Cost of Living in Edgewood, NM
Population 6,122 · New Mexico · Data vintage 2023
(100 = US avg)
Edgewood's economy is tied closely to the extraction industries that dominate much of New Mexico. Median household incomes of $81,227 run at or above national figures despite the small population — a direct signal of the wage premium that mining, oil, and gas employers pay. Home values of $278,000 keep the overall cost equation favorable. At 6.1%, the local unemployment rate runs well above the US figure, pointing to structural rather than cyclical labor-market issues.
Located 25 miles east of Albuquerque, Edgewood falls within that metro's commuting orbit. Housing prices track closely with Albuquerque's $267,000 median.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Edgewood
The median home value in Edgewood is $278,100 — 9% below the national median of $305,000. Median rent runs $938/month, 29% lower than the national median of $1,314/month. The median household income of $81,227/year is 9% higher than the US median of $74,580. The local unemployment rate is 6.1%, 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, Edgewood has a cost of living index of 83 versus the US average of 100, meaning it is 17% less expensive.
Edgewood 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 Edgewood, NM?
Edgewood has a cost index of 83 (100 = national average). It is 17% below the national average.
What is average rent in Edgewood, NM?
The median gross rent in Edgewood is $938 per month based on 2023 Census data.
What is the average home price in Edgewood?
The median home value in Edgewood is $278,100 according to Zillow and Census data.
What is the median income in Edgewood?
The median household income in Edgewood is $81,227 per year (2023 ACS 5-year estimates).
What is the sales tax in Edgewood, NM?
The combined state and local sales tax rate in Edgewood is 7.7%. The New Mexico state income tax top rate is 5.9%.
Is Edgewood, NM affordable?
Yes, Edgewood is generally considered affordable, with a cost of living index of 83 — about 17% below the US national average of 100.
What is the weather like in Edgewood?
Edgewood 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.
Edgewood at a Glance
- Population
- 6,122
- Median Income
- $81,227
- Home Value
- $278,100
- Median Rent
- $938/mo
- Unemployment
- 6.1%
- Avg High Temp
- 70.3°F
- Sales Tax
- 7.7%
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New Mexico Rankings
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