Is it cheaper to live in Boise or Santa Fe?

Boise, ID is cheaper. Its monthly baseline of $1,260 (1BR rent + utilities) runs about 4% below Santa Fe, NM's $1,310, mainly because of rent.

How much more do you need to earn to live in Boise than in Santa Fe?

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $45,000 a year in Boise versus $47,000 in Santa Fe.

Which has lower taxes, Boise or Santa Fe?

Boise is taxed under Idaho's rules (a top state income tax rate of 5.30% and a 6% state sales tax); Santa Fe under New Mexico's (a top state income tax rate of 5.90% and a 4.875% state sales tax).

Boise vs Santa Fe Cost of Living 2026

Boise

Idaho

$1,260/mo est.

Santa Fe

New Mexico

$1,310/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $1,260 in Boise, ID versus $1,310 in Santa Fe, NM. Overall, Boise, ID is roughly 4% cheaper to live in day-to-day than Santa Fe, NM, driven mainly by rent.

Median household income is $81,308 in Boise, ID and $70,110 in Santa Fe, NM — about 14% higher in Boise, ID. Idaho has a top state income tax rate of 5.30% 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.

Boise, ID

Santa Fe, NM

Rent

Studio

$1,021

$969

+5% in Boise, ID

1 Bedroom

$1,133

$1,167

+3% in Santa Fe, NM

2 Bedroom

$1,342

$1,559

+16% in Santa Fe, NM

3 Bedroom

$1,749

$1,733

+1% in Boise, ID

Buying a Home

Median Home Value

$456,000

$411,500

+10% in Boise, ID

Income

Median Household Income

$81,308

$70,110

+14% in Boise, ID

Metro Median Wage (annual)

$49,100

$48,710

+1% in Boise, ID

People & Lifestyle

Median Age

38.2 yr

46.4 yr

+8.2 yr in Santa Fe, NM

Homeownership

63.0%

62.8%

+0.2 pp in Boise, ID

Bachelor's+ (25+)

46.6%

45.4%

+1.2 pp in Boise, ID

Avg Commute

19.1 min

20.2 min

+1.1 min in Santa Fe, NM

Crime (per 100k/yr)

Violent Crime

301

843.3

+180% in Santa Fe, NM

Property Crime

1,135.1

5,189

+357% in Santa Fe, NM

FBI Crime Data Explorer. Offenses per 100,000 residents per year; agency reporting practices vary, so this is approximate.

Climate

Avg Annual Temperature

52.5°F

51.9°F

+0.6°F in Boise, ID

Annual Precipitation

11.7 in

13.5 in

+1.8 in in Santa Fe, NM

Gas

Regular Gasoline

$4.29/gal

$3.62/gal

+15% in Boise, ID

Area: Rocky Mountain (PADD 4) vs Gulf Coast (PADD 3).

Utilities

Electricity (¢/kWh)

12.3

14.1

+14% in Santa Fe, NM

Natural Gas ($/MCF)

$10.82

$11.90

+10% in Santa Fe, NM

Residential, state-level averages (EIA). MCF = 1,000 cubic feet.

Groceries

Milk (gal)

$4.82

about equal

Bread (lb)

$2.04

about equal

Eggs (doz)

$2.19

about equal

Ground Beef (lb)

$7.36

about equal

Chicken (lb)

$2.01

about equal

Bananas (lb)

$0.70

about equal

Average prices — West vs West (BLS). Regional where available, otherwise U.S. average.

State Taxes

Sales Tax (ID / NM)

4.875%

+1.1 pp in ID

Income Tax (top rate)

5.30%

5.90%

+0.6 pp in NM

Boise vs Santa Fe — FAQ

Is it cheaper to live in Boise or Santa Fe?: Boise, ID is cheaper. Its monthly baseline of $1,260 (1BR rent + utilities) runs about 4% below Santa Fe, NM's $1,310, mainly because of rent.
How much more do you need to earn to live in Boise than in Santa Fe?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $45,000 a year in Boise versus $47,000 in Santa Fe.
Which has lower taxes, Boise or Santa Fe?: Boise is taxed under Idaho's rules (a top state income tax rate of 5.30% and a 6% state sales tax); Santa Fe under New Mexico's (a top state income tax rate of 5.90% and a 4.875% state sales tax).

Sources: US Census Bureau, ACS 5-Year (rent, income, home value, demographics); NOAA Climate Normals 1981–2010 (climate); EIA weekly retail (gas); Tax Foundation 2026 (state taxes).