Cost of Living: Rio rancho, NM vs Minneapolis, MN
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Rio rancho | Minneapolis |
|---|---|---|
| Housing Index | 90.0 | 120.0 |
| Median Home Price | $331,000 | $305,000 |
| Average Rent (2 BR Apartment) | $1300 | $1800 |
| Average Rent (2 BR House) | $1400 | $1840 |
Housing Comparison: Rio rancho vs Minneapolis
- In Rio rancho, the median home price is higher at $331,000, while in Minneapolis it is $305,000.
- In Minneapolis, the rental for a two-bedroom apartment stands at $1,800, while it is $1,300 in Rio rancho.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Rio rancho | Minneapolis |
|---|---|---|
| Electricity Price | $14.44 | $16.38 |
| Natural Gas Price | $Data is updating | $14.87 |
| Other Utilities | $250 | $250 |
Utilities Comparison: Rio rancho vs Minneapolis
- Minneapolis has higher electricity costs at $16.38 per kWh, versus $14.44 in Rio rancho.
- Natural gas price data is currently unavailable.
- Utility expenses are equal in both Rio rancho and Minneapolis averaging $250.