Corrales, Rio Rancho, Los Ranchos De Albuquerque: These cities aren’t just some of the best places to live in New Mexico. They are also home to some of the richest people in the Land of Enchantment.
Corrales in particular houses the richest residents in the state thanks, in part, to a median household income of $94,966 and a ridiculously low poverty rate of 3.386031146767343%.
If you’re thinking of moving to one of these towns, you’ll probably need to start saving. The richest places in New Mexico share common characteristics such as having a genius level populous, sky high home prices, and a Pleasantville level of married couples.
How did we come up with these mega wealthy cities? We analyzed Census data from the 2018-2022 American Community Survey for the 37 places in New Mexico with more than 3,000 people.
Table Of Contents: Top Ten | Methodology | Summary | Table
The 10 Richest Places In New Mexico For 2024
For more on how we calculated the top ten, read on or skip to the end for the full list of the richest cities in New Mexico.
Rich people not your cup of tea? Feel free to check out some more reading about New Mexico:
The 10 Richest Cities In New Mexico For 2024
1. Corrales
/10
Population: 8,495
Median Income: $94,966
Median Home Values: $668,575
More on Corrales: Data | Crime | Cost Of Living | Real Estate
2. Rio Rancho
/10
Population: 104,351
Median Income: $78,978
Median Home Values: $328,616
More on Rio Rancho: Data | Crime | Cost Of Living | Real Estate
3. Los Ranchos de Albuquerque
/10
Population: 5,894
Median Income: $67,747
Median Home Values: $621,423
More on Los Ranchos De Albuquerque: Data | Cost Of Living | Real Estate
4. Edgewood
/10
Population: 6,113
Median Income: $70,568
Median Home Values: $348,936
More on Edgewood: Data | Crime | Cost Of Living | Real Estate
5. Santa Fe
/10
Population: 87,617
Median Income: $67,663
Median Home Values: $571,512
More on Santa Fe: Data | Cost Of Living | Real Estate
6. Bosque Farms
/10
7. Los Lunas
/10
Population: 17,452
Median Income: $68,934
Median Home Values: $298,049
More on Los Lunas: Data | Crime | Cost Of Living | Real Estate
8. Albuquerque
/10
Population: 562,551
Median Income: $61,503
Median Home Values: $321,089
More on Albuquerque: Data | Crime | Cost Of Living | Real Estate
9. Peralta
/10
10. Artesia
/10
Population: 12,632
Median Income: $75,389
Median Home Values: $204,195
More on Artesia: Data | Crime | Cost Of Living | Real Estate
Methodology: How We Determined The Richest Places In New Mexico For 2024
The first thing that comes to most people’s minds when they think about determining the richest places is simply identifying personal incomes. After all, rich people have really high salaries.
However, we don’t believe that one statistic wholly encompasses what it means to be one of the “richest places.” So we looked at this set of criteria from the newly released 2018-2022 American Community Survey and applied Saturday Night Science:
- Median Home Values
- Median Household Income
Median household income is the most digestible way to understand how rich a place is. And home values are a measure of wealth. The two combine to define a “Rich City.”
After we collected the data for all 37 places with more than 3,000 people in New Mexico, we ranked each place from 1 to 37 for each of the criteria, with 1 being the richest.
We then averaged all the rankings for a place into a “Rich Score,” with the place having the lowest overall Rich Score, Corrales, crowned the “Richest City In New Mexico For 2024.”
The data has been updated for 2024. This is our tenth time ranking the wealthiest cities in New Mexico.
You can skip to the end to see the rankings for all 37 places.
Summary: The Wealthiest Places In New Mexico For 2024
Like we said earlier, when we set out to identify the richest places in New Mexico, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in New Mexico.
The richest cities in New Mexico are Corrales, Rio Rancho, Los Ranchos de Albuquerque, Edgewood, Santa Fe, Bosque Farms, Los Lunas, Albuquerque, Peralta, and Artesia.
When you look at the data, the cities and places mentioned above meet the criteria for being at the very top of the income ladder for everyone that lives there.
If you’re curious enough, here are the poorest cities in New Mexico, according to data:
Poorest: Tucumcari
2nd Poorest: Deming
3rd Poorest: Truth or Consequences
For more New Mexico reading, check out:
- Best Places To Raise A Family In New Mexico
- Most Dangerous Cities In New Mexico
- Worst Places To Live In New Mexico
Detailed List Of The Richest Cities In New Mexico
| Rank | City | RichScore | Median Income | Average Home Price |
|---|---|---|---|---|
| 1 | Corrales | 1.0 | $94,966 | $668,575 |
| 2 | Rio Rancho | 5.0 | $78,978 | $328,616 |
| 3 | Los Ranchos De Albuquerque | 5.5 | $67,747 | $621,423 |
| 4 | Edgewood | 6.0 | $70,568 | $348,936 |
| 5 | Santa Fe | 6.5 | $67,663 | $571,512 |
| 6 | Bosque Farms | 8.0 | $67,435 | $402,921 |
| 7 | Los Lunas | 9.5 | $68,934 | $298,049 |
| 8 | Albuquerque | 11.0 | $61,503 | $321,089 |
| 9 | Peralta | 11.5 | $57,711 | $391,053 |
| 10 | Artesia | 12.5 | $75,389 | $204,195 |
| 11 | Carlsbad | 12.5 | $77,209 | $201,720 |
| 12 | Bernalillo | 13.5 | $57,905 | $312,259 |
| 13 | Farmington | 14.5 | $61,388 | $236,143 |
| 14 | Taos | 16.5 | $40,185 | $454,642 |
| 15 | Las Cruces | 16.5 | $51,013 | $281,919 |
| 16 | Lovington | 18.0 | $70,029 | $146,559 |
| 17 | Hobbs | 19.0 | $63,804 | $173,086 |
| 18 | Gallup | 19.5 | $58,358 | $194,750 |
| 19 | Aztec | 20.5 | $45,846 | $226,721 |
| 20 | Bloomfield | 21.0 | $49,442 | $205,766 |
| 21 | Ruidoso | 21.5 | $36,033 | $317,739 |
| 22 | Alamogordo | 22.0 | $50,721 | $200,708 |
| 23 | Eunice | 22.0 | $68,819 | $123,078 |
| 24 | Sunland Park | 22.5 | $45,545 | $211,033 |
| 25 | Belen | 22.5 | $38,838 | $244,505 |
| 26 | Grants | 23.0 | $55,631 | $159,642 |
| 27 | Clovis | 24.0 | $52,983 | $156,608 |
| 28 | Silver City | 24.5 | $36,853 | $220,801 |
| 29 | Socorro | 27.0 | $42,622 | $171,400 |
| 30 | Las Vegas | 27.5 | $39,558 | $186,356 |
| 31 | Anthony | 27.5 | $27,406 | $218,443 |
| 32 | Roswell | 27.5 | $48,298 | $140,780 |
| 33 | Portales | 28.5 | $49,313 | $130,829 |
| 34 | Raton | 30.0 | $40,899 | $138,410 |
| 35 | Truth Or Consequences | 34.5 | $28,685 | $137,945 |
| 36 | Deming | 35.0 | $33,548 | $130,288 |
| 37 | Tucumcari | 35.5 | $34,424 | $75,709 |