Is it cheaper to live in Santa Fe or Tampa?

Santa Fe, NM is cheaper. Its monthly baseline of $1,310 (1BR rent + utilities) runs about 13% below Tampa, FL's $1,500, mainly because of rent.

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

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

Which has lower taxes, Santa Fe or Tampa?

Santa Fe is taxed under New Mexico's rules (a top state income tax rate of 5.90% and a 4.875% state sales tax); Tampa under Florida's (no state income tax and a 6% state sales tax).

Santa Fe vs Tampa Cost of Living 2026

Santa Fe

New Mexico

$1,310/mo est.

Tampa

Florida

$1,500/mo est.

Monthly estimate = 1BR rent + electricity + gas

A one-person monthly baseline (1BR rent plus typical utilities) runs $1,310 in Santa Fe, NM versus $1,500 in Tampa, FL. Overall, Santa Fe, NM is roughly 13% cheaper to live in day-to-day than Tampa, FL, driven mainly by rent.

Median household income is $70,110 in Santa Fe, NM and $71,302 in Tampa, FL — about 2% higher in Tampa, FL. New Mexico has a top state income tax rate of 5.90% and a 4.875% state sales tax; Florida has no state income tax and a 6% state sales tax.

Santa Fe, NM

Tampa, FL

Rent

Studio

$969

$1,242

+28% in Tampa, FL

1 Bedroom

$1,167

$1,324

+13% in Tampa, FL

2 Bedroom

$1,559

$1,673

+7% in Tampa, FL

3 Bedroom

$1,733

$1,729

+0% in Santa Fe, NM

Buying a Home

Median Home Value

$411,500

$375,300

+9% in Santa Fe, NM

Income

Median Household Income

$70,110

$71,302

+2% in Tampa, FL

Metro Median Wage (annual)

$48,710

$48,940

+0% in Tampa, FL

People & Lifestyle

Median Age

46.4 yr

35.6 yr

+10.8 yr in Santa Fe, NM

Homeownership

62.8%

50.2%

+12.6 pp in Santa Fe, NM

Bachelor's+ (25+)

45.4%

44.6%

+0.8 pp in Santa Fe, NM

Avg Commute

20.2 min

24.7 min

+4.5 min in Tampa, FL

Crime (per 100k/yr)

Violent Crime

843.3

443.2

+47% in Santa Fe, NM

Property Crime

5,189

1,473.2

+72% 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

51.9°F

73.4°F

+21.5°F in Tampa, FL

Annual Precipitation

13.5 in

46.3 in

+32.8 in in Tampa, FL

Gas

Regular Gasoline

$3.62/gal

$3.77/gal

+4% in Tampa, FL

Area: Gulf Coast (PADD 3) vs Florida.

Public Transit

Base Fare (one-way)

—

$2.00

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

Utilities

Electricity (¢/kWh)

14.1

15.2

+7% in Tampa, FL

Natural Gas ($/MCF)

$11.90

$23.62

+98% in Tampa, FL

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

Groceries

Milk (gal)

$4.82

$4.00

+17% in Santa Fe, NM

Bread (lb)

$2.04

$1.75

+14% in Santa Fe, NM

Eggs (doz)

$2.19

$2.21

+1% in Tampa, FL

Ground Beef (lb)

$7.36

$6.45

+12% in Santa Fe, NM

Chicken (lb)

$2.01

$1.90

+6% in Santa Fe, NM

Bananas (lb)

$0.70

$0.62

+12% in Santa Fe, NM

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

State Taxes

Sales Tax (NM / FL)

4.875%

+1.1 pp in FL

Income Tax (top rate)

5.90%

None

+5.9 pp in NM

Santa Fe vs Tampa — FAQ

Is it cheaper to live in Santa Fe or Tampa?: Santa Fe, NM is cheaper. Its monthly baseline of $1,310 (1BR rent + utilities) runs about 13% below Tampa, FL's $1,500, mainly because of rent.
How much more do you need to earn to live in Santa Fe than in Tampa?: To keep rent near the recommended 30% of gross income, you'd want to earn roughly $47,000 a year in Santa Fe versus $53,000 in Tampa.
Which has lower taxes, Santa Fe or Tampa?: Santa Fe is taxed under New Mexico's rules (a top state income tax rate of 5.90% and a 4.875% state sales tax); Tampa under Florida's (no state income tax and a 6% 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).