Median one-bedroom rent across the cities we track is $1,235 in Florida versus $889 in New Mexico. Overall, New Mexico runs roughly 28% cheaper on rent than Florida, its main day-to-day cost driver.
Median household income across tracked cities is $69,142 in Florida and $65,604 in New Mexico — about 5% higher in Florida. Florida has no state income tax and a 6% state sales tax; New Mexico has a top state income tax rate of 5.90% and a 4.875% state sales tax.
State Taxes
Sales Tax
6%
4.875%
+1.1 pp in Florida
Income Tax (top rate)
None
5.90%
+5.9 pp in New Mexico
Housing (median across tracked cities)
Median 1BR Rent
$1,235
$889
+28% in Florida
Median Home Value
$320,700
$266,700
+17% in Florida
Income (median across tracked cities)
Median Household Income
$69,142
$65,604
+5% in Florida
Climate (median across tracked cities)
Avg Annual Temperature
71.8°F
57.2°F
+14.6°F in Florida
Florida vs New Mexico — FAQ
- Is it cheaper to live in Florida or New Mexico?
- New Mexico is cheaper on rent — its median one-bedroom of $889 runs about 28% below Florida's $1,235, based on the cities we track in each state.
- How much more do you need to earn to live in Florida than in New Mexico?
- To keep rent near the recommended 30% of gross income, based on median rent across tracked cities, you'd want to earn roughly $49,000 a year in Florida versus $36,000 in New Mexico.
- Which has lower taxes, Florida or New Mexico?
- Florida has no state income tax and a 6% state sales tax. New Mexico has a top state income tax rate of 5.90% and a 4.875% state sales tax.
Housing, income, and climate are medians across the 2/1 cities we track in Florida/New Mexico — not population-weighted statewide figures. Taxes are exact state-level rates. Sources: US Census Bureau, ACS 5-Year; NOAA Climate Normals 1981–2010; Tax Foundation 2026.