Thinking of moving to Albuquerque, New Mexico, and wondering what it’s like to live in the Duke City? Of course, one of your considerations will be how expensive it is to live in Albuquerque. Fortunately, the cost of living in Albuquerque is generally lower than other cities in the United States. According to Numbeo, a cost-of-living database, Albuquerque scores at 72.3, compared to San Jose, California, at 89.9, San Francisco at 99.8, or New York City at 100, for example. Other data shows that the cost of living in the Duke City is 7% lower than the national average.
Housing and Grocery Expenses
Rent in Albuquerque is also lower than the national average. New York ranks at 100 on Numbeo’s list, while Albuquerque scores at 42.8. The rent for a one-bedroom apartment averages about $820 per month, again depending on where you’re looking and what you want in terms of amenities.
If you’re looking for a house to buy or rent a house in Albuquerque, you’ll have a variety of great neighborhoods from which to choose. Of course, your cost of living depends on your lifestyle! Do you want an expensive home in the foothills with killer views? You’ll be paying more for that than someone who lives in a standard subdivision. Fortunately for your wallet, utility costs in Albuquerque are also lower than average.
If your grocery list leans towards prime cuts and caviar, your grocery bill will be higher. But overall, you should be able to get more for your dollar than in many other cities as Albuquerque scores at 66.8 on the groceries index on Numbeo.
Transportation costs in Albuquerque are also affordable. Bus rates are low, only $1 a ride without a pass, and gasoline costs much less than in states like California. Depending on your needs, you may be able to navigate the city using public transportation rather than investing in a car.
If you want to travel farther afield, you can take the affordably priced Rail Runner Express for a trip over to Santa Fe or hop on Amtrak trains from Albuquerque to destinations around the country. It’s also convenient that the state’s largest airport, the Albuquerque Sunport, is here for ease of travel throughout the state, nation, and even the world. No need for a long road trip just to get to the airport when you live in Albuquerque!
Other New Mexico Cities
You may be wondering how the cost of living in Albuquerque compares to other cities in the Land of Enchantment, like Santa Fe. Santa Fe’s housing can be more expensive than Albuquerque, especially in the more desirable neighborhoods. In fact, many people live in the Duke City and use the Rail Runner to commute to jobs in the City Different. But determining if it is cheaper to live in Albuquerque or Santa Fe depends a lot on your lifestyle. Due to Santa Fe’s worldwide reputation as a cultural and culinary destination, treats like enjoying high-end restaurants are more expensive there. Healthcare is slightly less expensive in Albuquerque because there are more medical facilities in this much larger city.
Compared to other cities in New Mexico, living in Albuquerque is more expensive than some, such as the state’s second-largest city, Las Cruces in the south, or other smaller cities. But you can’t beat the opportunities that await in the state’s largest city, from restaurants and shopping to museums and cultural experiences.
How much do you need to make to live comfortably in Albuquerque?
Well, of course, that depends on what’s comfortable to you! Are you looking for a one-bedroom apartment or a luxurious home in the foothills? Do you eat out many times per week or prefer to whip up meals at home? Does your idea of the perfect weekend include a hike in the Sandia Mountains or dinner at a fine restaurant? These and other factors will help determine how much you’d need to earn. However, according to a report by GOBankingRates, a household income of $56,020 is considered necessary to live comfortably in Albuquerque, assuming a 50-30-20 budget rule. This means that 50 percent of income goes towards necessities such as housing, food, and utilities, 30 percent goes towards discretionary spending, and 20 percent goes towards savings.
There are a lot of factors to consider when you’re thinking about relocating and the cost of living is just one. If you’re considering a move to Albuquerque, you’ll also want to consider the climate, quality of life, job opportunities, and much more. Explore Albuquerque.com for answers to these questions and more!