Is it cheaper to live in Las Vegas or Santa Fe?

Santa Fe, NM is cheaper. Its monthly baseline of $1,310 (1BR rent + utilities) runs about 1% below Las Vegas, NV's $1,320, mainly because of rent.

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

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

Which has lower taxes, Las Vegas or Santa Fe?

Las Vegas is taxed under Nevada's rules (no state income tax and a 6.85% 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).

Las Vegas vs Santa Fe Cost of Living 2026

Las Vegas

Nevada

$1,320/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 $1,320 in Las Vegas, NV versus $1,310 in Santa Fe, NM. Overall, Santa Fe, NM is roughly 1% cheaper to live in day-to-day than Las Vegas, NV, driven mainly by rent.

Median household income is $70,723 in Las Vegas, NV and $70,110 in Santa Fe, NM — about 1% higher in Las Vegas, NV. Nevada has no state income tax and a 6.85% state sales tax; New Mexico has a top state income tax rate of 5.90% and a 4.875% state sales tax.

Las Vegas, NV

Santa Fe, NM

Rent

Studio

$992

$969

+2% in Las Vegas, NV

1 Bedroom

$1,181

$1,167

+1% in Las Vegas, NV

2 Bedroom

$1,401

$1,559

+11% in Santa Fe, NM

3 Bedroom

$1,740

$1,733

+0% in Las Vegas, NV

Buying a Home

Median Home Value

$395,300

$411,500

+4% in Santa Fe, NM

Income

Median Household Income

$70,723

$70,110

+1% in Las Vegas, NV

Metro Median Wage (annual)

$46,670

$48,710

+4% in Santa Fe, NM

People & Lifestyle

Median Age

38.5 yr

46.4 yr

+7.9 yr in Santa Fe, NM

Homeownership

55.7%

62.8%

+7.1 pp in Santa Fe, NM

Bachelor's+ (25+)

27.3%

45.4%

+18.1 pp in Santa Fe, NM

Avg Commute

25.8 min

20.2 min

+5.6 min in Las Vegas, NV

Crime (per 100k/yr)

Violent Crime

433.3

843.3

+95% in Santa Fe, NM

Property Crime

2,642.1

5,189

+96% 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

68.4°F

51.9°F

+16.5°F in Las Vegas, NV

Annual Precipitation

5.4 in

13.5 in

+8.1 in in Santa Fe, NM

Gas

Regular Gasoline

$5.09/gal

$3.62/gal

+29% in Las Vegas, NV

Area: West Coast (PADD 5) vs Gulf Coast (PADD 3).

Public Transit

Base Fare (one-way)

$2.00

—

Adult base one-way fare — RTC (residential routes) vs — (2026).

Utilities

Electricity (¢/kWh)

13.6

14.1

+4% in Santa Fe, NM

Natural Gas ($/MCF)

$12.09

$11.90

+2% in Las Vegas, NV

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 (NV / NM)

6.85%

4.875%

+2.0 pp in NV

Income Tax (top rate)

None

5.90%

+5.9 pp in NM

Las Vegas vs Santa Fe — FAQ

Is it cheaper to live in Las Vegas or Santa Fe?: Santa Fe, NM is cheaper. Its monthly baseline of $1,310 (1BR rent + utilities) runs about 1% below Las Vegas, NV's $1,320, mainly because of rent.
How much more do you need to earn to live in Las Vegas than in Santa Fe?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $47,000 a year in Las Vegas versus $47,000 in Santa Fe.
Which has lower taxes, Las Vegas or Santa Fe?: Las Vegas is taxed under Nevada's rules (no state income tax and a 6.85% 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).