Las Vegas, NM

Very Low · 49

New Mexico · Population 13,120 · Updated March 2026

$731
Median Rent / Month
$42,732
Median Income
$143,900
Median Home Value
$712
Owner Costs / Month

Affordability

How far your income goes in Las Vegas

20.5%
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

$8,772
Annual Rent
$2,521
State Income Tax
$964
Property Tax (est.)

Cost of Living Overview

Las Vegas is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 49 (where 100 equals the national median), Las Vegas residents can expect to pay median rent of $731/month while earning a median household income of $42,732/year.

The median home value in Las Vegas, NM is $143,900, with typical monthly owner costs around $712 including mortgage, insurance, and taxes. The median rent-to-income ratio of 20.5% 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 Las Vegas.

Frequently Asked Questions

Common questions about living costs in Las Vegas

What is the cost of living in Las Vegas, NM?
The cost of living index in Las Vegas, NM is 49 (US average = 100). Median monthly rent is $731, median household income is $42,732/year, and the median home value is $143,900.
Is Las Vegas, NM affordable?
Yes, Las Vegas is more affordable than the national average with a cost index of 49. The rent-to-income ratio is 20.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Las Vegas, NM?
The median gross rent in Las Vegas, NM is $731 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $8,772.
What is the median household income in Las Vegas?
The median household income in Las Vegas, NM is $42,732 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%.