Is it cheaper to live in Dallas or Santa Fe?

Santa Fe, NM is cheaper. Its monthly baseline of $1,310 (1BR rent + utilities) runs about 11% below Dallas, TX's $1,480, mainly because of rent.

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

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $51,000 a year in Dallas versus $47,000 in Santa Fe.

Which has lower taxes, Dallas or Santa Fe?

Dallas is taxed under Texas's rules (no state income tax and a 6.25% 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).

Dallas vs Santa Fe Cost of Living 2026

Dallas

Texas

$1,480/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 $1,480 in Dallas, TX versus $1,310 in Santa Fe, NM. Overall, Santa Fe, NM is roughly 11% cheaper to live in day-to-day than Dallas, TX, driven mainly by rent.

Median household income is $67,760 in Dallas, TX and $70,110 in Santa Fe, NM — about 3% higher in Santa Fe, NM. Texas has no state income tax and a 6.25% state sales tax; New Mexico has a top state income tax rate of 5.90% and a 4.875% state sales tax.

Dallas, TX

Santa Fe, NM

Rent

Studio

$1,259

$969

+23% in Dallas, TX

1 Bedroom

$1,280

$1,167

+9% in Dallas, TX

2 Bedroom

$1,500

$1,559

+4% in Santa Fe, NM

3 Bedroom

$1,559

$1,733

+11% in Santa Fe, NM

Buying a Home

Median Home Value

$295,300

$411,500

+39% in Santa Fe, NM

Income

Median Household Income

$67,760

$70,110

+3% in Santa Fe, NM

Metro Median Wage (annual)

$51,440

$48,710

+5% in Dallas, TX

People & Lifestyle

Median Age

33.4 yr

46.4 yr

+13.0 yr in Santa Fe, NM

Homeownership

42.4%

62.8%

+20.4 pp in Santa Fe, NM

Bachelor's+ (25+)

37.4%

45.4%

+8.0 pp in Santa Fe, NM

Avg Commute

26.0 min

20.2 min

+5.8 min in Dallas, TX

Crime (per 100k/yr)

Violent Crime

661.9

843.3

+27% in Santa Fe, NM

Property Crime

3,412.9

5,189

+52% 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

67.2°F

51.9°F

+15.3°F in Dallas, TX

Annual Precipitation

37.6 in

13.5 in

+24.1 in in Dallas, TX

Gas

Regular Gasoline

$3.62/gal

about equal

Area: Texas vs Gulf Coast (PADD 3).

Public Transit

Base Fare (one-way)

$2.50

—

Adult base one-way fare — DART vs — (2026).

Utilities

Electricity (¢/kWh)

16.4

14.1

+14% in Dallas, TX

Natural Gas ($/MCF)

$30.48

$11.90

+61% in Dallas, TX

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

Groceries

Milk (gal)

$4.00

$4.82

+20% in Santa Fe, NM

Bread (lb)

$1.75

$2.04

+17% in Santa Fe, NM

Eggs (doz)

$2.21

$2.19

+1% in Dallas, TX

Ground Beef (lb)

$6.45

$7.36

+14% in Santa Fe, NM

Chicken (lb)

$1.90

$2.01

+6% in Santa Fe, NM

Bananas (lb)

$0.62

$0.70

+14% in Santa Fe, NM

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

State Taxes

Sales Tax (TX / NM)

6.25%

4.875%

+1.4 pp in TX

Income Tax (top rate)

None

5.90%

+5.9 pp in NM

Dallas vs Santa Fe — FAQ

Is it cheaper to live in Dallas or Santa Fe?: Santa Fe, NM is cheaper. Its monthly baseline of $1,310 (1BR rent + utilities) runs about 11% below Dallas, TX's $1,480, mainly because of rent.
How much more do you need to earn to live in Dallas than in Santa Fe?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $51,000 a year in Dallas versus $47,000 in Santa Fe.
Which has lower taxes, Dallas or Santa Fe?: Dallas is taxed under Texas's rules (no state income tax and a 6.25% 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).