NAICS 44-45

Retail Trade in Santa Fe, NM

Metro Market Score 70.8 (Difficult), ranked #342 of 378 metros. 738 establishments, 8,246 jobs.

Metro Market Score 70.8

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Difficult

ⓘ Lower is better. Relative to national retail trade average.

💰High-Cost Market⚡Rising Wages

Wage costs in Santa Fe's retail trade sector are well above the metro average, with wage competitiveness at 78.6 and rising pressure at 74.6. New entrants should factor higher labor costs into their financial projections for this market.

Industry Concentration

86.5

LQ: 1.34

Rank #327 of 378 metros

Wage Competitiveness

78.6

$41,135 avg wage

Growth Trend

51.3

Employment growth index

Rank #185 of 378 metros

Wage Pressure

74.6

YoY wage change index

738 Retail Trade Firms in Santa Fe

738

Establishments

+1.2% YoY

8,246

Total Employment

-0.2% YoY

$41,135

Average Annual Wage

+2.5% YoY

1.34

Location Quotient

Above national avg

Within New Mexico

#4 of 4

retail trade metros in state

New Mexico state rank

#11 of 51

for retail trade entry risk

vs State Median

+15.5

worse than median (55.3)

Santa Fe vs New Mexico Statewide

How this metro's retail trade market compares to New Mexico overall. The state ranks #11/51 for entry risk.

Measure	Santa Fe	NM Statewide
Overall Score	70.8 Difficult	39.9 Moderate
Score Type	Metro Market Score	Entry Risk Score
Rank	#342 of 378 metros	#11 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Santa Fe

Construction 44.1 Information 46.2 Healthcare and Social Assistance 50.8 Real Estate and Rental and Leasing 54.3 Administrative and Support Services 55.3 Finance and Insurance 56.3 Professional, Scientific, and Technical Services 59.9 Accommodation and Food Services 66.3 Other Services 91.6

Retail Trade in Other New Mexico Metros

Las Cruces 26.0 #5/378 Albuquerque 55.2 #200/378 Farmington 55.3 #201/378

Retail Trade Metros With Similar Conditions

Metros within 5 points of Santa Fe's 70.8 score. Useful when comparing markets with comparable entry profiles.

Rapid City, SD 70.8 #343/378 Lafayette, LA 71.2 #344/378 Beaumont-Port Arthur, TX 71.2 #345/378 Oxnard-Thousand Oaks-Ventura, CA 70.2 #341/378 Logan, UT 70.1 #340/378 New Haven, CT 71.5 #346/378 Hot Springs, AR 71.6 #347/378 New York-Newark-Jersey City, NY 70.0 #339/378 Bozeman, MT 70.0 #338/378 Wenatchee-East Wenatchee, WA 69.9 #337/378

Retail Trade in States Bordering New Mexico

State-level entry risk for retail trade in adjacent states. Use this to weigh cross-border options.

Utah 40.3 #13/51 Texas 41.6 #17/51 Colorado 42.9 #23/51 Arizona 44.9 #32/51 Oklahoma 46.3 #35/51

Browse Retail Trade in Other States

State-level entry risk reports for retail trade across all 51 markets, sorted by rank.

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Santa Fe's retail trade sector, the industry concentration component (86.5) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Santa Fe, NM MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment