Taking into account the cost of goods and services like housing, groceries, transportation and utilities, the overall cost of living in this area is well below average.
High scores in the housing category are a distinguishing feature of this area, possibly driven by a favorable home affordability ratio, higher home values and appreciation rates.
A low commute score could be due to longer-than-average work commutes and the limited availability of public transportation in this area.
Rio Rancho is a medium-sized city located in the state of New Mexico. The city has a population of 97,976 inhabitants. If we look at the most recent Census, Rio Rancho is known to have a predominantly White population. The next two most common races are Black and Asian. Additionally, more than a quarter of the population of Rio Rancho are of Hispanic or Latino origin, and 15% of the population also speak Spanish. On a daily basis, the typical American spends approximately 26 minutes on their one-way work commute. Reduced travel times not only contributes to increased overall happiness, but also affords more opportunities to cherish moments with family and friends. If you're living in Rio Rancho, your commute time will align closely with the national average, spanning a one-way duration of approximately 28 minutes.
Without the right tools, relocating to any new area can be very stressful and challenging. Living in Rio Rancho, New Mexico could be a fulfilling experience for anyone who puts in the effort to do the research required. When searching for a new neighborhood, several key items should be considered. Safety is paramount, ensuring a secure environment for you and your family. Proximity to workplaces or schools reduces commuting time and enhances convenience. Access to amenities like parks, grocery stores and healthcare facilities contributes to a comfortable lifestyle. Reliable public transportation options promote easy mobility. A strong sense of community fosters social connections and a welcoming atmosphere. Finding the best places to live in Rio Rancho and nearby areas is a much easier task when you can rely on information and data from the livability score, which includes amenities, cost of living, commute, health & safety and other important metrics.
Using data and statistics Rio Rancho has received a livability score of 70/100. This score is ranked in the 78th percentile when compared to all other cities. There are nine total categories that create the livability score. Rio Rancho ranks well for crime (B+), cost of living (A-) and housing (A+) There is at least one category that does not have great scores in Rio Rancho. The following was graded with a less than perfect score: amenities (D).
A robust real estate market serves as a crucial economic indicator, reflecting the local area's strength, stability and the confidence of its residents. Rio Rancho excels in the housing sector, scoring high marks based on factors such as median home and rental prices, appreciation rates and home affordability. These calculations suggest that the apartment rental and real estate market in the region is exceptionally healthy, highlighting the area's economic vitality and attractiveness to potential homebuyers and renters.
There are many factors that go into deciding if an area is the right fit for your lifestyle. Certain “must haves” like low crime, great schools and nearby amenities are all at the top of most people's lists. But before even considering if those options are attainable, we'll need to know if the real estate in Rio Rancho is actually affordable. The median home price for Rio Rancho homes is $200,800, which is 24.3% higher than the New Mexico average. If we take a closer look at the affordability of homes in Rio Rancho, we’ll see that the home price to income ratio is 3, which is 14.3% lower than the New Mexico average.
Statistic | Rio Rancho | New Mexico | National |
Average one way commute | 28min | 22min | 26min |
Workers who drive to work | 79.3% | 79.8% | 76.4% |
Workers who carpool | 11.0% | 10.1% | 9.3% |
Workers who take public transit | 0.8% | 1.2% | 5.1% |
Workers who bicycle | 0.2% | 0.7% | 0.6% |
Workers who walk | 1.0% | 2.2% | 2.8% |
Working from home | 6.3% | 4.7% | 4.6% |