Cost of Living in Albuquerque, NM
Housing
The housing market plays a significant role in determining the cost of living in Albuquerque, NM.
- Housing Index: 90.0 / 100
- Median Home Price is: $272000
- Average Rent (2 BR Apartment): $1200 per month
- Average Rent (2 BR House): $1300 per month
When considering a move to Albuquerque, NM, the housing index of 90.0 suggests a reasonably affordable market compared to the national average. With a median home price of 272000 and average rent for a 2BR apartment at 1200 and a 2BR house at 1300, residents can find diverse housing options. This combination provides the potential for both home ownership and rental living, appealing to a range of demographics. Additionally, consider local amenities, schools, and job opportunities which can significantly impact your decision-making process.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Albuquerque, NM.
- Electricity Price: $14.44 USD (median by state)
- Natural Gas Price: Data is updating (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Albuquerque, NM could entail higher utility costs. Electricity costs sit at $14.44, while natural gas is priced at data unavailable per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Albuquerque is a financially viable option for your relocation.