New Mexico has found itself among the states ranked as some of the least favorable places to live regarding money and financial well-being — joining other low rankings for the Land of Enchantment. According to a comprehensive analysis by GOBankingRates, factors such as crime rates, property and income taxes, unemployment, and overall cost of living were considered to determine the states where your money may not stretch as far as elsewhere in the country.
The study incorporated data from various trusted sources, ranging from NeighborhoodScout for crime statistics to ATTOM Data for property tax rates. Additionally, data from the U.S. Census American Community Survey, the U.S. Department of Agriculture, and other reputable sources were included in the assessment.
Hawaii took the unenviable top spot as the worst state for financial well-being. Hawaii’s overall cost of living is a staggering 79 percent higher than the national average, with healthcare and grocery prices soaring 18 percent and 25.6 percent above the norm, respectively. Despite these challenges, Hawaii does boast the lowest average state property tax rate in the country and a relatively lower violent crime rate.
Often seen as a land of rugged beauty, Alaska holds the second position on this list. It has the second-highest violent crime rate in the nation, and its overall cost of living is 24.4 percent higher than the national average, with groceries and healthcare costs soaring 27.4 percent and 49.8 percent above average, respectively. However, Alaska does not impose an income tax, offering some financial relief.
Washington, D.C., while not a state but an influential territory, finds itself in the mix due to concerning statistics across various parameters. D.C. has the highest violent and property crime rates among all 50 states. It also imposes the third-highest average state income tax rate and reports the second-highest unemployment rate at 5.74 percent. Additionally, the cost of living in the nation’s capital is 48.7 percent above the national average.
California, another state with a high cost of living, houses the largest number of unemployed individuals at 1.6 million. It ranks in the top five for unemployment rates in the nation, with an overall cost of living 34.5 percent higher than the national average. The state also grapples with a relatively high debt-to-income ratio.
Unfortunately, New Mexico stands out for having one of the country’s highest violent crime rates and property crime rates. Additionally, it reports the third-highest poverty rate among all U.S. states. While its overall cost of living isn’t significantly above the national average, healthcare costs in New Mexico are nearly on par, at 99.6 percent.
The study also highlighted other states, including Maryland, Louisiana, New York, and South Carolina, for various economic challenges, such as high property tax rates, elevated income tax rates, high crime rates, and significant poverty levels.
While these rankings provide a snapshot of the financial landscape in each state, it’s essential to consider individual circumstances and preferences when evaluating the best places to live based on financial factors.
This don’t surprise me with New Mexico, this state is so out of control,with the police not doing their job,the department of justice ⚖️ had to come in, you got cops on the take thinking cause they have a badge their above the law,seen this 1st hand, you have judges letting murderers back out,you have Cyfd who don’t give a crap about the kids, their reputation sucks,then you got the healthcare system that’s so broken,if you have a deathwish this state will fulfill it and I can go on.
Please, just go!
You should, you’re part of the problem.
DITTO!!! Sam is part of the problem.
No, just go!
Remember that you voted for this SITUATION! 4 more years,
Well I didn’t vote for this. I’m not one of the simpletons that vote Democrat regardless of who is on the ballot. But then they count ballots and not who was voted for.
You’re so right. NM is a sanctuary city thanks to the people who voted for this in the last elections. Hopefully they’ll vote wisely next year.
New Mexico——- “Land of Disenchantment.”
Always free to leave!
Yes you are and the sooner the better.
The Land of Entrapment!
Come on vacation leave on probation.
New Mexico’s problems can all be funneled back to its communist philosophy where the “leaders “ are anti police and abhor law and order. They managed to change pursuit laws that favor criminals that flee police. They’ve minimized property crimes to misdemeanors , they removed qualified immunity for police, causing low retention , recruiting issues and low morale. Wonderful New Mexico is one of the few states that taxes labor and industry is also nonexistent due to high taxes. Poverty, child welfare, poor health care and neglect plus rampant corruption put icing on the cake.
Not that I do not agree that the left is destroying our state and many NMs have no idea how they get screwed every day of their life. We are a conservative state that has a large part of the population that think they are democrats, again if NMs knew how bad it is they would vote conservative. We do have a lot of good folks, we really do, we also have beautiful weather and sites. I sometimes want to move but not sure where, TX is being run by RINOs, AZ as well, I do not want tornados or high humidity or cold so I guess I am stuck trying to convince folks that their beliefs are conservative not democrats.
