Social Security in New Mexico: 2027 COLA, Average Benefit, SSI & Taxes
New Mexico by the numbers
| Measure | New Mexico |
|---|---|
| Average retired-worker benefit (Dec 2024) | $1,865/mo |
| Estimated 2027 average after the 3.6% COLA | about $1,932/mo |
| Rank by average benefit (50 states + DC) | #48 of 51 |
| Retired workers receiving benefits | 355,954 |
| All Social Security beneficiaries in New Mexico | 476,894 |
| Total benefits paid in New Mexico, 2024 (all programs) | $9.7 billion |
Source: SSA Annual Statistical Supplement 2025, Tables 5.J1, 5.J2 and 5.J4 (December 2024). The average is total retired-worker benefits divided by the number of retired workers; the 2027 figure applies the 3.6% COLA to that average and is an estimate — individual benefits vary widely around it. National comparison and every other state: Social Security by state.
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SSI in New Mexico
Administered by the state. New Mexico runs its own supplement program: applying for SSI does not by itself start the supplement, you apply through the state agency, and it is paid separately from the federal SSI payment.
Amount: New Mexico sets its own supplement amounts, which vary by eligibility category and living arrangement. SSA does not publish a single standard figure for state-administered programs, so check the current amount with your state agency before budgeting around it. How every state compares: SSI state supplements.
The federal part is the same everywhere: a 2027 maximum of $1,029 (individual) / $1,544 (couple), first increased payment December 31, 2026. Federal amounts by living arrangement are on the SSI calculator and dates on the SSI payment schedule.
Does New Mexico tax Social Security benefits?
Yes — New Mexico is one of the eight states that still tax Social Security benefits in 2027. New Mexico exempts benefits for AGI up to $100,000 (single) / $150,000 (joint) — which covers most New Mexico retirees (the state estimates about 86% of seniors). Above the caps, the federally taxable portion is taxed.
All eight states compared: states that tax Social Security benefits. Thresholds are adjusted periodically — confirm your filing-year figures with the New Mexico revenue agency.
Frequently asked questions
What is the average Social Security benefit in New Mexico?
$1,865 a month for a retired worker, from the SSA's December 2024 data — ranked #48 of the 50 states and DC. With the 3.6% COLA the 2027 average is about $1,932. An average reflects a lifetime of earnings and claiming ages in the state; your own amount depends on your record.
Does New Mexico tax Social Security benefits?
Yes. Exempt below $100k / $150k AGI. New Mexico exempts benefits for AGI up to $100,000 (single) / $150,000 (joint) — which covers most New Mexico retirees (the state estimates about 86% of seniors). Above the caps, the federally taxable portion is taxed.
Does New Mexico add a supplement to SSI?
Yes. New Mexico runs its own supplement program, paid separately from the federal SSI payment. Amounts vary by living arrangement — check with the state agency for the current figure.
When does the 2027 COLA arrive in New Mexico?
On the same federal schedule as everywhere else — the COLA does not vary by state. SSI's first increased payment arrives December 31, 2026, and Social Security's January 2027 payments arrive on the usual birth-date Wednesdays (January 13, 20 and 27), with exact amounts in your December COLA notice.
Sources: SSA Annual Statistical Supplement 2025 (§5.J state tables); SSA SSI state supplementation tables and A Guide to SSI for Groups and Organizations (Jan 2026); New Mexico revenue-department rules as published for the most recent tax year. Benefit figures are estimates; your SSA notice is the official amount.