New Jersey vs New Mexico: taxes, cost of living, laws

New Jersey

High tax burden · COL index 121

Wins 7 categories

New Mexico

Moderate tax burden · COL index 91

Wins 7 categories

New Jersey's top income tax rate is 10.75% vs New Mexico's 5.9%. Cost of living in New Jersey (index 121) runs 33% higher than New Mexico (index 91). Property taxes are meaningfully different: New Jersey averages 2.13% annually vs New Mexico's 0.55%. The median home in New Jersey costs $500K vs $330K in New Mexico.

New Jersey

New Mexico

Taxes

10.75%

Income Tax (top rate)

5.9%

2.13%/yr

Property Tax Rate

0.55%/yr

6.6%

Sales Tax (avg)

7.82%

Yes

Social Security Tax

Yes

Estate Tax

Yes

As income

Capital Gains Tax

As income

Housing & Cost of Living

121

COL Index (100=avg)

$500K

Median Home Price

$330K

$2,200/mo

Median Rent (2BR/mo)

$1,250/mo

$1K/yr

Home Insurance (avg/yr)

$2K/yr

Crime & Safety

213

Violent Crime / 100K

778

1,368

Property Crime / 100K

3,286

Sex Offenders / 100K

130

134

Homeless / 100K

217

Healthcare

#19 of 50

Healthcare Quality Rank

#49 of 50

79 yrs

Life Expectancy

74.1 yrs

6.8%

Uninsured Rate

9.2%

Yes

Medicaid Expansion

Yes

Education

#2 of 50

K-12 Quality Rank

#46 of 50

School Choice / Vouchers

Childcare

$1,800/mo

Avg Infant Care / mo

$950/mo

Utilities & Daily Costs

$155/mo

Avg Energy Bill / mo

$115/mo

$640/mo

Avg Groceries / mo

$460/mo

#44 of 50

Road Quality Rank

#29 of 50

Social Policy

Gun Laws Grade

B-

D+6.0

2024 Presidential Margin

D+10.0

Category wins

New Jersey

New Mexico

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