New Mexico Income Statistics
New Mexico Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of a state's residents based on income levels, employment rates, and income inequality metrics.
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C
New Mexico Below averageAmong the 5 least wealthy states in US
Source: Map AI Methodology
Wealthiest and Least Wealthy Counties in New Mexico
- Los Alamos County (149% of U.S. avg)
- Santa Fe County (104% of U.S. avg)
- Eddy County (102% of U.S. avg)
- Guadalupe County (64% of U.S. avg)
- Luna County (71% of U.S. avg)
- McKinley County (71% of U.S. avg)
Ranked by the Map AI Wealth Index, which combines income, employment, and income inequality metrics.
Income Statistics Overview
| Metric | New Mexico | US Average |
|---|---|---|
| Median Household Income | $64,523 | $80,455 |
| Median Personal Income | $52,404 | $60,758 |
| Average Yearly Income Growth | 4.4% | 4.8% |
| Six-Figure Earners | 10.2% | 13.9% |
| $200k+ Households | 7.8% | 13.2% |
The median household income in New Mexico is about 20% lower than in US. Income has been growing slower in New Mexico (4.4%/yr) than in US (4.8%/yr).
About 10% of adults in New Mexico earn six figures ($100,000 or more) a year, lower than the US average of 14%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in New Mexico grew by 50.4% from 2009 to 2024, reaching $64,523 in 2024. That's an average of about 4.4% per year.
Income Inequality and the Gender Pay Gap in New Mexico
| Metric | New Mexico | US Average |
|---|---|---|
| Gini Coefficient | 0.567 | 0.552 |
| Male Median Income | $60,037 | $69,667 |
| Female Median Income | $51,390 | $56,850 |
| Gender Pay Gap | 14.4% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In New Mexico, it is 0.567, higher than US's 0.552, so income is less evenly distributed here than there.
Men's income is about 17% more than women's income in New Mexico. Over a 35-year career, a 17% wage gap accumulates to roughly $302,645 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in New Mexico has narrowed from about 23% to 14% in 2024. Over that period the gap was widest at 24% in 2010. In dollar terms, the gap has narrowed by $917 since 2009.
Employment
| Metric | New Mexico | US Average |
|---|---|---|
| Unemployment Rate | 5.9% | 5.2% |
| Working from Home | 12.2% | 15.0% |
| Commute time (minutes) | 18 | 22 |
Approximately 58,140 people are unemployed in New Mexico.
The average commute time in New Mexico is 18 minutes, shorter than the 22 minutes in US.
Unemployment Rate Over Time
Since 2011, the unemployment rate in New Mexico has fallen from 8.1% to 5.9% in 2024. Over that period the rate peaked at 9.6% in 2013.
New Mexico Wealth Compared With Nearby States
New Mexico is the smallest of the 6 states compared here, 2,118,085 residents against a local median of 5,842,429. The measure that sets New Mexico apart most is median household income: $64,523, 20% below the local median of $80,381. That is the weaker end of the local range on this measure.
Unemployment tells the same story from another angle: 5.9% against a local median of 4.9%, 19% above it. Every measure here with a clear better direction points the same way, and it is the wrong way: New Mexico reads weaker than its neighbours on all of them. The states themselves spread $30,197 on median household income, so New Mexico sits at one end of an already wide local range rather than apart from it. New Mexico has the 6th highest median household income of the 6 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| New Mexico | 2,118,085 | $64,523 #6/6 | 4.4%/yr #5/6 | 5.9% #6/6 | 0.567 #5/6 |
| Colorado | 5,842,429 | $95,803 | 5.4%/yr | 4.6% | 0.524 |
| Arizona | 7,356,359 | $80,381 | 5.7%/yr | 5.1% | 0.548 |
| Texas | 30,160,889 | $78,939 | 4.6%/yr | 5.2% | 0.570 |
| Utah | 3,390,702 | $95,466 | 5.4%/yr | 3.5% | 0.551 |
| Oklahoma | 4,028,385 | $65,606 | 3.9%/yr | 4.9% | 0.553 |
Conclusion
Considering all these factors, New Mexico has an overall wealth index grade of C, making it about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in New Mexico.
How Rich Is New Mexico?
New Mexico has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $64,523, about 20% lower than the US average of $80,455.
How fast is household income rising in New Mexico?
Between 2009 and 2024, the median household income in New Mexico rose 50%, from $42,887 to $64,523. Over the same years, income here lagged behind the U.S. as a whole: +50% against +57%.
What was the median household income in New Mexico in 2023?
In 2023, the median household income in New Mexico was $62,406, up 6% from $58,752 in 2022. The US median that year was $78,147.
What was the median household income in New Mexico in 2020?
In 2020, the median household income in New Mexico was $51,439. By 2024 it had risen 25% to $64,523.
What is the Gini coefficient in New Mexico?
The Gini coefficient in New Mexico is 0.567. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in New Mexico?
Since 2009, the income gap between men and women in New Mexico has narrowed from about 23% to 14% in 2024. Over that period the gap was widest at 24% in 2010. In dollar terms, the gap has narrowed by $917 since 2009.
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