Salary Overview for New Mexico
The median individual income in New Mexico is $31,120 per year, while the mean (average) individual income is $42,280. The median household income is $58,722.
Cost of Living Adjusted Salary
New Mexico's cost of living index is 94 (national average = 100). This means the median salary of $31,120 in New Mexico has the purchasing power of approximately $33,106 at the national average cost of living. Your dollar goes further in New Mexico than in most states.
Minimum Wage in New Mexico
The current minimum wage in New Mexico is $12.00/hour, which equals approximately $24,960 per year for a full-time worker (40 hours/week, 52 weeks). See our complete New Mexico minimum wage guide for tipped wages, scheduled increases, and more.
Top Employers in New Mexico
- Sandia National Labs
- University of New Mexico
- Presbyterian Healthcare
Major Industries in New Mexico
- Federal/National Labs
- Oil & Gas
- Healthcare
Tax Rates in New Mexico
See the full tax breakdown including income tax, sales tax, property tax, and more on our New Mexico tax rates page.
Calculate Your Take-Home Pay
Use our Salary Calculator to convert between hourly, weekly, monthly, and annual pay, and estimate your take-home pay in New Mexico after federal and state taxes.