The city of Albuquerque, NM (zip code 87116) is an affordable place to live, with a 2 bedroom rent of $1,670 compared to the US average of $1,430. Grocery cost index is even more favorable at 99 versus the US's 100. Local companies offering services in Albuquerque include the University of New Mexico Hospital (healthcare), Verizon Wireless (cellular service and plans), and Smith’s Food & Drug (grocery store). With its affordability and range of local businesses, Albuquerque provides a great place to call home.
Albuquerque (zip 87116) has an unemployment rate of 7.4%. The US average is 6.0%.
Albuquerque (zip 87116) has seen the job market decrease by -5.1% over the last year. Future job growth over the next ten years is predicted to be 34.5%, which is higher than the US average of 33.5%.
Tax Rates for Albuquerque (zip 87116)
- The Sales Tax Rate for Albuquerque (zip 87116) is 6.4%. The US average is 7.3%.
- The Income Tax Rate for Albuquerque (zip 87116) 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 Albuquerque (zip 87116)
- The average income of a Albuquerque (zip 87116) resident is $24,522 a year. The US average is $37,638 a year.
- The Median household income of a Albuquerque (zip 87116) resident is $64,018 a year. The US average is $69,021 a year.