Cerro, New Mexico (87519) is a small rural town situated in the southwestern part of the state. This area offers plenty of open space for those who enjoy outdoor activities such as hiking, fishing, camping, and exploring nature. The local economy is largely based on agriculture and ranching. The average two bedroom rent in Cerro is $940 per month which is significantly lower than the national average of $1,430 per month. Additionally, Cerro's Grocery Cost Index score is 96 compared to the national average of 100 indicating that groceries are less expensive than most other places in the United States. \nLiving expenses in Cerro are very affordable making it a great choice for those looking to save money on their day-to-day living costs. There are a variety of local businesses located in Cerro including Big Jim Trading Post & Feeds which offers feed for horses as well as apparel; J&R Swank Well Drilling and Pump Service which specializes in pump service and water well drilling; and RC Quail Farm which provides fresh eggs from its own quail farm. All these local companies provide valuable services to people living in Cerro while keeping prices low due to the competitive cost of living.
Cerro (zip 87519) has an unemployment rate of 10.5%. The US average is 6.0%.
Cerro (zip 87519) has seen the job market increase by 2.6% over the last year. Future job growth over the next ten years is predicted to be 30.2%, which is lower than the US average of 33.5%.
Tax Rates for Cerro (zip 87519)
- The Sales Tax Rate for Cerro (zip 87519) is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Cerro (zip 87519) 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 Cerro (zip 87519)
- The average income of a Cerro (zip 87519) resident is $9,641 a year. The US average is $28,555 a year.
- The Median household income of a Cerro (zip 87519) resident is $68,762 a year. The US average is $69,021 a year.