Cost of Living in El Cerro Mission, NM

With a cost of living index of 80, El Cerro Mission, NM is a very affordable place to live. Living here is 20% cheaper than the national average and 6% below the New Mexico state average of 86. El Cerro Mission is a smaller community of 5,101 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in El Cerro Mission's cost of living. The median monthly rent is $1,289 (2% below the US median of $1,319), and the median home value sits at $101,000 (67% below the national median of $304,900). At current prices, the median home costs roughly 2x the median household income — well within traditional affordability guidelines.

The median household income in El Cerro Mission is $49,719, which is 34% lower than the national median of $75,149. Residents spend roughly 31% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Everyday prices in the Albuquerque, NM (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.