New Mexico savings rates are currently 1.15% APY — at or below the national average of 1.2% APY. Online banks typically offer significantly higher rates than the branch average shown here. Data as of January 2026.
High-yield savings account average rate. Source: FDIC National Rate.
ℹ️ Public Data Data sourced from FDIC National Rate. Last updated January 2026.
| Metric | New Mexico | National Avg |
|---|---|---|
| Cost of Living | Rank #34 / 50 | Rank #25 |
| Estate Planning Costs | $800-$2,000 | $1,000-$3,000 |
| Financial Advisor Costs | $150-$250/hr | $200-$300/hr |
| Income Tax Rates | 5.90% | 5.0% |
| Mortgage Rates | 4.88% | 5.0% |
| Savings Rates | 1.15% APY | 1.2% APY |
| Tax Preparation Costs | $150–$350 | $220 |
Data as of January 2026. Sources: Freddie Mac, FDIC, Tax Foundation, MERIC.
| State | Savings Rates |
|---|---|
| Alabama | 1.20% APY |
| Alaska | 1.30% APY |
| Arizona | 1.15% APY |
| Arkansas | 1.18% APY |
| California | 1.05% APY |
| Colorado | 1.20% APY |
| Connecticut | 1.40% APY |
| Delaware | 1.22% APY |
| Florida | 1.10% APY |
| Georgia | 1.12% APY |
| Hawaii | 0.95% APY |
| Idaho | 1.18% APY |
| Illinois | 1.25% APY |
| Indiana | 1.16% APY |
| Iowa | 1.22% APY |
| Kansas | 1.20% APY |
| Kentucky | 1.15% APY |
| Louisiana | 1.12% APY |
| Maine | 1.30% APY |
| Maryland | 1.25% APY |
| Massachusetts | 1.35% APY |
| Michigan | 1.20% APY |
| Minnesota | 1.28% APY |
| Mississippi | 1.15% APY |
| Missouri | 1.18% APY |
| Montana | 1.22% APY |
| Nebraska | 1.20% APY |
| Nevada | 1.10% APY |
| New Hampshire | 1.32% APY |
| New Jersey | 1.40% APY |
| → New Mexico | 1.15% APY |
| New York | 1.35% APY |
| North Carolina | 1.15% APY |
| North Dakota | 1.22% APY |
| Ohio | 1.20% APY |
| Oklahoma | 1.15% APY |
| Oregon | 1.20% APY |
| Pennsylvania | 1.25% APY |
| Rhode Island | 1.32% APY |
| South Carolina | 1.12% APY |
| South Dakota | 1.20% APY |
| Tennessee | 1.10% APY |
| Texas | 1.12% APY |
| Utah | 1.18% APY |
| Vermont | 1.30% APY |
| Virginia | 1.22% APY |
| Washington | 1.20% APY |
| West Virginia | 1.15% APY |
| Wisconsin | 1.25% APY |
| Wyoming | 1.20% APY |
Knowing your savings rate is step one. Our free AI Retirement Projector shows exactly how much you need to save in New Mexico based on your age, income, and goals — with a personalized action plan.
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