Living Cost Compare
Salt Lake City

Utah

$1,300/mo est.

vs
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 $1,300 in Salt Lake City, UT versus $1,310 in Santa Fe, NM. Overall, Salt Lake City, UT is roughly 1% cheaper to live in day-to-day than Santa Fe, NM, driven mainly by electricity costs.

Median household income is $74,925 in Salt Lake City, UT and $70,110 in Santa Fe, NM — about 6% higher in Salt Lake City, UT. Utah has a top state income tax rate of 4.50% and a 6.1% state sales tax; New Mexico has a top state income tax rate of 5.90% and a 4.875% state sales tax.

Rent

Studio
$997
$969
+3% in Salt Lake City, UT
1 Bedroom
$1,166
$1,167
+0% in Santa Fe, NM
2 Bedroom
$1,461
$1,559
+7% in Santa Fe, NM
3 Bedroom
$1,993
$1,733
+13% in Salt Lake City, UT

Buying a Home

Median Home Value
$495,700
$411,500
+17% in Salt Lake City, UT

Income

Median Household Income
$74,925
$70,110
+6% in Salt Lake City, UT
Metro Median Wage (annual)
$55,240
$48,710
+12% in Salt Lake City, UT

People & Lifestyle

Median Age
33.0 yr
46.4 yr
+13.4 yr in Santa Fe, NM
Homeownership
46.8%
62.8%
+16.0 pp in Santa Fe, NM
Bachelor's+ (25+)
50.9%
45.4%
+5.5 pp in Salt Lake City, UT
Avg Commute
19.6 min
20.2 min
+0.6 min in Santa Fe, NM

Crime (per 100k/yr)

Violent Crime
878.8
843.3
+4% in Salt Lake City, UT
Property Crime
5,257.3
5,189
+1% in Salt Lake City, UT

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

Climate

Avg Annual Temperature
52.8°F
51.9°F
+0.9°F in Salt Lake City, UT
Annual Precipitation
16.1 in
13.5 in
+2.6 in in Salt Lake City, UT

Gas

Regular Gasoline
$4.29/gal
$3.62/gal
+15% in Salt Lake City, UT

Area: Rocky Mountain (PADD 4) vs Gulf Coast (PADD 3).

Utilities

Electricity (¢/kWh)
13.0
14.1
+9% in Santa Fe, NM
Natural Gas ($/MCF)
$10.26
$11.90
+16% in Santa Fe, NM

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

Groceries

Milk (gal)
$4.82
$4.82
about equal
Bread (lb)
$2.04
$2.04
about equal
Eggs (doz)
$2.19
$2.19
about equal
Ground Beef (lb)
$7.36
$7.36
about equal
Chicken (lb)
$2.01
$2.01
about equal
Bananas (lb)
$0.70
$0.70
about equal

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

State Taxes

Sales Tax (UT / NM)
6.1%
4.875%
+1.2 pp in UT
Income Tax (top rate)
4.50%
5.90%
+1.4 pp in NM

Salt Lake City vs Santa Fe — FAQ

Is it cheaper to live in Salt Lake City or Santa Fe?
Salt Lake City, UT is cheaper. Its monthly baseline of $1,300 (1BR rent + utilities) runs about 1% below Santa Fe, NM's $1,310, mainly because of electricity costs.
How much more do you need to earn to live in Salt Lake City 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 Salt Lake City versus $47,000 in Santa Fe.
Which has lower taxes, Salt Lake City or Santa Fe?
Salt Lake City is taxed under Utah's rules (a top state income tax rate of 4.50% and a 6.1% 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).