University Park, NM is a small town that offers an affordable living to its residents. The median two bedroom rent in the city is only $900, which is significantly lower than the US average of $1,430. The cost of groceries are also lower compared to the national level, as measured by the Grocery Cost Index at 92 versus 100 across the United States. Residents in University Park benefit from its close proximity to larger cities such as Albuquerque and Santa Fe for employment opportunities. Some local companies include Media Arts Group Inc., X-Caliber Motorsports LLC, and LaFonda on the Plaza.
University Park has an unemployment rate of 8.0%. The US average is 6.0%.
University Park has seen the job market increase by 0.9% over the last year. Future job growth over the next ten years is predicted to be 24.0%, which is lower than the US average of 33.5%.
Tax Rates for University Park
- The Sales Tax Rate for University Park is 6.8%. The US average is 7.3%.
- The Income Tax Rate for University Park 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 University Park
- The average income of a University Park resident is $5,333 a year. The US average is $28,555 a year.
- The Median household income of a University Park resident is $19,125 a year. The US average is $69,021 a year.