Moving to New Mexico statistics (2025 data)

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Edited by: Elijah Vorrasi
A moving truck on a highway in New Mexico

Approximately 64,673 people made the move to New Mexico in 2023, drawn in by affordable living, job opportunities and stunning landscapes. The Land of Enchantment offers a median home price of $340,700 and a cost-of-living index of 94.2, both of which are lower than the national average.

Despite these benefits, the state’s growth has remained stagnant, with a net loss of 244 residents in 2023. The lower-than-average median household income of $58,360 can be a challenge for many movers, even when moving to top destinations like Rio Rancho, Las Cruces and Santa Fe. To prepare, understanding the opportunities and locations available to you is vital. Read on to discover what to expect when you make a short- or long-distance move to the Land of Enchantment.


Key insights

An estimated 64,673 people moved to New Mexico in 2023, marking a 10.3% decrease in the number of movers from the year prior (72,095).

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As of 2023, New Mexico has 2,114,371 residents, ranking 36th in the nation in terms of population.

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In 2024, the median rent in New Mexico is about $1,490, and the median home sale price is $340,700. That means the median New Mexico home is 19% less expensive than the U.S. median of $420,400.

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New Mexico’s cost-of-living index is 94.2, giving it the 22nd lowest cost of living in the U.S.

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New Mexico ranks as the 50th best U.S. state to move to in 2024.

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How many people move to New Mexico?

Approximately 64,673 people moved to New Mexico in 2023, while 64,917 moved out. This represents a net loss of 244 residents. The state received only roughly seven movers per day, with the vast majority of these movers being international migrants rather than domestic ones.

New Mexico has struggled to attract domestic migrants, but affordable housing and taxes have appealed to some. According to a recent ConsumerAffairs study based on a sample of 143,506 ConsumerAffairs.com users who expressed an interest in moving between January 2023 and March 2024, it ranked as the 28th most desired state for relocation.

Top 4 cities that people moved to in New Mexico

New Mexico ranks as the 50th best U.S. state to move to in 2024, according to weighted data on factors like affordability and quality of life. These statistics label it the second worst state to move to — behind only California — partially due to much higher desirability in neighboring Arizona and Texas.

People moving to the Land of Enchantment are choosing a diverse set of locations but exhibit a clear preference for larger cities and suburbs. Rio Rancho — a suburb of Albuquerque — attracted the most new residents, adding 6,616 (6.4% growth) between 2020 and 2023. It also had the highest population growth among the top cities. Though on opposite sides of the state, Southern Las Cruces and Northern Santa Fe also added new residents, attracting 3,510 and 1,662, respectively.

The top four New Mexico cities people moved to between 2020 and 2023 are as follows:

Why do people move to New Mexico?

People move to New Mexico for a variety of reasons, with retirement and job opportunities being the most commonly cited. Approximately 21.3% of inbound movers moved for retirement, as many are attracted to the warm weather and sunshine without the higher prices found in neighboring states. Between 2021 and 2022, the top three counties with the highest outbound migration to New Mexico were El Paso County, TX, Maricopa County, AZ, and Los Angeles County, CA.

However, job opportunities are still the primary factor driving people to New Mexico, cited by 30% of inbound migrants as their reason for moving. In 2024, the largest New Mexico industries include government, education and health services, and trade, transportation, and utilities. These three industries combined account for over 54% of the state’s nonfarm workers. The fastest-growing industry is manufacturing, growing at a rate of 3.2% between 2023 and 2024.

New Mexico housing statistics

With a median rent price of $1,489.92 and a median home sale price of $340,700, New Mexico renters and homeowners can expect to pay 19% less than the national median for housing.

New Mexico also has the 15th lowest property tax rate in the U.S. at 0.67% — exactly half that of Kansas. In 2021, the average property owner in New Mexico’s Sandoval County — where Rio Rancho is located — paid only $665 in annual property taxes. Residents typically pay far below average in property taxes, with those in Harding County paying as little as $258 that same year.

Cost-of-living statistics in New Mexico

New Mexico’s cost-of-living index is 94.2, making it the 22nd most affordable state in the union. Gas prices are also slightly less than the national average ($3.26) at $3.20 per gallon. The Land of Enchantment has the second highest oil and gas production of any state, potentially aiding in gas prices. However, partly due to the high carbon emissions that result from the oil and gas industry, it only ranks as the 38th greenest state.

Though New Mexico does have a lower-than-average cost of living, the state’s median household income is only $58,360. That means the typical household here earns 22.6% less than the national median of $75,358. Luckily, unemployment is also slightly lower (3.9%) than the national average (4.2%).

Overall, New Mexico offers a low cost of living but with the caveat of also having a low median household income. Would-be residents should budget carefully and be mindful of the job opportunities available.

Who lives in New Mexico?

Approximately 2,114,371 people live in New Mexico as of 2023, making it the 36th largest state in terms of population. Between 2022 and 2023, the population increased by only 895 people.

New Mexico’s population is slightly skewed female, with women accounting for 50.3% of residents and men accounting for 49.7%. In 2023, about 1.05 million New Mexico residents were male, and 1.06 million were female.

On average, New Mexico’s population is also slightly older (39.6 years old) than the U.S. average of 38.9 years. However, in terms of age, those between 25 and 44 years old still account for the largest share of New Mexicans at 25.7% of the population.

