Cost of Living: Socorro, NM vs Monterey, CA
Housing
The housing market plays a significant role in determining the cost of living.
| Metric | Socorro | Monterey |
|---|---|---|
| Housing Index | 95.0 | 160.3 |
| Median Home Price | $209,000 | $1,135,000 |
| Average Rent (2 BR Apartment) | $1200 | $3000 |
| Average Rent (2 BR House) | $1300 | $3060 |
Housing Comparison: Socorro vs Monterey
- The median home price in Monterey is higher at $1,135,000, compared to $209,000 in Socorro.
- In Monterey, the rental for a two-bedroom apartment stands at $3,000, while it is $1,200 in Socorro.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living.
| Metric | Socorro | Monterey |
|---|---|---|
| Electricity Price | $14.44 | $32.99 |
| Natural Gas Price | $Data is updating | $16.99 |
| Other Utilities | $200 | $250 |
Utilities Comparison: Socorro vs Monterey
- Monterey has higher electricity costs at $32.99 per kWh, versus $14.44 in Socorro.
- Natural gas price data is currently unavailable.
- Monterey has higher utility expenses, averaging $250, while Socorro averages $200.