Key Economic Benchmarks
Median Household Income
$73,482$6,124 per month · U.S. Census Bureau ACS 5-YearFair market rent & 30% rule in Santa Fe, NM
Official HUD Fair Market Rents evaluated against local household income benchmarks.
2026 HUD Fair Market Rent Schedule: Santa Fe, NM
Official FY2026 HUD Fair Market Rents for Santa Fe, NM MSA. Under the federal 30% housing affordability standard, housing costs are sustainable when they consume 30% or less of gross household income.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $1,259 | $15,108 | $50,360 | 20.6% |
| 1-Bedroom Apartment | $1,390 | $16,680 | $55,600 | 22.7% |
| 2-Bedroom ApartmentBenchmark | $1,685 | $20,220 | $67,400 | 27.5% |
| 3-Bedroom Home | $2,122 | $25,464 | $84,880 | 34.7% |
| 4-Bedroom Home | $2,231 | $26,772 | $89,240 | 36.4% |
50/30/20 Living Budget in Santa Fe, NM
Based on the local median household income of $73,482/year ($6,124/month), here is how a balanced budget allocates expenses:
Take-Home Pay & Tax Explorer in New Mexico
Explore net income after federal income tax, FICA, and New Mexico state income tax based on the local median baseline.
Related Regional & Financial Profiles
Compare earnings and living costs across New Mexico with official federal datasets:
Frequently Asked Questions About Living in Santa Fe, NM
What is the median household income in Santa Fe, NM?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Santa Fe, NM is $73,482 per year (approximately $6,124 per month).
What is the average rent in Santa Fe, NM?
According to HUD Fair Market Rent (FMR) benchmarks for 2026, standard monthly rents in Santa Fe, NM are $1,259 for a studio, $1,390 for 1 bedroom, $1,685 for 2 bedrooms, $2,122 for 3 bedrooms, and $2,231 for 4 bedrooms.
How does the cost of living in Santa Fe, NM compare to the national average?
Based on the Bureau of Economic Analysis (BEA) Regional Price Parity index, the general price level in Santa Fe, NM is 98.8 (1.2% lower than the U.S. national baseline of 100.0).
How much do you need to earn to comfortably afford rent in Santa Fe, NM?
Under the standard 30% housing affordability standard, renting a median 2-bedroom home ($1,685/month) in Santa Fe, NM requires a minimum gross household income of $67,400 per year ($5,617 per month).
What is a balanced 50/30/20 monthly budget in Santa Fe, NM?
For a typical household earning the median income of $73,482/year ($6,124/month) in Santa Fe, NM, a balanced 50/30/20 budget allocates $3,062/month to essential needs (rent, utilities, groceries), $1,837/month to discretionary spending, and $1,225/month to savings and debt repayment.
What are typical electricity and utility costs in Santa Fe, NM?
Residential electricity rates in New Mexico average 15.1¢ per kWh according to the U.S. Energy Information Administration (EIA). For an average home using 900 kWh per month, the estimated electric bill is approximately $136 per month.