Is it cheaper to live in Raleigh or Santa Fe?

Santa Fe, NM is cheaper. Its monthly baseline of $1,310 (1BR rent + utilities) runs about 13% below Raleigh, NC's $1,510, mainly because of rent.

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

To keep rent near the recommended 30% of gross income, you'd want to earn roughly $53,000 a year in Raleigh versus $47,000 in Santa Fe.

Which has lower taxes, Raleigh or Santa Fe?

Raleigh is taxed under North Carolina's rules (a top state income tax rate of 3.99% and a 4.75% 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).

Raleigh vs Santa Fe Cost of Living 2026

Raleigh

North Carolina

$1,510/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 $1,510 in Raleigh, NC versus $1,310 in Santa Fe, NM. Overall, Santa Fe, NM is roughly 13% cheaper to live in day-to-day than Raleigh, NC, driven mainly by rent.

Median household income is $82,424 in Raleigh, NC and $70,110 in Santa Fe, NM — about 15% higher in Raleigh, NC. North Carolina has a top state income tax rate of 3.99% and a 4.75% state sales tax; New Mexico has a top state income tax rate of 5.90% and a 4.875% state sales tax.

Raleigh, NC

Santa Fe, NM

Rent

Studio

$1,301

$969

+26% in Raleigh, NC

1 Bedroom

$1,323

$1,167

+12% in Raleigh, NC

2 Bedroom

$1,462

$1,559

+7% in Santa Fe, NM

3 Bedroom

$1,715

$1,733

+1% in Santa Fe, NM

Buying a Home

Median Home Value

$377,800

$411,500

+9% in Santa Fe, NM

Income

Median Household Income

$82,424

$70,110

+15% in Raleigh, NC

Metro Median Wage (annual)

$51,990

$48,710

+6% in Raleigh, NC

People & Lifestyle

Median Age

34.7 yr

46.4 yr

+11.7 yr in Santa Fe, NM

Homeownership

51.2%

62.8%

+11.6 pp in Santa Fe, NM

Bachelor's+ (25+)

52.9%

45.4%

+7.5 pp in Raleigh, NC

Avg Commute

23.4 min

20.2 min

+3.2 min in Raleigh, NC

Crime (per 100k/yr)

Violent Crime

491.5

843.3

+72% in Santa Fe, NM

Property Crime

2,838.4

5,189

+83% 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

60.6°F

51.9°F

+8.7°F in Raleigh, NC

Annual Precipitation

46.0 in

13.5 in

+32.5 in in Raleigh, NC

Gas

Regular Gasoline

$3.86/gal

$3.62/gal

+6% in Raleigh, NC

Area: East Coast (PADD 1) vs Gulf Coast (PADD 3).

Public Transit

Base Fare (one-way)

$1.25

—

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

Utilities

Electricity (¢/kWh)

15.1

14.1

+6% in Raleigh, NC

Natural Gas ($/MCF)

$27.56

$11.90

+57% in Raleigh, NC

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 Raleigh, NC

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 (NC / NM)

4.75%

4.875%

+0.1 pp in NM

Income Tax (top rate)

3.99%

5.90%

+1.9 pp in NM

Raleigh vs Santa Fe — FAQ

Is it cheaper to live in Raleigh or Santa Fe?: Santa Fe, NM is cheaper. Its monthly baseline of $1,310 (1BR rent + utilities) runs about 13% below Raleigh, NC's $1,510, mainly because of rent.
How much more do you need to earn to live in Raleigh than in Santa Fe?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $53,000 a year in Raleigh versus $47,000 in Santa Fe.
Which has lower taxes, Raleigh or Santa Fe?: Raleigh is taxed under North Carolina's rules (a top state income tax rate of 3.99% and a 4.75% 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).