The Santa Fe Ring is still alive although it may no longer consist of just lawyers. As the sayings go ” The nut does not fall far from the tree” and “History Repeats” are still true.
https://en.wikipedia.org/wiki/Santa_Fe_Ring
https://www.santafenewmexican.com/pasatiempo/books/so-runs-the-tide-away-what-was-the-santa-fe-ring/article_ba141f54-ea6b-5324-94cb-a0a2ec5d5494.html
What was will be again, there is nothing new under the sun.
If you get what you have always gotten….you will have what you have always had.
We will find ourselves here again one day if we haven’t learned from history.
https://archive.org/details/TheGulagArchipelago/Solzhenitzyn_-_Gulag_Archiepelago_-_001-104.mp3
What needs pointing out is the actual differences. In numbers. In examples. In ACTUAL PRICE OR COST DIFFERENCES to show the stupidity of permitting a minimum wage to sure to $12.00 per hour for UNSKILLED LABOR…
So I volunteer since i have been to a Walmart in West Columbia Texas… and bought Pepsid for the same number of tablets for $20.88… While In Deming, New Mexico Walmart, the cost for that same exact product was…$29.88.
Texas Minimum wage? $7.50 per hour for UNSKILLED LABOR…
New Mexico Minimum wage? $12.00 per hour for UNSKILLED LABOR…
The actual differences? Texas is .69879 % the same cost for the same product in NM.
The difference of MINUMIUM WAGE UNSKILLED LABOR?
Texas is .625% of NM.
So I submit this to the idiots voting DNC or dead… It cost less, about 20.212%, to purchase the same items in Texas that NM…AND,
Texas’s DNC MANDATED minimum wage FOR UNSKILLED LABOR is 27.5% lower than NM.
Which leads to a even a further disparity difference of 6.31% between these 2 factors… meaning NM is on a 6.73% higher reduction in the purchasing power of our standard form of monetary value.
6.73 plus 20.212 is 26.942%.
Which in the sale of that one product, Pepsid, equals that the standard cost of living is higher in New Mexico… by 26.942% .
Take a bow DNC of New Mexico… we are the poorest, and getting ready to be even poorer… and don’t even start on gasoline… of the CPI BS…
The City of Houston Texas has over 3 million people. The ENTIRE STATE OF NM is like 2.8 million… If Texas doesn’t raise the minimum to $12.00 a hour FOR UNSKILLED LABOR to match NM’s BS DNC Edwardian led wage increases… ?
What do you think is gonna happen to the CPI this October?
That is correct… it wont move significantly enough for fixed income people to get ahead.
You love to throw numbers around but please learn the proper use of percent.
It goes so far past your locally elected.
You may or may not find this helpful. Either way I will put it here and you can ignore it or read it.
Local politics is similar to looking at a glass of water and when you are told ” this all the water of the worlds oceans in a glass”…you believe it and never search to find out if it’s true or not.
5th-Gen Warfare Terms and Tactics
“The deliberate manipulation of an observer’s context in order to achieve a desired outcome.”
https://globalcovidsummit.org/experts/drrobertmalone/global-issues/5th-gen-warfare-terms-and-tactics
Many reasons to live and love NM.
But no place is perfect. DWI crime is truly off the charts but other States made the penalties harder and that helps to reduce repeat offenders.
No where else you will find the little joys like green chilies festivals, music concerts all year long for free.
And just the celebration of all the cultural events, arts of our Native American roots in this nation. No matter where I have lived in NM people have been nice.
New Mexico was a culture shock for me at first but after living here for going on eight years, I learned how to play the game well. It is a welfare state, that is the local economy, it is a communist region in the U.S. If you are old school and feel money should be earned fair and square through employment only, move to Texas. There are not enough jobs to go around, let alone good jobs. So get over your ego and realize, yes, New Mexico is, by far, the most liberal State in the country and this will never change.
You keep voting for the same corrupt party and expecting change.. Ain’t gonna happen! Change the politics and disband the corruption then NM will have a chance. No more “sanctuary cities”, CLOSE THE BORDER, arrest and DETAIN criminals -no more of the revolving door at the jail house! Remove no cajone~s judges and dis bar the NO MORALS lawyers who let criminals back on the street. Change needs to happen -from the piglet squatter in the roundhouse to the easily paid off dog catcher things need to change!