Cost of Living: Lafayette, IN vs Socorro, NM
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Lafayette | Socorro |
|---|---|---|
| Housing Index | 90.0 | 95.0 |
| Median Home Price | $218,000 | $209,000 |
| Average Rent (2 BR Apartment) | $900 | $1200 |
| Average Rent (2 BR House) | $950 | $1300 |
Housing Comparison: Lafayette vs Socorro
- In Lafayette, the median home price is higher at $218,000, while in Socorro it is $209,000.
- Renting a two-bedroom apartment costs more in Lafayette at $900 than in Socorro at $1,200.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Lafayette | Socorro |
|---|---|---|
| Electricity Price | $14.89 | $14.44 |
| Natural Gas Price | $Data is updating | $Data is updating |
| Other Utilities | $250 | $200 |
Utilities Comparison: Lafayette vs Socorro
- Electricity costs are higher in Lafayette at $14.89 per kWh, compared to $14.44 in Socorro.
- Natural gas price data is currently unavailable.
- Other utility costs are higher in Lafayette at an average of $250, compared to Socorro with $200.