Housing costs in Madrid?
A typical home costs
$222,900, which is 34.1% less expensive than the national average of
$338,100 and 16.5% less expensive than the average New Mexico home, at
$267,100. Renting a two-bedroom unit in Madrid costs
$1,230 per month, which is 14.0% cheaper than the national average of
$1,430 and 17.1% more than the state average of
$1,020.
Can I afford Madrid?
To live comfortably in Madrid, New Mexico, a minimum annual income of
$42,840 for a family, and
$42,800 for a single person is recommended.
What does A.I. say about Madrid?
The cost of living in Madrid, NM is quite reasonable. The median home price is $175,500 which is significantly lower than the national average. The cost of groceries and utilities are also lower than the national average, making it an affordable place to live. Additionally, the median household income for Madrid is significantly lower than the national average at approximately $39,000 per year. This makes it a great option for those looking for an affordable area to call home.