Rincon, New Mexico (zipcode 87940) is an excellent location for those looking for an affordable place to live. For example, the average 2 bedroom rent in Rincon is $870 compared to $1,430 in the US. Additionally, the Grocery Cost Index in Rincon is 98 compared to 100 in the US. As such, living costs are significantly lower than elsewhere across America.
Rincon is a small community and has many local businesses to shop from. These include a grocery store called The Store which offers everything you need at reasonable prices; a hardware store called El Agave where you can find supplies for home improvement projects; and a health food store called El Naranjo that focuses on fresh organic produce and other healthy foods. In addition, there are art galleries like Edificio de Arte de Rincon which showcases works by local artists; shops like La Tejana featuring handmade Mexican products; and restaurants like Lola's offering up delicious Mexican cuisine.
All together, Rincon offers great value for money when it comes to cost of living as well as access to local amenities. With its low housing costs and array of unique businesses located close by, anyone looking for an affordable place to call home should definitely consider this area of New Mexico.
Rincon (zip 87940) has an unemployment rate of 8.0%. The US average is 6.0%.
Rincon (zip 87940) has seen the job market decrease by -4.0% 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 Rincon (zip 87940)
- The Sales Tax Rate for Rincon (zip 87940) is 8.5%. The US average is 7.3%.
- The Income Tax Rate for Rincon (zip 87940) 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 Rincon (zip 87940)
- The average income of a Rincon (zip 87940) resident is $10,119 a year. The US average is $37,638 a year.
- The Median household income of a Rincon (zip 87940) resident is $0 a year. The US average is $69,021 a year.