[abruzzi]

I think most of "flyover" country would satisfy you question, but here in New Mexico, you can find a decent apartment for $500/mo (my mortgage on a house with a quarter acre is $800/mo) I'm in the south, but most of northern New Mexico would be similar. You wouldn't be living in the top neighborhoods (though my house is in a historic desirable little town) but despite what you saw on Breaking Bad, nowhere in NM will have bad crime, except some very limited spots.

[Zancarius]

The other advantage is the hiking, sparse desert beauty, the sunsets, and the history if you're into the Wild West sort of thing (beware the rattlesnakes). Also, being in the southern part of NM myself, the military history and influence might be of some interest (Trinity Site comes to mind, but it's now only open once a year). There's also the somewhat embarrassing bits like the UFO museum in Roswell--but we try not to talk about that. ;)

Be aware that it's a lousy state if you ascribe yourself to the "entertain me" culture (living in or near Albuquerque might alleviate that to an extent). But, if you're the outdoorsy type, there's a wide variety of ecosystems ranging from high desert to coniferous forests to explore.

[gtank]

Speaking for northern NM: I was in Albuquerque recently and can't say enough of the hiking nearby. The city actually backs into the Sandia Mountains, which are full of good trails.

If you're into the history, brief drives north or east put you into easily-reachable ghost town territory.

[mark_l_watson]

I also like New Mexico a lot and my wife and I almost moved there 15 years ago when we were looking for an inexpensive place to live that was also fun to live in. We ended up in the mountains of Central Arizona, similar to New Mexico.

We are now living in Silicon Valley for six months because I wanted to do a contracting job here. This is a fun area also but we are blown away by the high cost of living. Sometimes it is very important to have coworkers co-situated, but otherwise let workers live where they want. I am now working with people who spend two hours a day commuting. That is a huge hit in wasted time.