States › New Mexico › Santa Teresa

Is Santa Teresa, NM expensive to live in?

OKRent takes 25 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,43818% lower than U.S. average
💵 Families earn per year (2026)$68,119about $5,677/month · 22% lower than U.S. average
🔑 House price$215,10035% lower than U.S. average

Rent is lower than in 61% of U.S. cities. A typical house costs about 3.2 years of household income.

How much money do I need?

To rent here comfortably, you should earn about $57,520 a year. That is $28 an hour at a full-time job.

Is rent cheaper than other New Mexico cities?

No. Rent here is more expensive than in most of New Mexico. It is number 34 of 44 cities from cheapest to most expensive.

Santa Teresa
$1,438
North Hobbs
$1,478
Raton
$1,183
Truth or Consequences
$658
Edgewood
$1,181
Aztec
$667
Zuni Pueblo
$623

How much do households earn in Santa Teresa?

Under $25k
11.7%
$25k–50k
24.6%
$50k–100k
41.8%
$100k–150k
12.2%
$150k+
5.1%

Share of households by yearly income. 17.3% of households earn $100,000 or more.

Rent by apartment size in Santa Teresa

SizeSanta TeresaU.S. average
1 bedroom$1,431$1,324
2 bedrooms$1,096$1,509
3 bedrooms$1,787$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Santa Teresa overall?

Everyday prices in New Mexico overall are 8% below the U.S. average (index 92.2, U.S. = 100).

Housing
74
Goods (food, clothes…)
96
Utilities
78
Other services
99
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Santa Teresa, so the New Mexico figure is shown.

Taxes and bills in Santa Teresa

🏛️ Property tax$1,794a year · 0.83% of home value · U.S. $3,119
⚡ Electric bill$103a month (typical) · U.S. $156

Life in Santa Teresa

Commute to work28.5 minU.S.: 26.4 min
College degree37.6%U.S.: 35.7%
Own their home73.7%U.S.: 65.2%
Below poverty line23.9%U.S.: 12.5%
Unemployment1.9%U.S.: 5.2%

Is it cheaper to rent or buy in Santa Teresa?

Renting is cheaper right now: about $54 a month less.

Renting
$1,438
Owning
$1,492

Owning assumes a typical $215,100 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $21,510 for the down payment.

Frequently asked questions

What is the average rent in Santa Teresa, NM?

Renting in Santa Teresa costs a median of about $1,438 a month in 2026, including utilities. The New Mexico median is $1,181.

How much do I need to make to live in Santa Teresa?

To keep rent under 30% of income, you need about $57,520 a year, or $28 an hour at a full-time job.

Is Santa Teresa cheap or expensive?

Santa Teresa is rated OK: rent takes 25.3% of the typical household income of $68,119. It ranks 34th cheapest of 44 New Mexico cities we track.

How much are property taxes in Santa Teresa?

The median homeowner in Santa Teresa pays $1,794 a year in property taxes, about 0.83% of the median home value.

Is Santa Teresa more expensive than the national average?

Overall prices in New Mexico are 8% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Santa Teresa?

The median home value in Santa Teresa is $215,100, about 3.2 times the typical yearly household income.

6,041 people live in Santa Teresa. Numbers are typical (middle) values.