6 Pros and Cons of Retiring in New Mexico (2020)

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New Mexico has become quite a popular destination for retirees for a lot of different reasons. For those looking to settle down in a less crowded state that is rich in culture and beautiful landscapes, you may want to consider New Mexico. But before you pack your bags, you should know both the pros and cons of retiring in this location.

There are pros and cons to retiring in New Mexico. Some of the pros include the low cost of living, and there is plenty to see as far as beautiful and luscious landscapes go. As for the cons, New Mexico is known to have poor quality roads and bad traffic as well as a high crime rate.

In this article, we will explore the pros as well as the cons of settling down and retiring in New Mexico. If you are interested in learning more about this topic, keep on reading.

Pros of Retiring in New Mexico

We will first discuss some of the most popular and beneficial reasons for retiring in New Mexico. After reading the points we will be making below, it will be clear to see why New Mexico is such a great destination for those looking to settle down and enjoy retirement.

The Cost of Living Is Low

New Mexico is well known for its low costing of living, which is 3.1% lower than the average in the United States. Compared to many other popular retirement states, the cost of living in New Mexico is quite low.

This applies to a lot of different factors, such as housing, transportation, and groceries. Depending on what city you plan on residing in, some New Mexico cities have such a low cost of living that retiring while only receiving money solely from Social Security is achievable.

You can even narrow your search to some of the most affordable and cost-friendly counties in New Mexico. For those who may be receiving less income during retirement, this may be an ideal spot for you.

New Mexico Has Beautiful Landscapes

Known as the “Land of Enchantment,” New Mexico has a lot to offer its residents in terms of beautiful outdoor scenery and adventure. If you are an outdoorsy type of person, New Mexico is rich in beautiful lakes, mountains, and greenery that will likely pique your interest.

If you are interested in skiing, fishing, or even camping, New Mexico has plenty of popular locations open to residents who are interested in these kinds of activities. From state parks to beautiful trails and bodies of water and even iconic ghost towns, there is something for everyone, no matter what you are interested in.

For retirees looking to remain active and immerse themselves in the beautiful, great outdoors, New Mexico may be a great place for you.

The Warm Climate

In New Mexico, residents enjoy a very pleasant and continental climate while also experiencing all four seasons. With up to 300 days of sunshine per year, retirees can enjoy sunny days in the summer and a decent amount of snow in the winter.

New Mexico also experiences very little precipitation per year, making it a very warm and outdoor-activity-friendly state. While the U.S in total experiences 38 inches (97 cm) of rain every year, New Mexico only experiences 11 inches (28 cm) of rain per year.

During the warmer summer months, you will find New Mexico experiencing temperatures around 95 °F (35 °C) while experiencing lows of 27 °F (-2.8 °C) during the coldest winter months. On average, you will find around 2 inches (5 cm) snowfall in New Mexico every year in the winter.

If you are looking to settle down in an environment that is warm and comfortable while simultaneously experiencing all four seasons, New Mexico may be the perfect place for you.

Cons of Retiring in New Mexico

Now that we have discussed a handful of pros involved in retiring in New Mexico, let us discuss some of the potential cons involved. While it is clear to see that retiring in this location has its perks, it is ideal to be aware of possible disadvantages that may end up being deal-breakers for some.

Bad Traffic and Roads

It has been estimated that 30% of New Mexico’s rural roads are in poor condition, with 6% of their bridges also falling into that category, being labeled as structurally deficient.

This creates issues for many different people, from workers who use these roads to transport products every day to travelers and even everyday residents. Another problem with roads that remain in poor conditions is that they increase the risk of crashes, which not only endanger those who drive on these roads but also increases delays and congestion.

Based on these conditions, it is clear to see how New Mexico ranks as third in having the worst rural roads in the nation. This location is also home to the most dangerous road in the United States, known as the “Devil’s Highway.”

It is crucial to be aware of these factors before you consider retiring in an area such as New Mexico. The poor and even dangerous conditions of some of the bridges and roads you may travel on can definitely be a deal-breaker for some.

The High Crime Rate

Earlier, we discussed how the cost of living in this location is lower than the national average. Unfortunately, it seems to be the exact opposite in terms of crime, seeing how New Mexico’s crime rate is over 3% higher than the national average.

Property crimes are known to be the highest reported crime in New Mexico as of 2020, according to a study done by SafeWise. The same study reports that 42% of the residents fear for their safety, with this concern being close to the 46% national average.

Seeing how the crime rate is exceedingly high, especially when compared to the national average, it is clear to see how this factor would make some retirees steer clear of this area.

The High Altitude Can Be a Challenge

The last con has to do with New Mexico’s high altitude, which can be a large adjustment for some. For those who currently live within low altitude environments, moving into high altitude can cause altitude sickness.

While this only takes a few weeks to become accustomed to, it is a factor you should be aware of if you are relocating from low to high altitudes. While the high altitude can be beneficial to others’ health and well-being, some may prefer lower altitudes in order to protect their breathing.

This is another factor to be mindful of beforehand, especially for those who currently reside within lower altitudes.

Conclusion

In this article, we explored three pros and three cons of retiring in New Mexico.

As for the pros, the cost of living is relatively low compared to the national average, which may be favorable to those who do not have too large of an income coming in during retirement. This is also an ideal state for those who are fans of getting outdoors and exploring beautiful landscapes.

As for the cons, New Mexico’s poor roads and high crime rates can definitely be a deal-breaker for some. The high altitude that New Mexico sits at may also not be for everyone, so it is important to be mindful of that.

Hopefully, this article gives you a better understanding of what retiring in New Mexico may look like for you. Before you begin packing your bags, it is ideal to look into both the pros and cons of any location.

6 Pros and Cons of Retiring in New Mexico