Is it cheaper to live in Cheyenne or Santa Fe?

Cheyenne, WY is cheaper. Its monthly baseline of $980 (1BR rent + utilities) runs about 25% below Santa Fe, NM's $1,310, mainly because of rent.

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

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $33,000 a year in Cheyenne versus $47,000 in Santa Fe.

Which has lower taxes, Cheyenne or Santa Fe?

Cheyenne is taxed under Wyoming's rules (no state income tax and a 4% 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).

Cheyenne vs Santa Fe Cost of Living 2026

Cheyenne

Wyoming

$980/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 $980 in Cheyenne, WY versus $1,310 in Santa Fe, NM. Overall, Cheyenne, WY is roughly 25% cheaper to live in day-to-day than Santa Fe, NM, driven mainly by rent.

Median household income is $77,176 in Cheyenne, WY and $70,110 in Santa Fe, NM — about 9% higher in Cheyenne, WY. Wyoming has no state income tax and a 4% state sales tax; New Mexico has a top state income tax rate of 5.90% and a 4.875% state sales tax.

Cheyenne, WY

Santa Fe, NM

Rent

Studio

$756

$969

+28% in Santa Fe, NM

1 Bedroom

$824

$1,167

+42% in Santa Fe, NM

2 Bedroom

$1,036

$1,559

+50% in Santa Fe, NM

3 Bedroom

$1,478

$1,733

+17% in Santa Fe, NM

Buying a Home

Median Home Value

$311,200

$411,500

+32% in Santa Fe, NM

Income

Median Household Income

$77,176

$70,110

+9% in Cheyenne, WY

Metro Median Wage (annual)

$51,540

$48,710

+5% in Cheyenne, WY

People & Lifestyle

Median Age

38.9 yr

46.4 yr

+7.5 yr in Santa Fe, NM

Homeownership

67.7%

62.8%

+4.9 pp in Cheyenne, WY

Bachelor's+ (25+)

32.9%

45.4%

+12.5 pp in Santa Fe, NM

Avg Commute

16.1 min

20.2 min

+4.1 min in Santa Fe, NM

Crime (per 100k/yr)

Violent Crime

334.6

843.3

+152% in Santa Fe, NM

Property Crime

3,030.3

5,189

+71% 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

46.5°F

51.9°F

+5.4°F in Santa Fe, NM

Annual Precipitation

15.9 in

13.5 in

+2.4 in in Cheyenne, WY

Gas

Regular Gasoline

$4.29/gal

$3.62/gal

+15% in Cheyenne, WY

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

Utilities

Electricity (¢/kWh)

14.8

14.1

+5% in Cheyenne, WY

Natural Gas ($/MCF)

$13.31

$11.90

+11% in Cheyenne, WY

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 (WY / NM)

4.875%

+0.9 pp in NM

Income Tax (top rate)

None

5.90%

+5.9 pp in NM

Cheyenne vs Santa Fe — FAQ

Is it cheaper to live in Cheyenne or Santa Fe?: Cheyenne, WY is cheaper. Its monthly baseline of $980 (1BR rent + utilities) runs about 25% below Santa Fe, NM's $1,310, mainly because of rent.
How much more do you need to earn to live in Cheyenne than in Santa Fe?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $33,000 a year in Cheyenne versus $47,000 in Santa Fe.
Which has lower taxes, Cheyenne or Santa Fe?: Cheyenne is taxed under Wyoming's rules (no state income tax and a 4% 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).