South Valley, NM

Very Low · 65

New Mexico · Population 36,605 · Updated March 2026

$942
Median Rent / Month
$51,062
Median Income
$205,200
Median Home Value
$883
Owner Costs / Month

Affordability

How far your income goes in South Valley

22.1%
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

$11,304
Annual Rent
$3,013
State Income Tax
$1,375
Property Tax (est.)

Cost of Living Overview

South Valley is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 65 (where 100 equals the national median), South Valley residents can expect to pay median rent of $942/month while earning a median household income of $51,062/year.

The median home value in South Valley, NM is $205,200, with typical monthly owner costs around $883 including mortgage, insurance, and taxes. The median rent-to-income ratio of 22.1% 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 South Valley.

Frequently Asked Questions

Common questions about living costs in South Valley

What is the cost of living in South Valley, NM?
The cost of living index in South Valley, NM is 65 (US average = 100). Median monthly rent is $942, median household income is $51,062/year, and the median home value is $205,200.
Is South Valley, NM affordable?
Yes, South Valley is more affordable than the national average with a cost index of 65. The rent-to-income ratio is 22.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in South Valley, NM?
The median gross rent in South Valley, NM is $942 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $11,304.
What is the median household income in South Valley?
The median household income in South Valley, NM is $51,062 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%.