Cost of Living in Corrales, NM
Population 8,557 · New Mexico · Data vintage 2023
(100 = US avg)
Home prices in Corrales run well above the national baseline, with a median of $550,000, though local incomes keep the cost-to-earnings ratio tighter than in coastal metros with comparable sticker prices. Median household earnings of $114,207 place the city among the better-paid New Mexico metros. At 6.3%, the local unemployment rate runs well above the US figure, pointing to structural rather than cyclical labor-market issues.
Corrales sits roughly 5 miles southeast of Rio Rancho — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 101% higher than Rio Rancho's $273,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Corrales
The median home value in Corrales is $549,700 — 80% above the national median of $305,000. Median rent runs $1,184/month, 10% lower than the national median of $1,314/month. The median household income of $114,207/year is 53% higher than the US median of $74,580. The local unemployment rate is 6.3%, 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, Corrales has a cost of living index of 144 versus the US average of 100, meaning it is 44% more expensive.
Corrales has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 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
Frequently Asked Questions
What is the cost of living in Corrales, NM?
Corrales has a cost index of 144 (100 = national average). It is 44% above the national average.
What is average rent in Corrales, NM?
The median gross rent in Corrales is $1,184 per month based on 2023 Census data.
What is the average home price in Corrales?
The median home value in Corrales is $549,700 according to Zillow and Census data.
What is the median income in Corrales?
The median household income in Corrales is $114,207 per year (2023 ACS 5-year estimates).
What is the sales tax in Corrales, NM?
The combined state and local sales tax rate in Corrales is 7.7%. The New Mexico state income tax top rate is 5.9%.
Is Corrales, NM affordable?
Corrales is above average in cost of living, with an index of 144 — about 44% higher than the national average.
What is the weather like in Corrales?
Corrales 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.
Corrales at a Glance
- Population
- 8,557
- Median Income
- $114,207
- Home Value
- $549,700
- Median Rent
- $1,184/mo
- Unemployment
- 6.3%
- Avg High Temp
- 70.3°F
- Sales Tax
- 7.7%
Nearby Cities
Explore county-level cost of living data
New Mexico Rankings
Similar Cost Cities
Cities in other states with comparable housing costs