A+
5%
Overall NAT. AVG.
0%
Goods & Services NAT. AVG.
11%
Housing NAT. AVG.
Search Homes for Sale
Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Bernalillo New Mexico National
Cost of living9593100
Goods & Services10097100
Groceries9797100
Health care9697100
Housing8986100
Transportation9395100
Utilities9990100

An Overview of Cost of Living in Bernalillo, NM

Knowing the cost of living in Bernalillo allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Bernalillo stands at 95, marking it 5% lower than the national average.

The cost of living in Bernalillo closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, goods and services, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Bernalillo can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.

Is Bernalillo Affordable?

Is Bernalillo an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Bernalillo, the median home price is 9.6% lower than what most folks pay across the country, and monthly rent prices are 14.8% lower than the usual rates. Income levels in Bernalillo come in at $50,528, which is 8.7% lower than the national average.

What Factors can Influence the Cost of Living in Bernalillo?

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Bernalillo, the housing index is 11.1% lower than the national average.

Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Bernalillo, healthcare costs are 4.3% lower than the national average.

Where is the Data From?

The cost of living in Bernalillo, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

New Real Estate Listings in Bernalillo Area
Search Homes for Sale in Bernalillo, NM

Cost Of Living Quick Facts

  • The cost of living in Bernalillo is 3% higher than the New Mexico average
  • The cost of living in Bernalillo is 5% lower than the national average
  • Bernalillo housing is 11% lower than the national average
  • New Mexico general sales tax is 2% lower than the national average
  • New Mexico state income tax is 35% lower than the national average

Most Affordable Places to Live in and Around Bernalillo

See all the best places to live around Bernalillo

Compare Bernalillo, NM Cost of Living

      vs
      How would you rate the cost of living in Bernalillo?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Bernalillo?
      Write a review to give others more information about this area.
      See all Bernalillo poll results

      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$60,981$5,082$1,423$1,830
      Renters$28,229$2,352$659$847
      A good indicator of the general affordability of housing in Bernalillo, NM, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Bernalillo, the median monthly income is $60,981 for those who own their own homes. Under the standard rule, that income level would allow for $1,423 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $28,229, per the median income in the area. That would allow for renters to spend up to $659 on monthly rental expenses.

      New Mexico Sales Tax

      State General Sales Tax With Max Surtax
      New Mexico 5% 8.688%

      New Mexico Income Tax

      State Income Tax (Low) Income Tax (High)
      New Mexico 1.7% 5.9%

      Goods & Services

      Item Bernalillo National avg. Difference
      Haircut $31.90$24.2631.5%
      Beauty Salon $50.83$45.5611.6%
      Toothpaste $3.62$3.702.3%
      Shampoo $1.15$1.2810.5%
      Movie $12.54$12.133.3%
      Bowling $20.89$18.0016.1%

      Groceries

      Item Bernalillo National avg. Difference
      Ground Beef $5.11$5.8412.5%
      Fried Chicken $1.32$1.5716.1%
      Milk $4.63$4.671.0%
      Potatoes $4.18$4.9315.3%
      Pizza $13.42$12.0911.0%
      Beer $11.07$10.416.4%

      Health Care

      Item Bernalillo National avg. Difference
      Optometrist $136.89$125.688.9%
      Doctor $134.17$135.781.2%
      Dentist $111.42$113.291.7%
      Ibuprofen $10.43$10.652.1%
      Lipitor $380.06$468.6018.9%

      Housing

      Item Bernalillo National avg. Difference
      Home Price $167,000.00$184,700.009.6%
      Avg. Mortgage Payment $1,905.97$2,346.6918.8%
      Apartment Rent $809.00$949.0014.8%

      Transportation

      Item Bernalillo National avg. Difference
      Gasoline $3.50$3.461.1%
      Tire Balancing $43.87$59.9226.8%

      Utilities

      Item Bernalillo National avg. Difference
      All Electricity $191.24$193.991.4%
      Phone $190.51$192.250.9%
      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 Population Cost of Living Index National Avg.
      San Antonito CDP (Socorro County), NM33982.1%
      Placitas CDP (Doña Ana County), NM7257921.1%
      Zia Pueblo, NM8458119.3%
      Monterey Park, NM1,0978614.2%
      Santo Domingo Pueblo, NM2,2818911.5%
      Bernalillo, NM10,077954.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Vernon, TX10,0788020.4%
      St. Albans, WV10,0788911.0%
      Woodburn, VA10,08116262.3%
      Española, NM10,071946.5%
      Harrisonville, MO10,0849010.2%
      Bernalillo, NM10,077954.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.