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 Gallup.

Frequently Asked Questions

Common questions about living costs in Gallup

What is the cost of living in Gallup, NM?
The cost of living index in Gallup, NM is 54 (US average = 100). Median monthly rent is $858, median household income is $57,466/year, and the median home value is $134,600.
Is Gallup, NM affordable?
Yes, Gallup is more affordable than the national average with a cost index of 54. The rent-to-income ratio is 17.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Gallup, NM?
The median gross rent in Gallup, NM is $858 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $10,296.
What is the median household income in Gallup?
The median household income in Gallup, NM is $57,466 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%.