Average Salary in New Mexico (NM)

New Mexico's economy is structured around an unusual federal-research base: Sandia National Laboratories and Los Alamos National Laboratory are among the largest employers in the state, and together with Kirtland Air Force Base and White Sands Missile Range, federal-and-defence employment accounts for a significantly larger share of state GDP than in almost any other state. The $58,722 median household income is below the national average — the research-and-defence sector pays well but is geographically concentrated around Albuquerque and Los Alamos, while much of the rest of the state has a more traditional economy. The Permian Basin in the southeastern counties (Lea and Eddy) has driven enormous oil-and-gas revenue for state coffers since 2018, funding large increases in education and public-sector spending. The cost-of-living index of 94 is below the national average, and effective purchasing power is roughly middle-of-the-pack. State income tax ranges from 1.7% to 5.9% across six brackets, with a 2019 reform that added a higher bracket on incomes above $315,000. The $12/hour minimum wage is above the federal floor. Property taxes are low. Detailed salary and employment data follow.