Rio Rancho is a city located in New Mexico with a population of 87,144. It is known for its beautiful landscapes and vibrant culture due to its proximity to Albuquerque. The area has many housing options available for rent. For instance, the average 2-bedroom rent is $1,650 compared to the US average of $1,430. Additionally, the Grocery Cost Index in Rio Rancho is 96 which is slightly lower than the national average of 100. With this lower cost of living, many local businesses have opened up in the area providing employment opportunities and more access to goods and services. Notable businesses include Frontier Restaurant Supply Inc., Brown's Automotive Inc., Mountain View Vet Hospital, and The UPS Store. All of these businesses provide great services to their community while helping keep prices low due to competition in Rio Rancho’s growing economy.
Rio Rancho (zip 87144) has an unemployment rate of 7.6%. The US average is 6.0%.
Rio Rancho (zip 87144) has seen the job market increase by 3.4% over the last year. Future job growth over the next ten years is predicted to be 37.9%, which is higher than the US average of 33.5%.
Tax Rates for Rio Rancho (zip 87144)
- The Sales Tax Rate for Rio Rancho (zip 87144) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Rio Rancho (zip 87144) 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 Rio Rancho (zip 87144)
- The average income of a Rio Rancho (zip 87144) resident is $27,421 a year. The US average is $28,555 a year.
- The Median household income of a Rio Rancho (zip 87144) resident is $77,687 a year. The US average is $69,021 a year.