About Santa Fe, New Mexico

Santa Fe, New Mexico, is a vibrant community characterized by a diverse economy, a skilled workforce, and a rich cultural heritage. Understanding the local economic landscape is crucial for businesses and investors considering opportunities in the area. Below is an overview of key community and economic statistics that highlight Santa Fe’s potential:

Population and Workforce

  • Total Population: Approximately 153,632 residents. 

  • Labor Force: The county boasts a labor force of 76,695 individuals, with an unemployment rate of 3.5%, indicating a stable employment environment. 

Income and Spending

  • Median Household Income: Households in Santa Fe County earn a median annual income of $77,324, reflecting a relatively affluent community with disposable income potential. 

Business Environment

  • Total Establishments: The county is home to 11,351 businesses, indicating a robust and diverse economic base. 

  • Top Employment Sectors:

  • Accommodation and Food Services: 9,121 jobs across 629 establishments.

  • Public Administration: 8,694 jobs within 166 establishments.

  • Health Care and Social Services: 8,556 jobs spanning 1,141 establishments.

  • Retail: 8,430 jobs across 1,108 establishments. 

Commercial Real Estate Market

  • Industrial Space: As of the third quarter of 2024, Santa Fe’s industrial market had an available rate of 0.77%, with a market rent averaging $11.65 per square foot. 

  • Office and Retail Spaces: The largest share of commercial real estate space for lease in Santa Fe is represented by office space, accounting for 27,834 square feet of available listings. Industrial space available adds up to 22,570 square feet. 

Economic Development Initiatives

Santa Fe County actively promotes economic growth through various initiatives:

  • Infrastructure Development: Efforts focus on expanding broadband access, improving transportation networks, and supporting sustainable development to enhance the business climate.

  • Business Support Programs: The county offers resources for business expansion, including assistance with site selection, workforce training, and navigating regulatory processes.

These statistics and initiatives underscore Santa Fe’s commitment to fostering a thriving economic environment, making it an attractive location for business operations and investments.

 

Talk to a Commercial Expert

Whether you're looking to expand your portfolio or secure a strategic lease, we offer insight-driven support backed by decades of Santa Fe market experience. Reach out now to take the next step.

Contact
Beach houses on sunset