Albuquerque, New Mexico is a great city to live in with an array of local businesses. With a Grocery Cost Index of 96 compared to the US average of 100, groceries are quite affordable in Albuquerque. The rent for a two bedroom is also quite competitive at $1,220 per month compared to the national average of $1,430. Popular businesses such as Walmart, Target, and Sams Club are known throughout Albuquerque for their convenience and affordability. Other local companies include Albuquerque Brewing Company and Frontier Restaurant for great food and drinks. When it comes to cost of living, Albuquerque offers competitive rates that draw many people to this wonderful city.
Albuquerque has an unemployment rate of 7.4%. The US average is 6.0%.
Albuquerque has seen the job market increase by 3.3% over the last year. Future job growth over the next ten years is predicted to be 34.5%, which is higher than the US average of 33.5%.
Tax Rates for Albuquerque
- The Sales Tax Rate for Albuquerque is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Albuquerque is 4.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Albuquerque
- The average income of a Albuquerque resident is $26,876 a year. The US average is $28,555 a year.
- The Median household income of a Albuquerque resident is $56,366 a year. The US average is $69,021 a year.