Cost of Living in Edgewood
Edgewood's cost of living centers on a genuinely low property tax rate and a median household income running above the New Mexico statewide average, offset by volatile housing prices and elevated statewide insurance costs.
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Learn moreA genuinely low property tax rate
Ownwell's cited 0.61% Edgewood-specific effective property tax rate runs below both the national and New Mexico statewide medians, though the applicable underlying county rate varies by parcel across Edgewood's three counties (base record).
An above-state-average median household income
Edgewood's median household income runs approximately $62,000, cited as running above the New Mexico statewide average, even as most residents commute out of town for work (base record).
New Mexico's real, moderate 5.9% top state income tax
New Mexico's real, current six-bracket graduated income tax (1.5%-5.9%, tax year 2026) applies in Edgewood as statewide, alongside a partial, income-capped Social Security exemption (base record).
New Mexico's real, elevated statewide homeowners insurance
New Mexico's statewide homeowners insurance average runs $3,324-$4,308/year following an 18% statewide rate increase in 2025 -- a real, disclosed cost directly relevant given Edgewood's own wildfire exposure (base record).
Key takeaways
- Edgewood's 0.61% effective property tax rate runs genuinely low relative to national and state medians.
- Edgewood's ~$62,000 median household income runs above the New Mexico statewide average.
- New Mexico's 5.9% top state income tax (2026) and partial Social Security exemption apply in Edgewood as statewide.
- New Mexico's statewide homeowners insurance ($3,324-$4,308/year) is a real, disclosed elevated cost relevant to Edgewood's wildfire exposure.
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