Cost of Living in Rio rancho, NM
Housing
The housing market plays a significant role in determining the cost of living in Rio rancho, NM.
- Housing Index: 90.0 / 100
- Median Home Price is: $331000
- Average Rent (2 BR Apartment): $1300 per month
- Average Rent (2 BR House): $1400 per month
When considering a move to Rio rancho, NM, the housing data presents a promising outlook. With a housing index of 90.0, your options appear to be relatively affordable compared to major urban areas. The median home price is set at 331000, a reasonable figure in the current market. Average rent for a 2-bedroom apartment is 1300, while a 2-bedroom house costs slightly more at 1400. This balance of housing costs encourages both renting and home buying, making it a potentially attractive locale for new residents seeking a vibrant community and an economical lifestyle.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Rio rancho, 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 Rio rancho, 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 Rio rancho is a financially viable option for your relocation.