Housing costs in Magdalena?
A typical home costs
$151,100, which is 55.3% less expensive than the national average of
$338,100 and 43.4% less expensive than the average New Mexico home, at
$267,100. Renting a two-bedroom unit in Magdalena costs
$820 per month, which is 42.7% cheaper than the national average of
$1,430 and 24.4% cheaper than the state average of
$1,020.
Can I afford Magdalena?
To live comfortably in Magdalena, New Mexico, a minimum annual income of
$28,800 for a family, and
$24,800 for a single person is recommended.
What does A.I. say about Magdalena?
The cost of living in Magdalena, NM is relatively low compared to other areas of the country. The median home value in Magdalena is just $138,400, considerably lower than the US national average of $231,200. Additionally, the median household income is $37,375 which is much lower than the national median of $61,937. This means living expenses are often quite affordable for those who live and work in Magdalena. Food costs tend to be slightly higher since many items must be purchased from out-of-town stores, but overall costs remain quite reasonable.