Is it cheaper to live in Denver or Santa Fe?

Santa Fe, NM is cheaper. Its monthly baseline of $1,310 (1BR rent + utilities) runs about 25% below Denver, CO's $1,750, mainly because of rent.

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

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $63,000 a year in Denver versus $47,000 in Santa Fe.

Which has lower taxes, Denver or Santa Fe?

Denver is taxed under Colorado's rules (a top state income tax rate of 4.40% and a 2.9% 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).

Denver vs Santa Fe Cost of Living 2026

Denver

Colorado

$1,750/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 $1,750 in Denver, CO versus $1,310 in Santa Fe, NM. Overall, Santa Fe, NM is roughly 25% cheaper to live in day-to-day than Denver, CO, driven mainly by rent.

Median household income is $91,681 in Denver, CO and $70,110 in Santa Fe, NM — about 24% higher in Denver, CO. Colorado has a top state income tax rate of 4.40% and a 2.9% state sales tax; New Mexico has a top state income tax rate of 5.90% and a 4.875% state sales tax.

Denver, CO

Santa Fe, NM

Rent

Studio

$1,497

$969

+35% in Denver, CO

1 Bedroom

$1,583

$1,167

+26% in Denver, CO

2 Bedroom

$1,958

$1,559

+20% in Denver, CO

3 Bedroom

$2,269

$1,733

+24% in Denver, CO

Buying a Home

Median Home Value

$586,700

$411,500

+30% in Denver, CO

Income

Median Household Income

$91,681

$70,110

+24% in Denver, CO

Metro Median Wage (annual)

$62,320

$48,710

+22% in Denver, CO

People & Lifestyle

Median Age

35.2 yr

46.4 yr

+11.2 yr in Santa Fe, NM

Homeownership

49.1%

62.8%

+13.7 pp in Santa Fe, NM

Bachelor's+ (25+)

55.6%

45.4%

+10.2 pp in Denver, CO

Avg Commute

25.4 min

20.2 min

+5.2 min in Denver, CO

Crime (per 100k/yr)

Violent Crime

999.3

843.3

+16% in Denver, CO

Property Crime

4,781.1

5,189

+9% 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

50.2°F

51.9°F

+1.7°F in Santa Fe, NM

Annual Precipitation

15.6 in

13.5 in

+2.1 in in Denver, CO

Gas

Regular Gasoline

$4.27/gal

$3.62/gal

+15% in Denver, CO

Area: Denver vs Gulf Coast (PADD 3).

Public Transit

Base Fare (one-way)

$2.75

—

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

Utilities

Electricity (¢/kWh)

16.2

14.1

+13% in Denver, CO

Natural Gas ($/MCF)

$11.92

$11.90

+0% in Denver, CO

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 (CO / NM)

2.9%

4.875%

+2.0 pp in NM

Income Tax (top rate)

4.40%

5.90%

+1.5 pp in NM

Denver vs Santa Fe — FAQ

Is it cheaper to live in Denver or Santa Fe?: Santa Fe, NM is cheaper. Its monthly baseline of $1,310 (1BR rent + utilities) runs about 25% below Denver, CO's $1,750, mainly because of rent.
How much more do you need to earn to live in Denver than in Santa Fe?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $63,000 a year in Denver versus $47,000 in Santa Fe.
Which has lower taxes, Denver or Santa Fe?: Denver is taxed under Colorado's rules (a top state income tax rate of 4.40% and a 2.9% 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).