The vast majority of New Mexico residents are either white or Hispanic. White residents account for roughly 80.7% of the population (approximately 1.7 million people), while Hispanic residents account for 48.6%. Please note that those who identify as white in New Mexico are divided between the roughly 929,488 who do identify as Hispanic and the 777,397 who don’t. This is followed by a large share of Native American residents, accounting for 11.4% of the population.

Tips for moving to New Mexico

Not sure how to start your move to New Mexico? Consider these step-by-step moving tips:

1. Understand the cost of living

New Mexico offers a cost of living and home prices below the national average, making it an appealing option for many movers. However, a below-average median household income can still cause challenges. Whether you have a job lined up, we recommend researching local housing prices, property taxes and utility costs in your desired region before making the move. For helpful resources, visit the New Mexico Department of Finance and Administration website.

2. Explore the job market

From being the second-largest producer of crude oil in the U.S. to opportunities in government and tourism, New Mexico offers a diverse and growing job market. Urban areas like Albuquerque and Santa Fe offer everything you’d expect from major economic hubs, while rural areas are more centered around agriculture and energy. To find the right job, explore openings on the New Mexico Department of Workforce Solutions website or search local job boards.

3. Prepare for the intense climate

Though New Mexico is known for its arid, sunny desert climate, areas of higher elevation can also experience cold winters. Taos or Santa Fe, for example, can even experience snowfall during winter months. To prepare for the climate, we recommend investing in a diverse set of gear. Sun protection, hydration essentials and weather suitable for warm and cold weather are all important. For more information about the latest local weather patterns, visit the New Mexico Climate Center.

4. Research transportation options

If you’re moving to urban centers like Albuquerque or Santa Fe, public transportation is available in the form of buses and commuter rail. However, more rural mountain and desert towns will likely lack public transportation options, requiring a personal vehicle for travel. It can also be important to prepare for long distances between towns by topping off your gas beforehand or planning out gas station stops along your route. The New Mexico Department of Transportation website can be a great resource for planning your commute.

5. Be aware of natural hazards

New Mexico’s diverse geography and dry climate make it susceptible to droughts, wildfires and flash flooding. These hazards can be even more pronounced in mountainous regions. Regardless of where you choose to move to, we recommend researching local emergency plans and signing up for alerts from the New Mexico Department of Homeland Security and Emergency Management.

6. Explore natural landmarks

Whether you prefer taking in the stunning White Sands National Park or exploring the historic Carlsbad Caverns, New Mexico offers countless natural wonders. Hike, camp, ski and take road trips around the state’s diverse landscapes. Check out the New Mexico State Parks website to plan your adventures and connect with your new community.

7. Understand mover quotes and tipping

When moving to New Mexico, carefully review and compare moving company quotes. Be sure to account for potential additional fees depending on where you’re relocating to. Tipping movers is customary; a tip of 10% to 20% of the total cost is standard based on the quality of service.


Article Sources

ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. Specific sources for this article include:

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  2. State Population Totals and Components of Change: 2020-2023.” United States Census Bureau. Evaluated Nov. 22, 2024.
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  4. Median Sales Price of Houses Sold for the United States.” FRED Economic Data. Evaluated Nov. 22, 2024.
  5. Cost of Living Index by State 2024.” World Population Review. Evaluated Nov. 22, 2024.
  6. 2022-2023 State Net Migration.” Tampa Bay EDC. Evaluated Nov. 22, 2024.
  7. City and Town Population Totals: 2020-2023.” United States Census Bureau. Evaluated Nov. 25, 2024.
  8. Get Settled in New Mexico.” New Mexico Magazine. Evaluated Nov. 25, 2024.
  9. New Mexico Migration From 2021 to 2022.” New Mexico Department of Workforce Solutions. Evaluated Nov. 25, 2024.
  10. Economy at a Glance.” U.S. Bureau of Labor Statistics. Evaluated Nov. 25, 2024.
  11. Property Taxes by State and County, 2023.” Tax Foundation. Evaluated Nov. 25, 2024.
  12. National Average Gas Prices.” AAA. Evaluated Nov. 25, 2024.
  13. Oil and petroleum products explained.” U.S. Energy Information Administration. Evaluated Nov. 25, 2024.
  14. Household Income in States and Metropolitan Areas: 2022.” United States Census Bureau. Evaluated Nov. 25, 2024.
  15. Local Area Unemployment Statistics.” U.S. Bureau of Labor Statistics. Evaluated Nov. 25, 2024.
  16. State Population by Characteristics: 2020-2023.” United States Census Bureau. Evaluated Nov. 25, 2024.
  17. America Is Getting Older.” United States Census Bureau. Evaluated Nov. 25, 2024.
  18. Homepage.” New Mexico Department of Finance and Administration. Evaluated Nov. 26, 2024.
  19. Let us help you find what you're looking for.” New Mexico Department of Workforce Solutions. Evaluated Nov. 26, 2024.
  20. New Mexico Weather.” New Mexico State University. Evaluated Nov. 26, 2024.
  21. Welcome to the New Mexico Department of Transportation.” New Mexico Department of Transportation. Evaluated Nov. 26, 2024.
  22. Building a resilient New Mexico.” New Mexico Department of Homeland Security and Emergency Management. Evaluated Nov. 26, 2024.
  23. Find an adventure.” New Mexico State Parks. Evaluated Nov. 26, 2024.

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