Average Salary in New Mexico

Convert between annual salary and hourly rate for New Mexico workers

New Mexico Salary Overview

The average annual salary in New Mexico is $50,850, while the median salary sits at $42,890 per year. For a standard 40-hour work week, that translates to approximately $24.45/hour (average) or $20.62/hour (median). The minimum wage in New Mexico is currently $12.00/hour, which equals about $24,960/year for a full-time worker.

New Mexico's cost of living index is 92.5 (national average = 100), which means living in New Mexico is below the national average. When evaluating a salary offer in New Mexico, it's important to consider this cost of living alongside the raw numbers.

Salary Quick Facts - New Mexico

Metric	Value
Average Annual Salary	$50,850
Median Annual Salary	$42,890
Average Hourly Rate	$24.45/hr
Minimum Wage	$12.00/hr
Cost of Living Index	92.5 (US avg = 100)
Average Monthly Salary	$4,238

Top Employers in New Mexico

Major employers in New Mexico include Sandia National Labs, University of New Mexico, Intel. These organizations represent some of the largest job providers in the state across healthcare, technology, education, and other key industries.

Major Cities in New Mexico

The largest cities in New Mexico by population are Albuquerque, Las Cruces, Rio Rancho, Santa Fe, Roswell. Salaries can vary significantly between metropolitan and rural areas, with urban centers typically offering higher wages but also higher costs of living.

How to Use This Calculator

Enter your annual salary to see the equivalent hourly rate, or enter an hourly rate to calculate the annual salary. Adjust the hours per week and weeks per year to match your work schedule. The default assumes a standard full-time schedule of 40 hours per week, 52 weeks per year (2,080 hours total).

Want to see your actual take-home pay after taxes in New Mexico? Use our New Mexico Take-Home Pay Calculator to factor in federal and state income taxes, Social Security, and Medicare.