Many or all of the companies featured provide compensation to LendEDU. These commissions are how we maintain our free service for consumers. Compensation, along with hours of in-depth editorial research, determines where & how companies appear on our site.
Admitted as the 47th state into the United States in 1912, New Mexico is rich with history, culture, and pride.
Although New Mexico is the fifth largest state in the U.S. by area, it is only the 36th most populous and the sixth-least densely populated. This gives residents of New Mexico plenty of room to have sprawling properties at relatively low prices.
Amongst the most prosperous economic sectors in the Land of Enchantment are oil and gas production, tourism, and federal government spending. New Mexico’s yearly Gross Domestic Product usually hovers somewhere around $85 billion.
New Mexico is the third largest producer of crude oil and natural gas in the U.S. Roughly 10 percent of all natural gas produced in the U.S. comes from within the boundaries of New Mexico. Because there are three air force bases, a missile testing range, and an army testing ground in New Mexico, the federal government not only provides plenty of jobs to residents, but also spends serious cash in New Mexico. In fact, New Mexico State University estimated that 11.65 percent of New Mexico’s total employment derives from military spending.
The Land of Enchantment also offers some irresistible economic incentives to businesses thinking about setting up shop in the state. According to state law, local governments are able to provide land, buildings, and infrastructure to businesses to promote job creation.
So, how have these economic conditions impacted the people of New Mexico? Are they giving people jobs and putting money in their pockets? LendEDU sought to discover the answer to that question by evaluating each and every community in New Mexico according to their average credit score.
By licensing Experian’s Premier Aggregated Credit StatisticsSM dataset, LendEDU has ranked the 100 towns and cities in New Mexico with the highest average credit scores. High credit scores means people are fiscally healthy; it means they are building their income and paying off loan debts.
>> Read More: What is a good credit score?
Below, you will find 100 New Mexico towns ranked according to their average credit score. While New Mexico has more than 100 communities, the ones you see in this report posted the highest credit scores and are the most fiscally healthy communities.
Interactive Map and Table Featuring the Highest Credit Scores in New Mexico
All of the data that can be found in this report was licensed by LendEDU from Onboard Informatics and Experian. The dataset provided by Onboard Informatics was utilized to find the most recent population figures and to find the locations of New Mexico towns and cities. Experian’s Premier Aggregated Credit StatisiticsSM dataset was put to use to find the average VantageScore 3.0®1 credit score of each and every town and city in New Mexico.
A population cutoff was established at 1,000, meaning that any New Mexico community that had a population below LendEDU’s arbitrary cutoff was eliminated from further analysis. Some of the biggest cities in New Mexico, like Santa Fe, had multiple ZIPTM2 codes and thus multiple average credit scores. To consolidate a larger city’s ZIP codes into one statistic, ZIP codes were weighted according to population and then averaged together. A ZIP CodeTM with a greater population was given more weight during the averaging process.
Finally, after each city was assigned one ZIP Code and one average VantageScore 3.0® credit score, LendEDU ranked the communities accordingly. Experian PACSSM dataset lists the average VantageScore 3.0®credit score as a stand-alone statistic. New Mexico towns and cities with a higher average credit score were ranked higher and vice versa.
See more of LendEDU’s Research
1. VantageScore is a registered trademark of VantageScore Solutions, LLC.
2. Experian is a nonexclusive full-service provider licensee of the United States Postal Service. The following trademarks are owned by the United States Postal Service: ZIP and ZIP Code. The price for Experian’s services is not established, controlled or approved by the United States Postal Service.
Author: Mike Brown