Affordable

What Salary Do You Need to Live in Santa Teresa?

To afford a 2-bedroom in Santa Teresa, you need to earn at least $45,000/year based on estimated fair market rent data. The median household income here is $58,320, which means the typical resident is $13,320 above the threshold.

Census ACS Data Pop. 6,396

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$788	$2,627	$31,520	$-26,800
1 Bedroom	$934	$3,113	$37,360	$-20,960
2 Bedroom BENCHMARK	$1,125	$3,750	$45,000	$-13,320
3 Bedroom	$1,373	$4,577	$54,920	$-3,400
4 Bedroom	$1,688	$5,627	$67,520	+$9,200

Affordability Breakdown

Where the required salary line crosses above Santa Teresa's median income — housing becomes unaffordable for the typical resident.

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$58,320

Annual household

2BR Required Salary

$45,000

Under 30% rule

Income Gap

+$13,320

Surplus

Verdict

Affordable

Ratio: 23.1%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in Santa Teresa

Your Annual Salary

Pre-filled with Santa Teresa's median household income

Max monthly rent you can afford$1,458

Studio

$788/mo

1 BR

$934/mo

2 BR

$1,125/mo

3 BR

$1,373/mo

4 BR

$1,688/mo

Your salary is $0 above the median income in Santa Teresa.

Salary Comparison by Bedroom

Bars left of the marker line are affordable for Santa Teresa's median earner. Bars to the right require above-median income.

Affordable Above Median Median Income

What This Means If You're Moving to Santa Teresa

Living in Santa Teresa is well within reach for most median-income earners. With a $13,320 cushion between what residents earn and what a 2-bedroom requires, households in Santa Teresa typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Santa Teresa, a studio at $788/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,373/month remains accessible for dual-income households earning above $54,920.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $67,500 would position you well — though many residents in Santa Teresa manage on less given the favorable rent-to-income dynamics.

Economic Outlook

Local Job Market & Housing Dynamics

Affording rent isn't just about housing prices—it's heavily dependent on local employment opportunities and the strength of the job market in Santa Teresa, New Mexico.

With a total population of 6,396, the city supports an active civilian workforce of 2,687 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $45,000 annual salary. The ratio of employed residents to the total population provides insight into the local economic health and competition for both jobs and housing.

Employed Workforce

2,687

Active civilian employees in Santa Teresa

Frequently Asked Questions About Renting in Santa Teresa

What salary do I need to live in Santa Teresa, New Mexico?

To afford a 2-bedroom in Santa Teresa under the 30% rule, you need an annual salary of at least $45,000. The median household income in Santa Teresa is $58,320.

Can I afford a 2-bedroom in Santa Teresa on $58,320?

The affordability verdict for Santa Teresa is "Affordable". The rent-to-income ratio is 23.1%, meaning median earners have a $13,320 surplus.

What is the average rent in Santa Teresa compared to median income?

The median gross rent in Santa Teresa is $934/month. With a median household income of $58,320, residents spend approximately 23.1% of their income on rent.

What salary do I need for a studio in Santa Teresa?

A studio in Santa Teresa rents for approximately $788/month. Under the 30% rule, you need an annual salary of $31,520 to afford this.

Is Santa Teresa considered an affordable place to live?

Based on the surplus of $13,320 and an affordability verdict of "Affordable", Santa Teresa is considered a affordable rental market when comparing the required 2-bedroom salary of $45,000 to the local median household income.

How Santa Teresa Compares

Other cities in New Mexico with salary requirements