Is Phoenix, AZ cheaper than Santa Fe, NM?

Based on cost of living data, Phoenix, AZ is 11.8% more expensive than Santa Fe, NM. This translates to spending an extra $882 per month.

What salary do I need in Phoenix, AZ to live like I do in Santa Fe, NM?

If you earn $150,000 in Santa Fe, NM, you'd need approximately $160,589.461 in Phoenix, AZ to maintain the same standard of living.

How does housing cost compare between Santa Fe, NM and Phoenix, AZ?

Housing in Phoenix, AZ is 39.4% more expensive than in Santa Fe, NM. For a two-bedroom apartment, rent is $1,750/month in Phoenix, AZ compared to $1,446/month in Santa Fe, NM.

How much can I save per month by moving from Santa Fe, NM to Phoenix, AZ?

Living in Phoenix, AZ costs approximately $882 more per month than Santa Fe, NM, or $10589 more per year, based on a $150,000 salary.

Santa Fe, NM vs Phoenix, AZ: Cost of Living Comparison 2026

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Cost of Living Comparison 2026

📍 Santa Fe, NM — ZIP-level rent data · COL adjusted from Albuquerque, NM area

Current salary in Santa Fe, NM

Numbers update automatically as you type

You'd spend $882/month more in Phoenix, AZ

$150.0K in your current city equals $160.6K in Phoenix, AZ

Rent data from HUD ZIP-level estimates · COL index from area

Overall Cost

↑ 11.8%

More expensive

Monthly Impact

$882

Extra cost

Annual Impact

$10.6K

Per year

Based on monthly living costs (rent, groceries, utilities, transport, healthcare). Home purchase prices shown separately below.

Santa Fe, NM

Population:89K

Cost Index:100

Median Home:$553K

Phoenix, AZ

Population:1608K

Cost Index:112

Median Home:$414K

Santa Fe, NM

The Land of Enchantment

89K

Population

State Tax

Yes

Located in New Mexico, this city has a population of 89K residents.

Phoenix, AZ

The Grand Canyon State

1.6M

Population

State Tax

Yes

Climate

Hot desert

Notable Facts

•Fastest growing major city
•Desert metropolis
•Spring training capital

Major Industries

TechnologyHealthcareTourismManufacturing

Cost Breakdown by Category

Annual spending: Santa Fe, NM vs Phoenix, AZ

Category	Santa Fe, NM	Phoenix, AZ	Difference	Change
🏠Housing	$2,000/mo	$2,788/mo	↑ $788more	39.4%
🚗Transportation	$1,301/mo	$1,489/mo	↑ $188more	14.4%
⚡All Utilities	$496/mo	$561/mo	↑ $65.57more	13.2%
🏥Healthcare	$538/mo	$589/mo	↑ $51.07more	9.5%
🛒Groceries	$946/mo	$963/mo	↑ $17.54more	1.9%
📦Other	$1,676/mo	$1,677/mo	↑ $1.48more	0.1%

🏠Housing

↑ 39.4%

Santa Fe, NM

$2,000

Phoenix, AZ

$2,788

Difference

$788

🚗Transportation

↑ 14.4%

Santa Fe, NM

$1,301

Phoenix, AZ

$1,489

Difference

$188

⚡All Utilities

↑ 13.2%

Santa Fe, NM

$496

Phoenix, AZ

$561

Difference

$65.57

🏥Healthcare

↑ 9.5%

Santa Fe, NM

$538

Phoenix, AZ

$589

Difference

$51.07

🛒Groceries

↑ 1.9%

Santa Fe, NM

$946

Phoenix, AZ

$963

Difference

$17.54

📦Other

↑ 0.1%

Santa Fe, NM

$1,676

Phoenix, AZ

$1,677

Difference

$1.48

🏠Rent Comparison

Studio

From$1,082

To$1,390

↑ $308

1 Bed

From$1,190

To$1,510

↑ $320

2 Bed

From$1,446

To$1,750

↑ $304

3 Bed

From$1,818

To$2,330

↑ $512

Santa Fe, NMZIP-level data

1BR range: $1,440–$1,440/mo

Phoenix, AZZIP-level data

1BR range: $1,300–$2,380/mo

💡 Note: Rent prices are based on HUD Fair Market Rent data and represent median costs. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$6,956

Monthly in Santa Fe, NM

$8,068

Monthly in Phoenix, AZ

$1,111

Difference

Home Values

Santa Fe

Phoenix

$553K

Median Value

$414K

↓ -0.8%

YoY Change

↓ -3.1%

↑ +25.8%

5-Year Change

↑ +30.2%

$553K

Price Range

$274K - $957K

Homes in Phoenix are 25% less expensive than Santa Fe

Calculate payment - Santa Fe Calculate payment - Phoenix

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↑ $1.8K

Per year

Monthly Difference

$153

More take-home

Effective Rate Diff

1.2%

Rate difference

Santa Fe, NM

Federal Income Tax

Effective: 18.9%

$25.5K

New Mexico State Tax

Effective: 4.7%

$7.1K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 29.4%

$44.1K

Take-Home Pay

$8,826/month

$105.9K

Phoenix, AZ

Federal Income Tax

Effective: 18.9%

$25.5K

Arizona State Tax

Effective: 3.5%

$5.2K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 28.2%

$42.2K

Take-Home Pay

$8,979/month

$107.8K

Additional Tax Information

Santa Fe, NM Tax Rates

Sales Tax:7.6%

Property Tax:0.8%

Phoenix, AZ Tax Rates

Sales Tax:8.5%

Property Tax:0.6%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.