Albuquerque, NM Cost Of Living
Cost Of Living In Albuquerque, NM Summary
Cost of living in Albuquerque research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Albuquerque is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in New Mexico, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Albuquerque is 98, with 100 being the average.
The cost of living index in Albuquerque is 1.0x lower than the national average.
Albuquerque ranks as the #37 cheapest in New Mexico out of 44.
Albuquerque ranks as the #2,890 cheapest out of 6,412 in the US.
The median home value in Albuquerque is $214,600.
The median income in Albuquerque is $56,366.
Table Of Contents
Albuquerque's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Albuquerque, NM?
According to the most recent data on the cost of living, Albuquerque has an overall cost of living index of 98, which is 1.0x lower than the national index of 100.
Compared to New Mexico, Albuquerque has a cost of living index that's 1.0x higher than New Mexico's index of 94.
The standard of living in Albuquerque ranks as #37 most affordable out of the 44 places we measured in New Mexico. By definition, that implies Albuquerque ranks as the #7 most expensive place in the Land of Enchantment.
For more reading on life in Albuquerque, check out:
- Living In Albuquerque
- Albuquerque Crime Report
- Search Homes For Sale In Albuquerque, NM
In New Mexico
In America
Albuquerque Cost Of Living Vs. New Mexico
Six factors go into calculating the cost of living index in Albuquerque. Here is how it fairs on each of the criteria:
The Services index in Albuquerque is 95.
The Groceries index in Albuquerque is 98.
The Health index in Albuquerque is 95.
The Housing index in Albuquerque is 98.
The Transportation index in Albuquerque is 87.
The Utilities index in Albuquerque is 98.
| Living Expense | Albuquerque | New Mexico | National Average | |
|---|---|---|---|---|
| Overall | 98 | 94 | 100 | |
| Services | 95 | 97 | 100 | |
| Groceries | 98 | 96 | 100 | |
| Health | 95 | 100 | 100 | |
| Housing | 98 | 88 | 100 | |
| Transportation | 87 | 96 | 100 | |
| Utilities | 98 | 91 | 100 | |
Albuquerque, NM Housing Cost Breakdown
Housing swings affordability the most between places in New Mexico, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Albuquerque is $214,600.
The Median Rent in Albuquerque is $932.
The Median Income in Albuquerque is $56,366.
The Home Value To Income in Albuquerque is 3.8x.
The Rent To Monthly Income in Albuquerque is 0.2x.
| Statistic | Albuquerque | New Mexico | United States |
|---|---|---|---|
| Median Home Value | $214,600 | $184,800 | $244,900 |
| Median Rent | $932 | $897 | $1,163 |
| Median Income | $56,366 | $54,020 | $69,021 |
| Home Value To Income | 3.8x | 3.4x | 3.5x |
| Rent To Monthly Income | 0.2x | 0.2x | 0.2x |
Median Home Value
Median Rent
Median Income
Albuquerque, NM Costs By Category
Detailed Albuquerque Services Costs Vs. New Mexico
| Item | Albuquerque | New Mexico |
|---|---|---|
| Shampoo | $1.0 | $1.06 |
| Movie | $11.05 | $10.68 |
| Bowling | $14.51 | $14.67 |
| Haircut | $19.67 | $18.62 |
| Beauty Salon | $39.81 | $39.05 |
Detailed Albuquerque Groceries Costs Vs. New Mexico
| Item | Albuquerque | New Mexico |
|---|---|---|
| Ground Beef | $4.57 | $4.22 |
| Fried Chicken | $1.16 | $1.39 |
| Milk | $2.1 | $2.05 |
| Potatoes | $3.62 | $3.29 |
| Pizza | $9.99 | $10.62 |
| Beer | $7.96 | $9.38 |
| Toothpaste | $2.83 | $2.34 |
Detailed Albuquerque Health Costs Vs. New Mexico
| Item | Albuquerque | New Mexico |
|---|---|---|
| Optometrist | $108.12 | $108.57 |
| Doctor | $106.93 | $116.17 |
| Dentist | $98.97 | $99.13 |
Detailed Albuquerque Transportation Costs Vs. New Mexico
| Item | Albuquerque | New Mexico |
|---|---|---|
| Gasoline | $1.85 | $2.22 |
| Tire Balancing | $49.48 | $50.07 |
Detailed Albuquerque Utilities Costs Vs. New Mexico
| Item | Albuquerque | New Mexico |
|---|---|---|
| All Electricity | $155.29 | $167.67 |
| Phone | $183.94 | $175.64 |
Albuquerque SnackAbility
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Cost Of Living In Cities Around Albuquerque
The cost of living varies in the cities and towns around Albuquerque. Here's a quick look at the cost of living in the most populous nearby places:
Rio Rancho, NM has a cost of living index of 94, 1.0x Albuquerque.
South Valley, NM has a cost of living index of 88, 0.9x Albuquerque.
North Valley, NM has a cost of living index of 96, 1.0x Albuquerque.
| City | Population | Cost Of Living | Vs. Albuquerque |
|---|---|---|---|
| Rio Rancho, NM | 102,403 | 94 | 1.0x |
| South Valley, NM | 36,583 | 88 | 0.9x |
| North Valley, NM | 12,594 | 96 | 1.0x |
| Bernalillo, NM | 9,049 | 85 | 0.9x |
| Corrales, NM | 8,488 | 120 | 1.2x |
| Los Ranchos de Albuquerque, NM | 5,904 | 108 | 1.1x |
