Cost of Living in Albuquerque, NM
Population 562,488 · New Mexico · Data vintage 2023
(100 = US avg)
With a population over half a million, Albuquerque functions as the economic anchor for a much larger metropolitan region.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Albuquerque
The median home value in Albuquerque is $266,700 — 13% below the national median of $305,000. Median rent runs $1,085/month, 17% lower than the national median of $1,314/month. The median household income of $65,604/year is 12% lower than the US median of $74,580. The local unemployment rate is 5.3%, above the national average of 4.8%. New Mexico's top state income tax rate is 5.9% and the combined sales tax is 7.7%. The climate averages highs of 70.3°F and lows of 45.5°F, with about 7.9" of annual snowfall. Overall, Albuquerque has a cost of living index of 85 versus the US average of 100, meaning it is 15% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 48 | 54 | 63 | 70 | 80 | 90 | 91 | 89 | 83 | 71 | 57 | 47 |
| Low °F | 26 | 30 | 36 | 43 | 52 | 62 | 67 | 65 | 58 | 46 | 34 | 27 |
| Precip" | 0.36 | 0.43 | 0.46 | 0.51 | 0.44 | 0.57 | 1.64 | 1.31 | 1.15 | 0.87 | 0.57 | 0.53 |
| Snow" | 1.4 | 1.5 | 0.7 | 0.3 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.3 | 0.9 | 2.8 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Albuquerque, NM?
Albuquerque has a cost index of 85 (100 = national average). It is 15% below the national average.
What is average rent in Albuquerque, NM?
The median gross rent in Albuquerque is $1,085 per month based on 2023 Census data.
What is the average home price in Albuquerque?
The median home value in Albuquerque is $266,700 according to Zillow and Census data.
What is the median income in Albuquerque?
The median household income in Albuquerque is $65,604 per year (2023 ACS 5-year estimates).
What is the sales tax in Albuquerque, NM?
The combined state and local sales tax rate in Albuquerque is 7.7%. The New Mexico state income tax top rate is 5.9%.
Is Albuquerque, NM affordable?
Yes, Albuquerque is generally considered affordable, with a cost of living index of 85 — about 15% below the US national average of 100.
What is the weather like in Albuquerque?
Albuquerque has average high temperatures of 70.3°F and average lows of 45.5°F. Annual precipitation is 8.8". Average annual snowfall is 7.9". Data from NOAA 1991–2020 Climate Normals.
Albuquerque at a Glance
- Population
- 562,488
- Median Income
- $65,604
- Home Value
- $266,700
- Median Rent
- $1,085/mo
- Unemployment
- 5.3%
- Avg High Temp
- 70.3°F
- Sales Tax
- 7.7%
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