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.