Albuquerque, NM Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

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

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
98
Albuquerque's Overall Cost Of Living
1.0x
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:

37 out of 44
In New Mexico
2,890 out of 6,412
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
For more reading on cost of living around New Mexico, check out:
Albuquerque Cost of Living Vs. NM

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
Search Homes For Sale In Albuquerque, NM
$214,600
Median Home Value
$932
Median Rent
$56,366
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

6
/10
Overall SnackAbility
Jobs
6/10
Housing
8
Affordability
6
Diversity
9.5
Safety
2
Amenities
9.5
Education
8
Commute
8

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

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