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Average Carpenters Salary in New Mexico

Carpenters in New Mexico earn an average annual salary of $53,560, which is below the national average of $64,010. This disparity is often influenced by regional economic factors, the demand for skilled trades, and the overall cost of doing business within the state. Understanding these local dynamics is key to assessing carpenter compensation in New Mexico.

Executive Summary

  • Average Salary: $53,560 per year.
  • Growth Trend: Salaries have shifted 26.6% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $75,250.
  • Outlook: With a total local workforce of 3,220 Carpenters, New Mexico supports a significant number of professionals in this trade. The Location Quotient of 0.83 indicates a slightly lower concentration of Carpenters compared to the national average. This suggests a stable, though not exceptionally high, demand for carpentry services within the state's economy.
2024 Market Data

Salary Overview

$53,560

The average Carpenters in New Mexico earns-16.3%below the national average.

BreakdownBased on 40h/week
Hourly

$25.8

Weekly

$1,030

Monthly

$4,463

Carpenters Salary Distribution in New Mexico

Carpenter salaries in New Mexico, like elsewhere, typically scale with experience. Entry-level positions will command lower wages, while seasoned professionals with specialized skills and a proven track record can expect significantly higher compensation. The difference between entry-level and senior roles often reflects a substantial pay increase, highlighting the value of accumulated expertise and career progression within the carpentry field.

Experience LevelMarket PercentileAnnual WageHourly Rate
ApprenticeLearning trade under supervision. Classroom + OJT.10% (Entry)$37,160$17.9
JourneymanLicensed/Certified. Works independently on standard tasks.25% (Junior)$40,170$19.3
Senior TechnicianHandles complex installations & troubleshooting.50% (Median)$52,010$25
Foreman / MasterSupervises crews, handles permits & code compliance.75% (Senior)$66,950$32.2
SuperintendentSite management, business owner, or master tradesman.90% (Expert)$75,250$36.2

Detailed Carpenters Market Analysis

Relocation Context

Nominal Salary

$53,560

Gross Pay

Real Wage (Purchasing Power)

$59,777

Adjusted for COL (89.6)

The average Carpenter salary of $53,560 in New Mexico is positioned against a Cost of Living Index of 89.6, which is below the national average of 100. This means that despite earning less in nominal terms than the national average, the purchasing power of a Carpenter's salary in New Mexico is relatively stronger due to the lower cost of goods and services.

Job Market Context

3,220

Total Jobs

3.743

Per 1K Jobs

0.83

Location Quotient

Below Average

New Mexico has 0.83x the national average concentration of Carpenters jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.

A Location Quotient of 0.83 for Carpenters in New Mexico suggests that the profession is slightly less concentrated than the national average. This implies that while there is a steady presence of carpenters, the market may not be oversaturated, potentially offering good opportunities for skilled individuals entering or already established in the state's workforce.

Nearby Job Markets

Nearby Cities for Carpenters

CitySalaryDist.
Albuquerque, NM Carpenters Salary$54,940↑ 3%29 mi
Santa Fe, NM Carpenters Salary$52,900↓ 1%59 mi

Comparing salaries near New Mexico

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Frequently Asked Questions

How much does a Carpenters make in New Mexico?

The median annual salary for a Carpenters in New Mexico is $53,560. This typically ranges from $37,160 for entry-level positions to $75,250 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in New Mexico is 16.3% lower than the national median of $64,010.

Is New Mexico a lucrative place for Carpenters?

No, but cost of living offers value.While the average salary of $53,560 is below the national average, New Mexico's lower cost of living (89.6) means that this salary offers relatively good purchasing power.

Is New Mexico a good place to live for Carpenters?

With a Cost of Living Index of 89.6 (lower than the national average of 100), your salary goes further here.

Where are the highest paying cities near New Mexico?

Some top paying nearby cities include Albuquerque, NM ($54,940) and Santa Fe, NM.

How does the number of jobs per 1,000 workers compare nationally?

New Mexico has 3.743 jobs per 1,000 workers for Carpenters, which is slightly below the national average, indicating a moderate level of employment density for the trade.

What is the significance of the Location Quotient (LQ) for Carpenters in New Mexico?

An LQ of 0.83 means that Carpenters are employed in New Mexico at a rate that is 83% of the national average. This suggests a slightly lower concentration of the profession compared to the rest of the country.

How does the cost of living affect a Carpenter's take-home pay in New Mexico?

With a Cost of Living Index of 89.6, expenses in New Mexico are generally lower than the national average. This can make the $53,560 salary stretch further, improving the effective value of earnings.

Is the demand for Carpenters high in New Mexico?

The demand appears moderate. The number of jobs per 1,000 workers and the Location Quotient suggest a stable market rather than one experiencing exceptionally high demand.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 3,220 employees in the New Mexico area with a job density of 3.743 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Carpenters • Data source: BLS OEWS 2024 •Jobs in New Mexico