Average salary in New Mexico

New Mexico, also known as the Land of Enchantment, has a unique blend of cultures and a rich history. If you're considering living or working in New Mexico, it's essential to understand the financial landscape. The average salaries in New Mexico can vary depending on the occupation, industry, and location.

New Mexico is known for its affordable cost of living, making it an attractive destination for job seekers and those looking for a better quality of life. According to the Missouri Economic Research and Information Center, New Mexico is ranked 14th in the country for the cost of living. But which cities and counties offer the highest average salaries?

Average salary in New Mexico by city

City living is often more expensive than living in more rural areas, but it’s also where the money is. New Mexico’s own cities can vary massively in average salary; Los Alamos commands into six figures, while places including Sunland Park, Deming and Chaparral are below $30,000.

Average earnings by city—or any other geographical metric—is just one way of calculating wealth, and certainly shouldn’t be the only way you look at your own earning potential in a given place. It doesn’t take into account the type of jobs that people do to earn above or below this average bracket, and omits any consideration for the number of people living in a household. However, it’s certainly one way of establishing which place offers good earning opportunities.

The US Census Bureau’s latest American Community Survey has calculated the average earnings for the 20 largest cities in New Mexico, which you can find ranked by size below.

Average salary in New Mexico by county

Reviewing average salaries in New Mexico by city is not necessarily an adequate metric for average salaries across the state, since it’s entirely urban focused. A good idea is to weigh these figures up against the average salary in New Mexico by county, as this will take areas outside the main cities into account and offer a broader idea of salary ranges.

The same survey from the US Census Bureau gives further insight this way, with the average household income calculated for the largest counties in the state.

Highest paying jobs in New Mexico

There’s another weighty factor that will influence how much you earn if you live in New Mexico: your job type. Average salaries for various sectors and job roles can vary massively across the state, so it’s absolutely something to consider when looking at salaries by location.

U.S. Bureau of Labor Statistics has calculated a comprehensive list of annual salaries by occupation area, which you can also find below.

Frequently asked questions about salaries in New Mexico

What is the average salary in New Mexico by age?
Alongside location and occupation, salaries in New Mexico are also dependent on age, since more senior workers will be paid more. Then, when they retire, their income will dip again as they will rely on pensions and other forms of set income.

The Census Bureau data finds that householders under 25 have a median household income of $29,375; householders aged 24 to 44 years old have a median income of $51,302; those aged 45 to 64 years old have a median income of $61,038; and those 65 and older have a median income of $44,316.

What is a ‘good’ salary in New Mexico?
The median income in New Mexico is $48,059. However, defining a ‘good’ salary can depend on a variety of factors, such as the cost of living in the area, an individual's personal financial situation, and career aspirations.

What is the average salary in New Mexico by hour?
If Americans work an average of 1,801 hours per year—at 37.5 hours a week—then the average hourly salary in New Mexico is $26.66.

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