Colorado
Moderate tax burden · COL index 110
Wins 8 categories
New Mexico
Moderate tax burden · COL index 91
Wins 7 categories
New Mexico's top income tax rate is 5.9% vs Colorado's 4.4%. Cost of living in Colorado (index 110) runs 21% higher than New Mexico (index 91). The median home in Colorado costs $545K vs $330K in New Mexico.
Taxes
Housing & Cost of Living
Crime & Safety
Healthcare
Education
Childcare
Utilities & Daily Costs
Social Policy
Category wins
8
Colorado
7
New Mexico
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Score For My Profile →People Also Ask
What is the downfall of living in Colorado?
Why are people moving out of New Mexico?
Is it better to retire in Colorado or New Mexico?
According to U-Haul Holding Company (NYSE: UHAL), New Mexico was outranked by neighboring states such as Texas, Arizona, and Colorado. However, it still managed to be ranked 16th overall among US states, indicating that the perception that New Mexico is a bad place to retire might not be true.
Are taxes higher in Colorado or New Mexico?
Taxes in Colorado vs. Both states have their own unique tax structures that can markedly affect your cost of living. Colorado's state income tax rate is 4.4%. In contrast, New Mexico offers a broader range, with rates from 1.7% to 5.7%, potentially benefiting those with lower incomes.