Cost Of Living in Los Ranchos de Albuquerque, NM

D-

26%

Overall NAT. AVG.

0%

Goods & Services NAT. AVG.

91%

Housing NAT. AVG.

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	Los Ranchos de Albuquerque	New Mexico	National
Cost of living	126	93	100
Goods & Services	100	97	100
Groceries	97	97	100
Health care	96	97	100
Housing	191	86	100
Transportation	93	95	100
Utilities	99	90	100

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Cost Of Living Quick Facts

The cost of living in Los Ranchos de Albuquerque is 36% higher than the New Mexico average
The cost of living in Los Ranchos de Albuquerque is 26% higher than the national average
Los Ranchos de Albuquerque housing is 91% higher than the national average
New Mexico general sales tax is 2% lower than the national average
New Mexico state income tax is 25% lower than the national average

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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	$84,663	$7,055	$1,975	$2,540
Renters	$26,250	$2,188	$612	$788

A good way to judge both the affordability of the housing and the cost of living in Los Ranchos de Albuquerque is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Los Ranchos de Albuquerque has a median income of about $84,663 for people who own homes. Based on that number, a maximum of $1,975 should be spent on expenses related to housing. Renters have a slightly different median income, which is $26,250. Based on this average, renters should spend no more than $612 on all rental costs if they want to maintain a non-impoverished standard of living.

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	Los Ranchos de Albuquerque	National avg.	Difference
Haircut	$31.90	$24.26	31.5%
Beauty Salon	$50.83	$45.56	11.6%
Toothpaste	$3.62	$3.70	2.3%
Shampoo	$1.15	$1.28	10.5%
Movie	$12.54	$12.13	3.3%
Bowling	$20.89	$18.00	16.1%

Groceries

Item	Los Ranchos de Albuquerque	National avg.	Difference
Ground Beef	$5.11	$5.84	12.5%
Fried Chicken	$1.32	$1.57	16.1%
Milk	$4.63	$4.67	1.0%
Potatoes	$4.18	$4.93	15.3%
Pizza	$13.42	$12.09	11.0%
Beer	$11.07	$10.41	6.4%

Health Care

Item	Los Ranchos de Albuquerque	National avg.	Difference
Optometrist	$136.89	$125.68	8.9%
Doctor	$134.17	$135.78	1.2%
Dentist	$111.42	$113.29	1.7%
Ibuprofen	$10.43	$10.65	2.1%
Lipitor	$380.06	$468.60	18.9%

Housing

Item	Los Ranchos de Albuquerque	National avg.	Difference
Home Price	$435,400.00	$184,700.00	135.7%
Avg. Mortgage Payment	$1,905.97	$2,346.69	18.8%
Apartment Rent	$824.00	$949.00	13.2%

Transportation

Item	Los Ranchos de Albuquerque	National avg.	Difference
Gasoline	$3.50	$3.46	1.1%
Tire Balancing	$43.87	$59.92	26.8%

Utilities

Item	Los Ranchos de Albuquerque	National avg.	Difference
All Electricity	$191.24	$193.99	1.4%
Phone	$190.51	$192.25	0.9%

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.
Pajarito Mesa, NM	310	76	24.3%
Placitas CDP (Doña Ana County), NM	725	79	21.1%
Monterey Park, NM	1,097	86	14.2%
Santa Ana Pueblo, NM	944	90	9.8%
Indian Hills, NM	810	92	8.2%
Los Ranchos de Albuquerque, NM	6,120	126	25.9%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Foxborough, MA	6,119	132	31.9%
Sheridan, OR	6,122	108	7.7%
Piedmont, SC	6,122	91	8.8%
Stewartville, MN	6,123	99	0.9%
Manistee, MI	6,116	87	12.7%
Los Ranchos de Albuquerque, NM	6,120	126	25.9%