📈 Investment & Retirement Calculators New Mexico

New Mexico Retirement Calculator

Plan your retirement in New Mexico. Factor in lower cost of living and state income tax. Free calculator.

Free — No Sign-up Verified Data Editorially Reviewed Updated Feb 2026

New Mexico Quick Facts

5.9% Income Tax Rate

0.80% Property Tax Rate

$54,020 Median Income

94.6 Cost of Living

How This Calculator Works

Calculation methodology and assumptions

Retirement planning for New Mexico. New Mexico taxes retirement income at rates up to 5.9%. Cost of living index: 94.6 (100 = national avg). Desired income is pre-filled based on 80% of New Mexico's median household income, adjusted for local costs. Uses compound growth with 4% safe withdrawal rate.

Key State Information

Retiring in New Mexico: New Mexico taxes retirement income at rates up to 5.9%. Cost of living: 94.6/100. Property tax: 0.8%. Median home: $285,000. Average home insurance: $1,780/yr.

Standard financial formulas Pre-filled with real state data Estimates only — not financial advice

Data Source

Census Bureau, Tax Foundation, SSA

View Original Source | Verified 2024-12-01 | Updated annually

Frequently Asked Questions

Is New Mexico a good state to retire in?

New Mexico's state income tax of up to 5.9% may reduce retirement income significantly. Cost of living is near the national average. Median home price: $285,000.

How much do I need to retire in New Mexico?

Using the 4% rule, to generate $3,601/month (80% of New Mexico median income) you'd need approximately $1,080,400 saved. Adjust up or down based on your lifestyle and housing costs.