Rio Rancho, NM Cost Of Living
Cost Of Living In Rio Rancho, NM Summary
Cost of living in Rio Rancho 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 Rio Rancho 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 Rio Rancho is 94, with 100 being the average.
The cost of living index in Rio Rancho is 0.9x lower than the national average.
Rio Rancho ranks as the #33 cheapest in New Mexico out of 44.
Rio Rancho ranks as the #2,290 cheapest out of 6,412 in the US.
The median home value in Rio Rancho is $211,300.
The median income in Rio Rancho is $70,615.
Table Of Contents
Rio Rancho's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Rio Rancho, NM?
According to the most recent data on the cost of living, Rio Rancho has an overall cost of living index of 94, which is 0.9x lower than the national index of 100.
Compared to New Mexico, Rio Rancho has a cost of living index that's 1.0x lower than New Mexico's index of 94.
The standard of living in Rio Rancho ranks as #33 most affordable out of the 44 places we measured in New Mexico. By definition, that implies Rio Rancho ranks as the #11 most expensive place in the Land of Enchantment.
For more reading on life in Rio Rancho, check out:
- Living In Rio Rancho
- Rio Rancho Crime Report
- Search Homes For Sale In Rio Rancho, NM
In New Mexico
In America
Rio Rancho Cost Of Living Vs. New Mexico
Six factors go into calculating the cost of living index in Rio Rancho. Here is how it fairs on each of the criteria:
The Services index in Rio Rancho is 87.
The Groceries index in Rio Rancho is 95.
The Health index in Rio Rancho is 97.
The Housing index in Rio Rancho is 100.
The Transportation index in Rio Rancho is 87.
The Utilities index in Rio Rancho is 94.
| Living Expense | Rio Rancho | New Mexico | National Average | |
|---|---|---|---|---|
| Overall | 94 | 94 | 100 | |
| Services | 87 | 97 | 100 | |
| Groceries | 95 | 96 | 100 | |
| Health | 97 | 100 | 100 | |
| Housing | 100 | 88 | 100 | |
| Transportation | 87 | 96 | 100 | |
| Utilities | 94 | 91 | 100 | |
Rio Rancho, 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 Rio Rancho is $211,300.
The Median Rent in Rio Rancho is $1,181.
The Median Income in Rio Rancho is $70,615.
The Home Value To Income in Rio Rancho is 3.0x.
The Rent To Monthly Income in Rio Rancho is 0.2x.
| Statistic | Rio Rancho | New Mexico | United States |
|---|---|---|---|
| Median Home Value | $211,300 | $184,800 | $244,900 |
| Median Rent | $1,181 | $897 | $1,163 |
| Median Income | $70,615 | $54,020 | $69,021 |
| Home Value To Income | 3.0x | 3.4x | 3.5x |
| Rent To Monthly Income | 0.2x | 0.2x | 0.2x |
Median Home Value
Median Rent
Median Income
Rio Rancho, NM Costs By Category
Detailed Rio Rancho Services Costs Vs. New Mexico
| Item | Rio Rancho | New Mexico |
|---|---|---|
| Shampoo | $0.92 | $1.06 |
| Movie | $9.5 | $10.68 |
| Bowling | $11.2 | $14.67 |
| Haircut | $18.38 | $18.62 |
| Beauty Salon | $35.53 | $39.05 |
Detailed Rio Rancho Groceries Costs Vs. New Mexico
| Item | Rio Rancho | New Mexico |
|---|---|---|
| Ground Beef | $4.9 | $4.22 |
| Fried Chicken | $1.11 | $1.39 |
| Milk | $1.96 | $2.05 |
| Potatoes | $3.05 | $3.29 |
| Pizza | $9.67 | $10.62 |
| Beer | $8.22 | $9.38 |
| Toothpaste | $2.79 | $2.34 |
Detailed Rio Rancho Health Costs Vs. New Mexico
| Item | Rio Rancho | New Mexico |
|---|---|---|
| Optometrist | $118.86 | $108.57 |
| Doctor | $127.67 | $116.17 |
| Dentist | $86.56 | $99.13 |
Detailed Rio Rancho Transportation Costs Vs. New Mexico
| Item | Rio Rancho | New Mexico |
|---|---|---|
| Gasoline | $1.97 | $2.22 |
| Tire Balancing | $40.79 | $50.07 |
Detailed Rio Rancho Utilities Costs Vs. New Mexico
| Item | Rio Rancho | New Mexico |
|---|---|---|
| All Electricity | $150.01 | $167.67 |
| Phone | $183.97 | $175.64 |
Rio Rancho SnackAbility
/10
Cost Of Living In Cities Around Rio Rancho
The cost of living varies in the cities and towns around Rio Rancho. Here's a quick look at the cost of living in the most populous nearby places:
Albuquerque, NM has a cost of living index of 98, 1.0x Rio Rancho.
South Valley, NM has a cost of living index of 88, 0.9x Rio Rancho.
North Valley, NM has a cost of living index of 96, 1.0x Rio Rancho.
| City | Population | Cost Of Living | Vs. Rio Rancho |
|---|---|---|---|
| Albuquerque, NM | 562,336 | 98 | 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 | 1.3x |
| Los Ranchos de Albuquerque, NM | 5,904 | 108 | 1.1x |
