Salary Needed to Live in Santa Fe as a Retiree
A retired individual (65+) needs approximately $23,788/year to live comfortably in Santa Fe, NM — including 5% savings.
Comfortable Salary
$23,788
with 5% savings
Bare Minimum
$22,159
no savings buffer
Monthly Expenses
$1,348
11% above national avg
Detailed Monthly Budget for a Retiree in Santa Fe
| Expense | Santa Fe | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $163 | $121 | +35% |
| 🛒 Groceries | $25 | $16 | +56% |
| ⚡ Utilities | $13 | $15 | -13% |
| 🚗 Transportation | $19 | $18 | +6% |
| 🛡️ Car Insurance | $208 | $215 | -3% |
| 🏥 Health Insurance | $58 | $54 | +7% |
| Medicare Supplement | $224 | $200 | +12% |
| Prescription Drugs | $168 | $150 | +12% |
| Internet + Phone | $134 | $120 | +12% |
| Recreation & Social | $224 | $200 | +12% |
| Home Maintenance | $112 | $100 | +12% |
| Total Monthly | $1,348 | $1,209 | +11% |
How We Calculated the Salary
Monthly expenses:$1,348
Target savings (5%):$76/mo
Monthly after-tax needed:$1,424
Effective tax rate:27%
Gross annual salary needed:$23,788
Other Household Types in Santa Fe
Related Pages
FAQ
What salary does a retiree need in Santa Fe?
A retiree needs approximately $23,788/year ($1,982/month gross) to live comfortably in Santa Fe with a 5% savings rate.
How much is rent for a retiree in Santa Fe?
A 1-2br senior-friendly in Santa Fe costs approximately $163/month, which is the largest single expense at 12% of the total budget.
Is Santa Fe affordable for a retiree?
Santa Fe is above the national average for retiree living costs, requiring 11% more salary than the US median.