Goods & Services. Single trip fares list from 50 cents to $2.50, depending on the zone. Council for Community and Economic Researchs. Rent isnt the only home expense for apartment dwellers. Womens slacks are almost $5 more affordable. ), 1 min. Utilities tend to cost 4.57% The cost of living comparison is based on your income and the price of basic necessities such as housing, transportation or food in the two cities you selected. The average single-family home cost in New Mexico is $193,200. The biggest factors in any move are the standard of The average meal out at an inexpensive restaurant in Albuquerque is around 15 bucks. The average cost of a single-family home in Albuquerque, New Mexico in 2022 is $ 305,155 which is high in the United States and high in New Mexico. of boneless chicken breast, 0.5 l (16 oz) domestic beer in the supermarket, Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area, Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area, Utilities 1 month (heating, electricity, gas ) for 2 people in 85m2 flat, Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area, Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area, Utilities 1 month (heating, electricity, gas ) for 1 person in 45 m2 (480 sqft) studio, Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands), 1 summer dress in a high street store (zara, h&m or similar retailers), 1 pair of sport shoes (nike, adidas, or equivalent brands), Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new, Taxi trip on a business day, basic tariff, 8 km. Is Living in Albuquerque Expensive? A mens dress shirt, at $28, is around $4 cheaper than the rest of the country. You would have to earn a salary of $65,044 to maintain your current standard of living. Cost of Living Comparison between Albuquerque, NM vs Santa Fe, NM One of the most important aspects to a good quality of life is good healthcare. Albuquerque's housing expenses are 12% lower than the national average and the utility prices are 8% lower than the national average. Comparable Income: $40,695. All rights reserved. Download the Rent. Santa Fe is the costliest surveyed city for assisted living, with rates coming in at $5,814. Check out Rent.s handy Rent Calculator. However, other Cactus State cities like Rio Rancho and Las Cruces experienced an increase of around 8 percent from a year ago. The cost of living in Albuquerque, NM is 10.42% lower than your current city. Cost of Living & Prices in New Mexico: 13 cities compared New Mexico does not have a standard sales tax. It is ranked as number 76 in the United States, making it below average in driver friendliness. As in most cities, the most popular neighborhoods are also the priciest. Cost of Living in Albuquerque, New Mexico - Sperling's BestPlaces Thats a 1.6 percent drop from last year. Cost of Living in Albuquerque, NM - Salary.com That includes everything from going to the movies to buying toiletries to a salon day. Utilities tend to cost 4.57% higher. Ideally, youll find that you can afford the cost of living in your new destination, but having that of prepaid mobile tariff (no discounts or plans), 1 month of gym membership in business district, Monthly rent - 45 m2 furnished studio in expensive area in, Combo meal in fast food restaurant (big mac meal or similar) in. The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive. What's it like living in Albuquerque? Moreover, groceries and transportation costs remain fairly low when compared with other US cities - making Albuquerque a great option for anyone looking for value out of their money.Our cost of living indices are based on a US average of 100. New Mexico: $4,498. MEDIAN MONTHLY RENT BY NUMBER OF BEDROOMS. New Mexico ranked 33rd most expensive and 34th best state to live in the United States. There are many providers and various packages that are offered, many that bundle internet, cable, and phone together. List of prices in Albuquerque, New Mexico Current as of Aug 2023. If you would like to know the cost of living in other cities, then please enter a city name. higher. Studios rent for $1,418, singles for $1,809 and doubles at $2,212. Most annual precipitation comes from afternoon summer thundershowers, which peak during August. Explore recent offers and recently sold homes in, 10712 Cenote Rd SW, Albuquerque, NM 87121, 6800 Vista del Norte Rd NE #14, Albuquerque, NM 87113, 1036 Alvarado Dr SE, Albuquerque, NM 87108, 6625 Hallmark Ct NE, Albuquerque, NM 87109, 5613 Mosquero Ct NW, Albuquerque, NM 87120, 8913 Hilton Ave NE, Albuquerque, NM 87111, 106 California St SE, Albuquerque, NM 87108, 4916 Cresta Del Sur Ct Ne, Albuquerque, NM 87111. Average rents in the area increased by 42% over the past year to . A crowdsourced database with a cost of living calculator for prices comparison in 9294 cities in 197 countries all over the world. The median sale price of a home in Albuquerque was $337K last month, up 7.3% since last year. living and what salary youll need to make in order to reach that standard. Cost of Living in New Mexico 2023 | RentCafe On the opposite pole, Tucson and Colorado Springs are both only under by at least 5 percent. What your skills are worth in the job market is constantly changing. After that, fares may return to normal, increase, decrease or remain free, depending on city government determination. How much do you need to earn to live in Albuquerque? The