Richest Cities In New Mexico For 2020


We analyzed 33 places in New Mexico to determine where the 1% live.

Editor’s Note: Data has been updated for 2020. This is our fifth time ranking the richest cities in New Mexico.

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Corrales, Los Ranchos De Albuquerque, Carlsbad: 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 $79,303 and a ridiculously low poverty rate of 5.688202247191012%.

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 2014-2018 American Community Survey for the 33 places in New Mexico with more than 5,000 people.

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 2020

Corrales, NM

Overall SnackAbility

9
/10

Population: 8,544
Rank Last Year: 1 (No Change)
Median Income: $79,303
Unemployment Rate: 4.6%
Poverty Rate: 5.7%
More on Corrales: Real Estate | Data | Photos

Corrales is a village in Sandoval County, New Mexico, United States. The population was 8,329 at the 2010 Census. With proximity to the Rio Grande, the village was founded for agricultural purposes. The Rio Grande Bosque on the eastern edge of the village provides refuge for native animals and plants. The village fights hard to maintain its rural character in light of being surrounded by the rapidly expanding cities of Rio Rancho and Albuquerque.

Los Ranchos De Albuquerque, NM

Overall SnackAbility

7.5
/10

Population: 6,131
Rank Last Year: 2 (No Change)
Median Income: $62,214
Unemployment Rate: 3.0%
Poverty Rate: 14.1%
More on Los Ranchos De Albuquerque: Real Estate | Data | Photos

Carlsbad, NM

Overall SnackAbility

7
/10

Population: 28,838
Rank Last Year: 3 (No Change)
Median Income: $66,110
Unemployment Rate: 4.0%
Poverty Rate: 14.9%
More on Carlsbad: Real Estate | Data | Photos

Carlsbad is a city in and the county seat of Eddy County, New Mexico, United States. As of the 2010 census, the city population was 26,138. Carlsbad is centered at the intersection of U.S. Routes 62/180 and 285, and is the principal city of the Carlsbad-Artesia Micropolitan Statistical Area, which has a total population of 55,435. Located in the southeastern part of New Mexico, Carlsbad straddles the Pecos River and sits at the eastern edge of the Guadalupe Mountains.

Edgewood, NM

Source: Public domain
Overall SnackAbility

6
/10

Population: 6,067
Rank Last Year: -
Median Income: $59,271
Unemployment Rate: 5.1%
Poverty Rate: 11.4%
More on Edgewood: Real Estate | Data | Photos

Santa Fe, NM

Overall SnackAbility

6
/10

Population: 83,847
Rank Last Year: 5 (No Change)
Median Income: $56,262
Unemployment Rate: 5.0%
Poverty Rate: 13.5%
More on Santa Fe: Real Estate | Data | Photos

Santa Fe is the capital of the state of New Mexico. It is the fourth-largest city in the state and the seat of Santa Fe County.

Rio Rancho, NM

Source: Public domain
Overall SnackAbility

8
/10

Population: 94,765
Rank Last Year: 4 (Down 2)
Median Income: $63,014
Unemployment Rate: 7.0%
Poverty Rate: 10.8%
More on Rio Rancho: Real Estate | Data | Photos

Rio Rancho is the largest city and economic hub of Sandoval County in the U.S. state of New Mexico. A small portion of the city extends into northern Bernalillo County. It is the third-largest and also one of the fastest expanding cities in New Mexico. As of the 2010 census, Rio Rancho had a population of 93,820.

Review Of Rio Rancho by HomeSnacks User

It's not the worst place you could live but it is NO where close to the best. I moved here a year ago and I already want to leave. Of course we are in New Mexico. So we are the best of the worst-! The hype and advertising of the city worked on us. But after being here a few months we saw the true side of this town. The government is a joke. Everyone talks about "community" and that the crime is low....false advertising! The crime is still ridiculous. People here are very rude. There are more "bad" areas of the city than good. Even the neighborhood I live in, that is deemed a "nicer" community, is still riddled with trash. No standards are present. The intelligence level of the majority is lacking to say the least. The list goes on but I am sure you know what direction we are now going.

Nothing stands out. It's a poor town full of people that are either too blind to see the squaller and idiocy they live in or they are in denial. On the only positive note, the view of the mountains are beautiful.

