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

New Mexico

Moderate tax burden · COL index 91

Wins 8 categories

Nevada

Low tax burden · COL index 101

Wins 7 categories

Nevada has no state income tax. New Mexico's top rate is 5.9%. Cost of living in Nevada (index 101) runs 11% higher than New Mexico (index 91). The median home in Nevada costs $415K vs $330K in New Mexico. Politically, Nevada voted Republican in 2024 (R+3.0) while New Mexico went Democratic (D+10.0).

New Mexico

Nevada

Taxes

5.9%

Income Tax (top rate)

None

0.55%/yr

Property Tax Rate

0.53%/yr

7.82%

Sales Tax (avg)

8.23%

Yes

Social Security Tax

Yes

Estate Tax

Yes

As income

Capital Gains Tax

None

Housing & Cost of Living

COL Index (100=avg)

101

$330K

Median Home Price

$415K

$1,250/mo

Median Rent (2BR/mo)

$1,550/mo

$2K/yr

Home Insurance (avg/yr)

$800/yr

Crime & Safety

778

Violent Crime / 100K

595

3,286

Property Crime / 100K

2,634

130

Sex Offenders / 100K

242

217

Homeless / 100K

309

Healthcare

#49 of 50

Healthcare Quality Rank

#35 of 50

74.1 yrs

Life Expectancy

75.5 yrs

9.2%

Uninsured Rate

10.6%

Yes

Medicaid Expansion

Yes

Education

#46 of 50

K-12 Quality Rank

#48 of 50

School Choice / Vouchers

Yes

Childcare

$950/mo

Avg Infant Care / mo

$1,200/mo

Utilities & Daily Costs

$115/mo

Avg Energy Bill / mo

$130/mo

$460/mo

Avg Groceries / mo

$500/mo

#29 of 50

Road Quality Rank

#32 of 50

Social Policy

B-

Gun Laws Grade

C+

D+10.0

2024 Presidential Margin

R+3.0

Category wins

New Mexico

Nevada

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