Cost of Living in Albuquerque, NM
Population 562,218 · Census ACS 2020–2024 5-year estimates
The median rent in Albuquerque, NM is $1,145/month, 7% higher than the New Mexico median and 19% lower than the U.S. median. The median home value is $291,500, 12% lower than the national median. Households earn a median of $68,317 a year, 7% higher than the state median.
Affordability
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Albuquerque vs. New Mexico vs. U.S.
| Albuquerque | New Mexico | U.S. | |
|---|---|---|---|
| Median rent | $1,145 | $1,067 | $1,413 |
| Median home value | $291,500 | $248,100 | $332,700 |
| Median household income | $68,317 | $64,059 | $80,734 |
| Homeownership rate | 61.8% | 70.0% | 65.2% |
| Bachelor's degree or higher | 39.2% | 31.0% | 35.7% |
| Poverty rate | 15.5% | 17.8% | 12.5% |
| Unemployment rate | 5.4% | 6.0% | 5.2% |
| Work from home | 15.0% | 12.2% | 15.1% |
| Median age | 38.8 | 39.4 | 38.9 |
FAQ
What is the average rent in Albuquerque, NM?
The median gross rent in Albuquerque, NM is $1,145 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Albuquerque, NM?
Using the common 30% rule, renting a median-priced home takes about $45,800 a year in gross income.
Is Albuquerque, NM expensive to live in?
Rent there is 19% lower than the U.S. median, and the median home costs about 4.3 times the median household income.
Other cities in New Mexico
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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