Silver City, NM Cost Of Living
Cost Of Living In Silver City, NM Summary
Cost of living in Silver City research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Silver City is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in New Mexico, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Silver City is 84, with 100 being the average.
The cost of living index in Silver City is 0.8x lower than the national average.
Silver City ranks as the #10 cheapest in New Mexico out of 44.
Silver City ranks as the #629 cheapest out of 6,412 in the US.
The median home value in Silver City is $139,600.
The median income in Silver City is $31,451.
Table Of Contents
Silver City's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Silver City, NM?
According to the most recent data on the cost of living, Silver City has an overall cost of living index of 84, which is 0.8x lower than the national index of 100.
Compared to New Mexico, Silver City has a cost of living index that's 0.9x lower than New Mexico's index of 94.
The standard of living in Silver City ranks as #10 most affordable out of the 44 places we measured in New Mexico. By definition, that implies Silver City ranks as the #34 most expensive place in the Land of Enchantment.
For more reading on life in Silver City, check out:
- Living In Silver City
- Search Homes For Sale In Silver City, NM
In New Mexico
In America
Silver City Cost Of Living Vs. New Mexico
Six factors go into calculating the cost of living index in Silver City. Here is how it fairs on each of the criteria:
The Services index in Silver City is 92.
The Groceries index in Silver City is 93.
The Health index in Silver City is 100.
The Housing index in Silver City is 73.
The Transportation index in Silver City is 97.
The Utilities index in Silver City is 84.
| Living Expense | Silver City | New Mexico | National Average | |
|---|---|---|---|---|
| Overall | 84 | 94 | 100 | |
| Services | 92 | 97 | 100 | |
| Groceries | 93 | 96 | 100 | |
| Health | 100 | 100 | 100 | |
| Housing | 73 | 88 | 100 | |
| Transportation | 97 | 96 | 100 | |
| Utilities | 84 | 91 | 100 | |
Silver City, NM Housing Cost Breakdown
Housing swings affordability the most between places in New Mexico, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Silver City is $139,600.
The Median Rent in Silver City is $732.
The Median Income in Silver City is $31,451.
The Home Value To Income in Silver City is 4.4x.
The Rent To Monthly Income in Silver City is 0.28x.
| Statistic | Silver City | New Mexico | United States |
|---|---|---|---|
| Median Home Value | $139,600 | $184,800 | $244,900 |
| Median Rent | $732 | $897 | $1,163 |
| Median Income | $31,451 | $54,020 | $69,021 |
| Home Value To Income | 4.4x | 3.4x | 3.5x |
| Rent To Monthly Income | 0.28x | 0.2x | 0.2x |
Median Home Value
Median Rent
Median Income
Silver City, NM Costs By Category
Detailed Silver City Services Costs Vs. New Mexico
| Item | Silver City | New Mexico |
|---|---|---|
| Shampoo | $0.96 | $1.06 |
| Movie | $10.74 | $10.68 |
| Bowling | $12.38 | $14.67 |
| Haircut | $19.3 | $18.62 |
| Beauty Salon | $34.66 | $39.05 |
Detailed Silver City Groceries Costs Vs. New Mexico
| Item | Silver City | New Mexico |
|---|---|---|
| Ground Beef | $4.98 | $4.22 |
| Fried Chicken | $1.17 | $1.39 |
| Milk | $2.16 | $2.05 |
| Potatoes | $3.46 | $3.29 |
| Pizza | $10.01 | $10.62 |
| Beer | $8.13 | $9.38 |
| Toothpaste | $2.33 | $2.34 |
Detailed Silver City Health Costs Vs. New Mexico
| Item | Silver City | New Mexico |
|---|---|---|
| Optometrist | $107.2 | $108.57 |
| Doctor | $106.77 | $116.17 |
| Dentist | $99.67 | $99.13 |
Detailed Silver City Transportation Costs Vs. New Mexico
| Item | Silver City | New Mexico |
|---|---|---|
| Gasoline | $2.11 | $2.22 |
| Tire Balancing | $47.87 | $50.07 |
Detailed Silver City Utilities Costs Vs. New Mexico
| Item | Silver City | New Mexico |
|---|---|---|
| All Electricity | $116.23 | $167.67 |
| Phone | $184.9 | $175.64 |
Silver City SnackAbility
/10