town sprawls in all directions from the city core; managing growth, sprawl, congestion, and air quality are among the areas biggest challenges. The citys walk score is an above-average 53. To help you with your search, browse the 193 reviews below for independent living communities in Albuquerque. A shift towards, Handling involuntary termination is a likely occurrence for human resources managers and, Return better results with Payscale job search, Compare real living costs across different states, Consider potential directions your career can take, Calculate the 20-year net ROI for US-based colleges, Are you the kind of person who struggles to get a handle, Learn where the best career earners attended college, Streamlined solutions for every step of the compensation management journey, Continuously updated compensation datasets from Payscale and our partners, Flexible, customizable services and support for Payscale customers, End comp guesswork with our free job-pricing tool, From collection to validation, our data methodology delivers certainty, Meet the leaders dedicated to empowering better conversations around pay, Track and compare wage-growth by city, industry, company size, and job category, Access helpful tools and insights for career planning and salary negotiation, Explore real-world career trends and advice from the leaders in compensation, Uncover detailed salary data for specific jobs, employers, schools, and more, Take our salary survey to see what you should be earning. The median sale price per square foot in Albuquerque is $203, up 7.4% since last year. At 30 percent of total income, thats an affordable rate for someone earning at least $45,280 a year. Based on this average, renters should spend no more than $684 on all rental costs if they want to maintain a non-impoverished standard of living. The same type of job in the same type of company in Santa Fe, NM will typically pay $60,304 . READ REDFIN'S FAIR HOUSING POLICY AND THE NEW YORK STATE FAIR HOUSING NOTICE. Cost of Living in Albuquerque, NM 2023 | RentCafe The climate is arid continental with abundant sunshine, low humidity, scant precipitation, and a wide yet tolerable range of seasonal temperatures. Within a days drive are interesting historic and archeological sites and mountain areas to the east. 16 Things to Know About Living in Albuquerque - Extra Space Storage Cost Of Living Index By Country Cost of Living Estimator Prices By City Prices By Country Historical Data Analysis Basket of Goods and Services Taxi Fare Calculator Methodology and Motivation Update Data for Your City Property Price Index (Current) Property Price Index By Country Quality Of Life Quality of Life Comparisons Housing in Albuquerque, NM is thriving with a median value of $308,100. On average, consumers rate independent living in Albuquerque 4.3 out of 5 stars. And, in Albuquerque, those neighborhoods lie on the east side of town, many close to the University. Costs of goods and services are declining. He currently works as Craft Beer & Brewery contributor for the Visit Philly Greater Philadelphia Tourism Bureau and sits on the board of a non-profit law firm that assists veterans with disabilities. This can vary depending on the time of day, day of week, and the weather and road conditions. If the only things you know about Albuquerque, other than the gritty undersides seen in Breaking Bad or In Plain Sight, youre missing the best of The Duke City. Decreasing steadily. The most expensive neighborhood for one-bedroom apartments is Del Rey in the northeast. Open the app and start learning about the neighborhood you are standing in Sperling's Best Places. The Albuquerque housing market is somewhat competitive. NM, you'll need a A full three-course meal at a mid-range dining spot runs $65. Whether youre a commuter via your own vehicle or public transportation, considering factors like the price of gas and monthly cost of taking a train or bus is crucial when budgeting for your move. Even if your employer is covering the cost of a move, there will still be costs that are not covered. million Redfin.com users who searched for homes across more than 100 metro areas. Ranked 502nd (TOP 5%) in the list of best places to live in the world and 88th best city to live in the United States, and 1st most liveable city in New Mexico. Crowdsourced data is a vital part of the Internet, help us become better! Homes tend to cost 20.40% places to live around Albuquerque, The cost of living in Albuquerque is 4% lower 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. A typical washer repair will run $72, $11 under the national average. Our cost of living calculator will help you figure out if your move will work for your budget and salary. Housing is 8% lower than the national average, while utilities are 11% lower. They provide a decent starting assumption, but they are not yet completely reliable. The median sale price per square foot in Albuquerque is $203, up 7.4% since last year. School service boundaries are intended to be used as reference only. Pay increases are a top concern for 2022 to attract and retain talent, Temporary employee laws: A guide to hiring contract roles, What to include in a termination letter: Template and examples, How to Manage Your Time and Prioritize Your Workload. It's been exactly one year since President Joe Biden signed the Inflation Reduction Act, securing a core part of his domestic agenda with what's by far the most . A dozen eggs, orange juice, frozen corn and a can of coffee are among the items slightly more expensive than the rest of the country. Many individual staples are well below the median around the country. 