Housing costs in Velarde?
A typical home costs
$255,300, which is 24.5% less expensive than the national average of
$338,100 and 4.4% less expensive than the average New Mexico home, at
$267,100. Renting a two-bedroom unit in Velarde costs
$770 per month, which is 24.5% cheaper than the national average of
$1,020 and 3.9% cheaper than the state average of
$800.
Can I afford Velarde?
To live comfortably in Velarde (zip 87582), New Mexico, a minimum annual income of
$48,960 for a family, and
$26,800 for a single person is recommended.
What does A.I. say about Velarde?
The cost of living in 87582 Velarde, NM is quite affordable. The overall cost of living index is about 80.3, which is 20% lower than the national average. Housing costs are particularly low in Velarde, with the median home price standing at just over $129,000. Renting also has an incredibly affordable rate, with a two-bedroom apartment averaging around $680 per month. Groceries are also reasonably priced, and utilities like gas and electricity tend to be slightly higher than the national average but still low compared to many other areas in the country. Overall, life in 87582 Velarde, NM offers an attractive balance between affordability and quality of life for all who choose to live there.