Question: Why Is New Mexico A Bad Place To Retire?

What are the pros and cons of retiring in New Mexico?

There are pros and cons to retiring in New Mexico. Some of the pros include the low cost of living, and there is plenty to see as far as beautiful and luscious landscapes go. As for the cons, New Mexico is known to have poor quality roads and bad traffic as well as a high crime rate.

Is New Mexico good place to retire?

New Mexico is not only home to some gorgeous scenery and incredible restaurants, but it is also a terrific place to retire. While there are many cities throughout the Land of Enchantment to consider, here are seven that all individuals approaching retirement should consider.

What is bad about New Mexico?

New Mexico performed poorly in several categories including the highest percentage of the population living in poverty, lowest income growth, the lowest population aged 25 and older with a high school diploma or higher, and had the highest crime rate.

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Is it better to retire in New Mexico or Arizona?

Comparisons and Observations New Mexico has the least expensive real estate. From a tax standpoint for retirees Nevada is the best choice, since it has no income tax. Arizona is next, with no tax on Social Security and the lowest income tax (although the highest property tax rate).

Where in New Mexico should you not live?

Based on these factors, here are the 20 worst places to live in New Mexico.

  • Rio Rancho. Just making the list of the worst places to live in New Mexico is Rio Rancho, which is also the 20th most dangerous place to live in the state.
  • Lovington.
  • Edgewood.
  • Truth or Consequences.
  • Alamogordo.
  • Ruidoso.
  • Taos.
  • Las Cruces.

How much money do you need to live comfortably in New Mexico?

The income needed to live comfortably in New Mexico is $42,445. 50% of this is for necessities, 30% is for discretionary spending, and 20% is for savings. According to Living Wage, a single person with no children can live off of $13.97 per hour in Mexico, or $26,880 a year.

Is it cheaper to live in Arizona or New Mexico?

What many retirees are finding is better deals, say experts: The median home in New Mexico costs just $151,900 and the cost of living is 3.1% lower than the national average. That makes much of the state far less expensive than Arizona’s most famous retirement havens.

Is it cheaper to live in Texas or New Mexico?

Cost of Living New Mexico and Texas are both affordable places to live compared to the national average. However, cost of living is 5% higher in Texas, where larger cities and more expensive houses contribute to higher prices in almost every category.

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Why you shouldn’t move to Albuquerque?

New Mexico has the highest rate of property crime in the United States, driven in no small part by the situation in Albuquerque. This can be attributed to various socioeconomic factors in the city, including low education levels, a high unemployment rate, and higher levels of substance abuse in the population.

Is New Mexico expensive to live?

Low Cost of Living New Mexico is renowned for its low cost of living, about 3.1% lower than the national average. The average home in New Mexico costs roughly $151,000.

Is New Mexico a poor state?

New Mexico’s poverty rate in 2019 was 18.2 percent, a decline from 2018 when it was 19.5 percent, but still the third highest in the country. The poverty rate for New Mexicans 65 years and over was 13.5 percent, the highest in the country and 4.1 percentage points higher than the national average of 9.4 percent.

Is New Mexico tax-friendly for retirees?

New Mexico is moderately tax-friendly for retirees. For seniors age 65 or older, there is an $8,000 deduction on retirement income if the household adjusted gross income (AGI) is less than $28,500 for single filers or $51,000 for married people filing jointly.

Is it cheaper to live in Nevada or Arizona?

According to the retirement community website 55 Places, Arizona has a cost of living that is 5% below the national average. Nevada also has active adult communities and a low cost of living. That said, if you retire near Las Vegas, you may experience higher prices than other parts of the state.

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How much do you need to retire in Arizona?

To retire comfortably in Arizona you should have about $1.2 million in savings, slightly higher than national average, but in line with other hot retirement destinations like Florida.

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