Albuquerque, NM (87123) is known for its beautiful landscapes, vibrant culture, and great local businesses. The 2 bedroom rent in Albuquerque is $980 which is much lower than the US average of $1,430. This makes it an attractive option for individuals and families looking to stay within a budget. Grocery costs in Albuquerque are also much lower than the national average with a grocery cost index of 96 versus 100 in the US. Local companies such as Manzano Natural Foods, El Modelo Bakery and Torino's Italian Restaurant offer quality products and services at reasonable prices. All in all, Albuquerque's low cost of living makes it an ideal place to live for those looking to save money.
Albuquerque (zip 87123) has an unemployment rate of 7.4%. The US average is 6.0%.
Albuquerque (zip 87123) has seen the job market increase by 3.3% 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 87123)
- The Sales Tax Rate for Albuquerque (zip 87123) is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Albuquerque (zip 87123) 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 87123)
- The average income of a Albuquerque (zip 87123) resident is $25,589 a year. The US average is $28,555 a year.
- The Median household income of a Albuquerque (zip 87123) resident is $53,544 a year. The US average is $69,021 a year.