Cost of Living in Shiprock, NM: Rent, Income & Home Prices

CheapRent takes 14 cents of every $1 people earn here.

🏠 Rent per month (2026)$46174% lower than U.S. average

💵 Families earn per year (2026)$38,718about $3,227/month · 56% lower than U.S. average

🔑 House price$104,40069% lower than U.S. average

Rent here is among the lowest 10% of all U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards.

How much money do I need?

To rent here comfortably, you should earn about $18,440 a year. That is $9 an hour at a full-time job.

Is rent cheaper than other New Mexico cities?

Yes. Rent here is cheaper than in most of New Mexico. It is number 1 of 44 cities from cheapest to most expensive.

Shiprock

$461

$1,480

$1,148

$1,271

$1,308

$1,212

$961

How much do households earn in Shiprock?

Under $25k

25.0%

$25k–50k

22.1%

$50k–100k

19.4%

$100k–150k

13.4%

$150k+

5.2%

Share of households by yearly income. 18.6% of households earn $100,000 or more.

Rent by apartment size in Shiprock

Size	Shiprock	U.S. average
1 bedroom	$617	$1,324
2 bedrooms	$604	$1,509
3 bedrooms	$774	$1,698

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

How expensive is Shiprock overall?

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

Housing

Goods (food, clothes…)

Utilities

Other services

U.S. average

100

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

Taxes and bills in Shiprock

⚡ Electric bill$164a month (typical) · U.S. $156

Life in Shiprock

Commute to work28.7 minU.S.: 26.4 min

College degree11.6%U.S.: 35.7%

Own their home49.1%U.S.: 65.2%

Below poverty line34.6%U.S.: 12.5%

Unemployment14.9%U.S.: 5.2%

Is it cheaper to rent or buy in Shiprock?

Renting is cheaper right now: about $263 a month less.

Renting

$461

Owning

$724

Owning assumes a typical $104,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $10,440 for the down payment.

Frequently asked questions

What is the average rent in Shiprock, NM?

Renting in Shiprock costs a median of about $461 a month in 2026, including utilities. The New Mexico median is $1,181.

How much do I need to make to live in Shiprock?

To keep rent under 30% of income, you need about $18,440 a year, or $9 an hour at a full-time job.

Is Shiprock cheap or expensive?

Shiprock is rated Cheap: rent takes 14.3% of the typical household income of $38,718. It ranks 1st cheapest of 44 New Mexico cities we track.

Is Shiprock 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 Shiprock?

The median home value in Shiprock is $104,400, about 2.7 times the typical yearly household income.

7,610 people live in Shiprock. Numbers are typical (middle) values.

Is Shiprock, NM expensive to live in?