Median one-bedroom rent across the cities we track is $889 in New Mexico versus $1,181 in Nevada. Overall, New Mexico runs roughly 25% cheaper on rent than Nevada, its main day-to-day cost driver.
Median household income across tracked cities is $65,604 in New Mexico and $70,723 in Nevada — about 7% higher in Nevada. New Mexico has a top state income tax rate of 5.90% and a 4.875% state sales tax; Nevada has no state income tax and a 6.85% state sales tax.
State Taxes
Sales Tax
4.875%
6.85%
+2.0 pp in Nevada
Income Tax (top rate)
5.90%
None
+5.9 pp in New Mexico
Housing (median across tracked cities)
Median 1BR Rent
$889
$1,181
+33% in Nevada
Median Home Value
$266,700
$395,300
+48% in Nevada
Income (median across tracked cities)
Median Household Income
$65,604
$70,723
+8% in Nevada
Climate (median across tracked cities)
Avg Annual Temperature
57.2°F
68.4°F
+11.2°F in Nevada
New Mexico vs Nevada — FAQ
- Is it cheaper to live in New Mexico or Nevada?
- New Mexico is cheaper on rent — its median one-bedroom of $889 runs about 25% below Nevada's $1,181, based on the cities we track in each state.
- How much more do you need to earn to live in New Mexico than in Nevada?
- To keep rent near the recommended 30% of gross income, based on median rent across tracked cities, you'd want to earn roughly $36,000 a year in New Mexico versus $47,000 in Nevada.
- Which has lower taxes, New Mexico or Nevada?
- New Mexico has a top state income tax rate of 5.90% and a 4.875% state sales tax. Nevada has no state income tax and a 6.85% state sales tax.
Housing, income, and climate are medians across the 1/1 cities we track in New Mexico/Nevada — 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.