18 Pros and Cons of Living in Albuquerque, New Mexico IIn New Mexico, the t ypical home is worth $166,800. The goal is to pay under 30%, but that may not be achievable in your destination city or town. And, its only getting cheaper. And, unlike all other apartment sizes, studios show no change from this time last year. The median sale price of a home in Albuquerque was $336K last month, up 7.1% since last year. That means you'll have access to a housing market that sees some movement in a state where there isn't much demand. . Cost of living in Albuquerque , New Mexico - Dwellics And to put the driving costs in perspective, an average tire balance costs $50.36. But, a mens barbershop haircut, at $24.14, will make you pony up about $4 more. An amount below 100 means Albuquerque is cheaper than the US average. The city is dry throughout most of the year. However, ABQ Ride is currently piloting a zero-fare program for bus riders. In fact, an Albuquerque resident making the average salary could afford an apartment leasing for up to $1,650 at 30 percent expenditure. Homes sell in 17 days. The warm season runs from May through September, and the short winter season only lasts from the end of November through mid-February. Change the currency: Updated January 2023: By searching, you agree to the Terms of Use, andPrivacy Policy. The cost of living in Albuquerque, NM is 10.42% Let us help you make an informed decision about what it will cost to live and work in the city of your dreams! Albuquerque's cost of living is lower than most cities in New Mexico. You should factor this commuting time into your overall, The cost of a monthly transit pass in Albuquerque, NM is around $30.00. Electric costs will contribute to the energy component of your overall, It is difficult to exactly predict the cost of child care in any city, which for parents, is a large part of the, I am single and live in Albuquerque,NM, I rent a small 1 bedroom and the monthly rent is $581 . Lots are $36.75 to $47.25 monthly. Poor. If you prefer to download the image, please credit us as a source. Cost of Living Calculator | City and Salary Comparison Tool - NerdWallet $932: Building permits, 2022: X: Families & Living Arrangements. Cost of living in Albuquerque, New Mexico, United States - Expatistan Rents for an average one-bedroom fall well below recommended prices based on the local average wage. See all recently sold homes in Albuquerque. Call 1-855-287-5093 for details. The taste of Albuquerque blends both Native American and Latino flavors, and individual ingredient costs vary. Since a year ago the price of electricity in New Mexico has gone down about 0.298%. REDFIN and all REDFIN variants, TITLE FORWARD, WALK SCORE, and the R logos, are trademarks of Redfin Corporation, registered or pending in the USPTO. 2023 Cost of Living Calculator: compare Albuquerque, New Mexico to Do not sell or share my personal information. The average cost of living in Albuquerque is $2183, which is in the top 11% of the most expensive cities in the world, ranked 1065th out of 9294 in our global list, 948th out of 2202 in the United States, and 2nd out of 13 in New Mexico. Cost of Living in Albuquerque, NM 2023 - Apartment List Three-bedroom units are up 21 percent to $1,860. knowledge handy before you move can help set expectations or help you decide to move somewhere else. That means that the cost of living is just 7.6 percent below the national average, making Albuquerque an affordable Southwest city. The Albuquerque housing market is somewhat competitive. Theres no GRT tax on grocery items, including candy and carbonated beverages, but only if purchased in person at a store. The cost of local travel is 9.3 percent below the national average. These smaller cities elsewhere in the state tend to offer lower rent prices but lie further from city amenities. Learn More. Calculate Cost of Living Moving From Moving To Annual Salary Thinking of relocating to Albuquerque? Comparable Income: $32,344. Comparable Income: $28,367. If you are using a screen reader, or having trouble reading this website, please call Redfin Customer Support for help at 1-844-759-7732. Sure, while Bugs Bunny often took the wrong turn there, Albuquerque is a modern, cultural, tech-forward city with laid-back vibes and a diverse population. If you find that the housing costs in your destination city is much higher than where you are now, it would be a good idea to research some nearby locations to find lower rents and mortgage rates. Hourly rates run $1 per half-hour. You'll have to take out a loan to live here. About 25% of the entire population lives in Albuquerque. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. Members receive 10 FREE city profile downloads a month, unlimited access to our detailed cost of living calculator and analysis, downloadable reports, and more. Some areas have more affordability and availability of healthcare options than others, and depending on your specific needs, you may need to prioritize moving to areas with lower healthcare costs.
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