Is it cheaper to live in Jackson or Santa Fe?

Jackson, MS is cheaper. Its monthly baseline of $1,010 (1BR rent + utilities) runs about 23% below Santa Fe, NM's $1,310, mainly because of rent.

How much more do you need to earn to live in Jackson 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 Jackson versus $47,000 in Santa Fe.

Which has lower taxes, Jackson or Santa Fe?

Jackson is taxed under Mississippi's rules (a top state income tax rate of 4.00% and a 7% 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).

Jackson vs Santa Fe Cost of Living 2026

Jackson

Mississippi

$1,010/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 $1,010 in Jackson, MS versus $1,310 in Santa Fe, NM. Overall, Jackson, MS is roughly 23% cheaper to live in day-to-day than Santa Fe, NM, driven mainly by rent.

Median household income is $43,238 in Jackson, MS and $70,110 in Santa Fe, NM — about 38% higher in Santa Fe, NM. Mississippi has a top state income tax rate of 4.00% and a 7% state sales tax; New Mexico has a top state income tax rate of 5.90% and a 4.875% state sales tax.

Jackson, MS

Santa Fe, NM

Rent

Studio

$1,085

$969

+11% in Jackson, MS

1 Bedroom

$816

$1,167

+43% in Santa Fe, NM

2 Bedroom

$991

$1,559

+57% in Santa Fe, NM

3 Bedroom

$1,121

$1,733

+55% in Santa Fe, NM

Buying a Home

Median Home Value

$108,200

$411,500

+280% in Santa Fe, NM

Income

Median Household Income

$43,238

$70,110

+62% in Santa Fe, NM

Metro Median Wage (annual)

$42,850

$48,710

+14% in Santa Fe, NM

People & Lifestyle

Median Age

34.7 yr

46.4 yr

+11.7 yr in Santa Fe, NM

Homeownership

48.6%

62.8%

+14.2 pp in Santa Fe, NM

Bachelor's+ (25+)

28.6%

45.4%

+16.8 pp in Santa Fe, NM

Avg Commute

20.2 min

about equal

Crime (per 100k/yr)

Violent Crime

—

843.3

Property Crime

—

5,189

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

Climate

Avg Annual Temperature

65.3°F

51.9°F

+13.4°F in Jackson, MS

Annual Precipitation

54.3 in

13.5 in

+40.8 in in Jackson, MS

Gas

Regular Gasoline

$3.62/gal

about equal

Area: Gulf Coast (PADD 3) vs Gulf Coast (PADD 3).

Utilities

Electricity (¢/kWh)

16.2

14.1

+13% in Jackson, MS

Natural Gas ($/MCF)

$27.68

$11.90

+57% in Jackson, MS

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 Jackson, MS

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 (MS / NM)

4.875%

+2.1 pp in MS

Income Tax (top rate)

4.00%

5.90%

+1.9 pp in NM

Jackson vs Santa Fe — FAQ

Is it cheaper to live in Jackson or Santa Fe?: Jackson, MS is cheaper. Its monthly baseline of $1,010 (1BR rent + utilities) runs about 23% below Santa Fe, NM's $1,310, mainly because of rent.
How much more do you need to earn to live in Jackson 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 Jackson versus $47,000 in Santa Fe.
Which has lower taxes, Jackson or Santa Fe?: Jackson is taxed under Mississippi's rules (a top state income tax rate of 4.00% and a 7% 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).