Housing costs in Albuquerque?
A typical home costs
$337,100, which is 0.3% less expensive than the national average of
$338,100 and 26.2% more expensive than the average New Mexico home, at
$267,100. Renting a two-bedroom unit in Albuquerque costs
$1,670 per month, which is 63.7% more than the national average of
$1,020 and 31.7% more than the state average of
$1,140.
Can I afford Albuquerque?
To live comfortably in Albuquerque (zip 87116), New Mexico, a minimum annual income of
$64,440 for a family, and
$54,800 for a single person is recommended.
What does A.I. say about Albuquerque?
The cost of living in 87116 Albuquerque, NM is generally considered to be quite affordable. According to the Cost of Living Index, the city's overall cost of living rating is 89.5, which is lower than both the national average and New Mexico's average. As a comparison, housing costs in 87116 are 24% lower than the rest of the country, and utilities are 5% lower. In addition to this, groceries costs in Albuquerque are 10% lower than the national average. Overall, given the affordability of living in 87116 Albuquerque, NM, it provides a great option for those looking to stay within budget when considering housing and other necessities.