Insurance Underwriters Salary
Insurance Underwriters in New Mexico make a median of $64,000 a year, or about $30.77 an hour. The range runs from $47K at the entry level to $107K for experienced workers. Cost of living is below average (RPP 93.06), which stretches that salary to about $68,773 in buying power. Rent on a 2-bedroom averages $1,119/month, or 26.6% of estimated take-home pay.
Statewide average. Salary and cost of living vary significantly across New Mexico. Jump to a metro for precise data:
So what does $64K get you in New Mexico?
About insurance underwriters
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What this looks like in New Mexico
Pay for insurance underwriters in New Mexico runs about 21% below the U.S. median of $81K. Rent runs $1,119/month for a 2-bedroom (HUD FMR), taking 26.2% of the median take-home. That's within the 30% rule, though not by much. Regional Price Parity sits at 93.06 (national = 100), meaning everyday costs run about 7% cheaper here. Your dollar stretches further than the headline salary suggests. Use the affordability calculator above to model your specific situation.
Compensation breakdown
Annual earnings by percentile, New Mexico
Entry-level insurance underwriters (10th percentile) start around $47K. Mid-career wages sit at $64K. Top earners bring in $107K or more, a $60K spread from bottom to top.
Insurance Underwriters salary by metro in New Mexico
1 metro area with BLS data, ranked by median pay
| Metro area | Median salary | vs. state | Employment |
|---|---|---|---|
| Albuquerque | $70K | +10% | 60 |
Compare to other states
Track insurance underwriters salary changes
BLS updates this data quarterly. We'll email you when New Mexico numbers change.
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Frequently asked questions
Can a insurance underwriter afford a 2BR apartment alone in New Mexico?
Yes — at the median salary of $64K, rent takes 26.2% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,119/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for insurance underwriters in New Mexico?
The 10th-percentile wage — what new insurance underwriters typically earn — is $47K/year. Take-home on that works out to about $2,830/month. At HUD’s $1,119/month FMR, rent would take 40% of that take-home — above the 30% guideline, so a 1-bedroom or shared housing is likely necessary starting out.
Is insurance underwriter a high-paying job in New Mexico?
Local pay runs 21% below the national median — $64K here vs. $81K nationally. Cost of living is 7% below the national average, which narrows that gap in real purchasing power.
How does New Mexico compare to the national average for insurance underwriters?
New Mexico pays $64K median vs. the U.S. average of $81K — that’s -21%. After adjusting for local cost of living (RPP 93.06), the purchasing-power equivalent is $69K — below the national median.
How much do insurance underwriters make in New Mexico?
The median is $64,000 a year, that works out to about $31 an hour. But the range is wide: entry-level workers start around $47,170, and experienced insurance underwriters can clear $106,680. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $64K enough to live in New Mexico?
On that salary, you'd take home roughly $4,272/month after taxes. A 2-bedroom here rents for about $1,119/month, which eats 26.2% of your paycheck. That's under the 30% guideline most financial planners use, so the numbers work.
How far does a insurance underwriters salary go in New Mexico?
New Mexico has a Regional Price Parity of 93.06 (100 is the national average). That's below average, your money stretches further here than the raw salary number suggests. After cost-of-living adjustment, the median insurance underwriters salary is worth about $68,773 in national-average purchasing power.
Where do insurance underwriters get paid the most?
The table above ranks every state by median pay for this role. Keep in mind that the highest-paying states tend to have the highest costs of living, so the top salary doesn't always mean the most money in your pocket.