Rio Communities 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.
IndexRio CommunitiesNew MexicoNational
Cost of living index9194100
IndexRio CommunitiesNew MexicoNational
Goods & Services index9695100
Groceries index95105100
Health care index98100100
Housing index8389100
Transportation index97100100
Utilities index8590100
A general summary of the cost of living index in Rio Communities, NM is shown above. Compared to the state average of New Mexico the cost of living index in Rio Communities, NM is 91, which is 4% lower than the average in New Mexico and compared to the national average it is 9% lower 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 Rio Communities, 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 Rio Communities is 4% lower than the New Mexico average.
  • The cost of living in Rio Communities is 9% lower than the national average.
  • The cost of housing in Rio Communities is 17% lower 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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Salary Calculator

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Groceries index
Health care index
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The salary calculator is used in order to provide a comparison of your current salary in Rio Communities, 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 Rio Communities, NM, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Rio Communities, 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$49,190$4,099$1,148$1,476
Renters$25,489$2,124$595$765
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 Rio Communities, 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. Rio Communities, NM has a median income of about $49,190 for people who own homes. Based on that number, a person should spend a maximum of $1,148 on expenses related to housing. Renters have a slightly different median income, which is $25,489. Based on this average, renters should spend no more than $595 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%
One thing to keep in mind when considering the cost of living in Rio Communities, NM is the New Mexico sales tax and New Mexico income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The New Mexico sales tax rate is 5.125% and the maximum surtax that can be charged is 8.688%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The New Mexico income tax rates range from 1.7% to 4.9%.

Goods & Services

ItemRio CommunitiesNational 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

ItemRio CommunitiesNational 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

ItemRio CommunitiesNational 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

ItemRio CommunitiesNational avg.Difference
Home Price $128,600.00$175,700.0026.8%
Avg. Mortgage Payment $1,096.77$1,133.233.2%
Apartment Rent $968.00$920.005.2%

Transportation

ItemRio CommunitiesNational avg.Difference
Gasoline $1.83$1.998.3%
Tire Balancing $50.04$45.769.4%

Utilities

ItemRio CommunitiesNational 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.
Abeytas, NM6071-29%
Veguita, NM21976-24%
Madrone, NM71077-23%
Casa Colorada, NM14978-22%
Meadow Lake, NM5,62681-19%
Rio Communities, NM5,47691-9%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Macon, MO5,47684-16%
Bisbee, AZ5,47590-10%
Wake Village, TX5,47791-9%
Lake Murray of Richland, SC5,47512323%
Hoopeston, IL5,47481-19%
Rio Communities, NM5,47691-9%
Source: The Rio Communities, NM cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.