Los Ranchos de Albuquerque cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexLos Ranchos de AlbuquerqueNew MexicoNational
Cost of living index11994100
IndexLos Ranchos de AlbuquerqueNew MexicoNational
Goods & Services index9695100
Groceries index95105100
Health care index98100100
Housing index17789100
Transportation index97100100
Utilities index8590100
A general summary of the cost of living index in Los Ranchos de Albuquerque, NM is shown above. Compared to the state average of New Mexico the cost of living index in Los Ranchos de Albuquerque, NM is 119, which is 26% higher than the average in New Mexico and compared to the national average it is 19% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Los Ranchos de Albuquerque, NM goods and services come in at 1% higher than the average in New Mexico and are 4% lower than compared to the nationwide average.

Did you know?

  • The cost of living in Los Ranchos de Albuquerque is 26% higher than the New Mexico average.
  • The cost of living in Los Ranchos de Albuquerque is 19% higher than the national average.
  • The cost of housing in Los Ranchos de Albuquerque is 77% higher than the national average.
  • New Mexico general sales tax is 1% higher than the national average.
  • New Mexico state income tax is 24% lower than the national average.

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Compare Los Ranchos de Albuquerque, NM Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Health care index
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The salary calculator is used in order to provide a comparison of your current salary in Los Ranchos de Albuquerque, NM to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Los Ranchos de Albuquerque, NM, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Los Ranchos de Albuquerque, NM salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$77,136$6,428$1,800$2,314
Renters$27,052$2,254$631$812
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Los Ranchos de Albuquerque, NM, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Los Ranchos de Albuquerque, NM has a median income of about $77,136 for people who own homes. Based on that number, a person should spend a maximum of $1,800 on expenses related to housing. Renters have a slightly different median income, which is $27,052. Based on this average, renters should spend no more than $631 on all of their rental costs if they want to maintain a non-impoverished standard of living.

New Mexico Sales Tax

StateGeneral Sales TaxWith Max Surtax
New Mexico5.125%8.688%

New Mexico Income Tax

StateIncome Tax (Low)Income Tax (High)
New Mexico1.7%4.9%
For those who live in Los Ranchos de Albuquerque, NM and want to know what the true cost of living is, they ought to look at both the New Mexico income tax rate and the New Mexico sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In New Mexico, the sales tax is 5.125%, while the most you'll pay in surtax is 8.688%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in New Mexico, the income tax rate ranges between 1.7% to 4.9%.

Goods & Services

ItemLos Ranchos de AlbuquerqueNational avg.Difference
Haircut $16.70$15.567.3%
Beauty Salon $44.30$36.1122.7%
Toothpaste $2.47$2.470.0%
Shampoo $0.78$0.9619.5%
Movie $10.50$10.133.7%
Bowling $6.43$4.7435.8%

Groceries

ItemLos Ranchos de AlbuquerqueNational avg.Difference
Ground Beef $4.30$3.988.0%
Fried Chicken $1.43$1.411.4%
Milk $1.69$2.0618.3%
Potatoes $2.53$2.9815.3%
Pizza $8.93$9.475.7%
Beer $6.71$8.7923.7%

Health Care

ItemLos Ranchos de AlbuquerqueNational avg.Difference
Optometrist $101.20$101.040.2%
Doctor $98.16$107.448.6%
Dentist $96.44$90.426.7%
Ibuprofen $8.32$9.2810.4%
Lipitor $389.18$426.508.7%

Housing

ItemLos Ranchos de AlbuquerqueNational avg.Difference
Home Price $380,100.00$175,700.00116.3%
Avg. Mortgage Payment $1,096.77$1,133.233.2%
Apartment Rent $773.00$920.0016.0%

Transportation

ItemLos Ranchos de AlbuquerqueNational avg.Difference
Gasoline $1.83$1.998.3%
Tire Balancing $50.04$45.769.4%

Utilities

ItemLos Ranchos de AlbuquerqueNational avg.Difference
All Electricity$149.22$163.818.9%
Phone $22.15$28.3922.0%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Pajarito Mesa, NM31794-6%
Placitas, NM64673-27%
Monterey Park, NM1,41576-24%
Santa Ana Pueblo, NM68483-17%
Pueblo of Sandia Village, NM33887-13%
Los Ranchos de Albuquerque, NM6,07411919%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Meridianville, AL6,07397-3%
Pepper Pike, OH6,07913535%
North Manchester, IN6,08083-17%
Sheridan, OR6,0811033%
Holtville, CA6,06796-4%
Los Ranchos de Albuquerque, NM6,07411919%
Source: The Los Ranchos de Albuquerque, NM cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.