Los Lunas, NM

Source: Public domain
Overall SnackAbility

6
/10

Population: 15,428
Rank Last Year: 9 (Up 2)
Median Income: $54,409
Unemployment Rate: 6.8%
Poverty Rate: 11.2%
More on Los Lunas: Real Estate | Data | Photos

Los Lunas is a village in Valencia County, New Mexico, in the United States. As of the 2010 census, the village population is 14,835 inside the village limits due to the new housing developments at El Cerro de Los Lunas. It is the county seat of Valencia County.

Farmington, NM

Source: Public domain
Overall SnackAbility

5
/10

Population: 45,582
Rank Last Year: 7 (Down 1)
Median Income: $56,368
Unemployment Rate: 5.7%
Poverty Rate: 17.6%
More on Farmington: Real Estate | Data | Photos

Farmington is a city in San Juan County in the US state of New Mexico. As of the 2013 population estimate from the United States Census Bureau the city had a total population of 45,426 people. Farmington makes up one of the four Metropolitan Statistical Areas in New Mexico. The U.S. Census Bureau's population estimate in 2011 for Farmington was about 45,256.

Ruidoso, NM

Source: Public domain
Overall SnackAbility

6
/10

Population: 7,757
Rank Last Year: 12 (Up 3)
Median Income: $43,353
Unemployment Rate: 5.7%
Poverty Rate: 12.5%
More on Ruidoso: Real Estate | Data | Photos

Ruidoso is a village in Lincoln County, New Mexico, United States, adjacent to the Lincoln National Forest. The population was 8,029 at the 2010 census. The city of Ruidoso Downs and the unincorporated area of Alto are suburbs of Ruidoso, and contribute to the Ruidoso Micropolitan Statistical Area's population of 21,223.

Aztec, NM

Source: Public domain
Overall SnackAbility

5
/10

Population: 6,567
Rank Last Year: 6 (Down 4)
Median Income: $44,561
Unemployment Rate: 3.7%
Poverty Rate: 19.4%
More on Aztec: Real Estate | Data | Photos

How We Determined The Richest Places In New Mexico For 2020

Map Of The Richest Places To Live In New Mexico
The first thing that comes to most people's minds when they think about determining the richest places is to simply identify 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 2014-2018 American Community Survey:

  • Poverty Level
  • Median Household Income
  • Unemployment Rate

Median household income is the most digestible way to understand how rich a place really is. The unemployment rate tries to capture the prospects for more people to become rich. If more people are employed, the richer the future looks.

After we collected the data for all 33 places with more than 5,000 people in New Mexico, we ranked each place from 1 to 33 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 2020". You can download the data here.

You can learn more about the top ten below or skip to the end to see the rankings for all 33 places.

There You Have It - The Wealthiest Places In New Mexico For 2020

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.

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: Anthony
2nd Poorest: Deming
3rd Poorest: Truth or Consequences

For more New Mexico reading, check out:

Detailed List Of The Richest Cities In New Mexico

Rank City RichScore Median Income
1 Corrales 2.33 $79,303
2 Los Ranchos De Albuquerque 4.0 $62,214
3 Carlsbad 4.67 $66,110
4 Edgewood 5.33 $59,271
5 Santa Fe 7.0 $56,262
6 Rio Rancho 7.0 $63,014
7 Los Lunas 9.33 $54,409
8 Farmington 9.67 $56,368
9 Ruidoso 10.67 $43,353
10 Aztec 10.67 $44,561
11 Alamogordo 12.33 $44,133
12 Hobbs 12.33 $58,624
13 Albuquerque 12.67 $51,128
14 Bloomfield 13.67 $57,706
15 Artesia 14.0 $51,219
16 Lovington 15.33 $51,704
17 Roswell 15.33 $43,481
18 Clovis 17.67 $44,770
19 Socorro 18.67 $35,108
20 Gallup 21.0 $44,768
21 Taos 21.0 $30,893
22 Bernalillo 21.0 $42,396
23 Las Cruces 21.33 $40,551
24 Silver City 23.33 $34,431
25 Raton 23.67 $28,608
26 Portales 25.33 $36,788
27 Belen 26.0 $33,553
28 Grants 26.67 $35,142
29 Las Vegas 28.33 $27,790
30 Sunland Park 29.0 $27,442
31 Truth Or Consequences 29.0 $27,511
32 Deming 31.0 $23,633
33 Anthony 31.67 $23,378

How Is The Area In ?

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.

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