Cost of Living in Los Ranchos de Albuquerque, NM

With a cost of living index of 99, Los Ranchos de Albuquerque, NM is right around the national average in cost. Living here is 1% cheaper than the national average and 13% above the New Mexico state average of 86. Los Ranchos de Albuquerque is a smaller community of 5,869 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Los Ranchos de Albuquerque's cost of living. The median monthly rent is $990 (25% below the US median of $1,319), and the median home value sits at $442,100 (45% above the national median of $304,900). At current prices, the median home costs roughly 6.2x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Los Ranchos de Albuquerque is $70,801, which is 6% lower than the national median of $75,149. Residents spend roughly 17% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

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.