Cost of Living in Hope, NM
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
105.2
100 = national avg
+5.2 vs national average
Living Wage (1 Adult)
$46,281
per year
Living Wage (Family of 4)
$109,391
per year
Cost Index by Category
Housing46.9
Food129.0
Transportation151.3
Healthcare123.2
Utilities106.8
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,084
per month
2 Bedroom
$1,188
per month
The overall cost of living index in Hope is 105.2, which is 5.2% above the national average. Housing costs are below the national average at an index of 46.9. A single adult needs to earn approximately $46,281 per year to cover basic expenses.