Did the Cost of Living in Albuquerque, NM increase in 2022? Albuquerque, NM area prices were up 2.5% from a year ago. The largest increases were found in Transportation, Food, and Housing.
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About Albuquerque, New Mexico According to the United States Census Bureau, Albuquerque has a total area of 189.5 square miles (490.9 km2), of which 187.7 square miles (486.2 km2) ....More
The federal minimum wage is $7.25 per hour while New Mexico's state law sets the minimum wage rate at $11.5 per hour in 2022. Demands for a living wage that is fair to workers have resulted in numerous location-based changes to minimum wage levels. View future changes in the minimum wage in your location by visiting
Minimum Wage Values in Albuquerque, NM
Based on this cost of living comparison, you can see:
If you move from Chicago IL, Dallas, TX, or Miami, FL, the percent increase of your cost of living could be 22.8%, 37.8%, and 24.8%. Looks like this move could have a negative net change in disposable income, so please think carefully!
If you move from New York, NY, San Francisco, CA, or Washington, DC, the percent reduction of your cost of living could be -43.50%, -23%, and -20.10%, that's good news to you that you could be looking at a positive net change in disposable income.
About Albuquerque, NM
According to the United States Census Bureau, Albuquerque has a total area of 189.5 square miles (490.9 km2), of which 187.7 square miles (486.2 km2) is land and 1.8 square miles (4.7 km2), or 0.96%, is water.
Albuquerque lies within the northern, upper edges of the Chihuahuan Desert ecoregion, based on long-term patterns of climate, associations of plants and wildlife, and landforms, including drainage patterns. Located in central New Mexico, the city also has noticeable influences from the adjacent Colorado Plateau semi-desert, Arizona-New Mexico Mountains, and Southwest plateaus and plains ...
Source: Wikipedia (as of 04/11/2019). Read more from Wikipedia
Comments about the Cost of Living in Albuquerque, NM
What are the cheapest grocery stores?
Some stores like Fry's offer frequent discounts or loyalty programs that can save you even more at the checkout. Since groceries are an essential part of you cost of living, take advantage of discounts whenever you can. (2022-05-27salary.com)
Are there good recreational opportunities in or near Albuquerque, NM?
Albuquerque, NM does not have a major sports team, but don’t worry, check out local colleges and high school sports schedules. These games usually have very cheap tickets and the spirit and enthusiasm of the crowd often makes up for the level of skill. (2022-05-27salary.com)
Are there any good ways to save money on Cable TV and internet service in Albuquerque, NM?
The average cost of internet access in the U.S. is $66.20 per month. There are many providers and various packages that are offered, many that bundle internet, cable, and phone together. Pricing for various packages can vary a lot even in the same location. You should evaluate the options based on your usage and preferences and pick the best fit for your needs. One tip to reduce this cost and your overall cost of living, is to get cable service from another source like Direct TV, Netflix, Sling, Amazon Prime or others. (2022-05-27salary.com)
I am nervous about moving, what is the typical cost of moving to another city and what should I have to think about?
The average cost of moving to another state is around $5,600 for a distance of 1,200 miles. This price can vary a lot if the distance is greater and depending on how much is being moved. Even if your employer is covering the cost of a move, there will still be costs that are not covered. A cost that typically occurs is that your existing furniture and accessories are either too large, too small, or not appropriate for your new home. You may find that after you move, you will need to purchase many new items for the new location, for example, window coverings, rugs, lighting, and outdoor gear. Make sure you budget for these types of expenses and include them in the first year’s cost of living at your new location. Finally, although there is no dollar cost, is the stress of moving, which will increase if you have children or pets. Make sure you prepare in advance for what additional TLC those kids and pets will need to have a good move. (2022-05-27salary.com)
Electricity bills are a big part of my current cost of living and can be really high, what is the cost of electricity in Albuquerque, New Mexico?
Electric costs in Albuquerque,NM are currently about average when compared to other states. Since a year ago the price of electricity in New Mexico has gone down about 0.298%. Electric costs will contribute to the energy component of your overall cost of living. (2022-05-27salary.com)
I have a child, how much will child care cost per month in Albuquerque, New Mexico ?
It is difficult to exactly predict the cost of child care in any city, which for parents, is a large part of the cost of living. There are different arrangements and lengths of time that are needed to care for a child, and costs may vary a lot depending on the services provided. Based on the state average, for Albuquerque child care for a child up to 3 years could cost $7942 per year. New Mexico, is ranked NO. 37 in annual cost of child care in the U.S. (2022-05-27salary.com)
How do rental housing prices in Albuquerque,New Mexico impact the overall cost of living?
I am single and live in Albuquerque,NM, I rent a small 1 bedroom and the monthly rent is $581 . Rent contributes to a large part of the overall cost of living in Albuquerque,NM, I try to economize by having a small apartment. (2022-05-27salary.com)
I know there are many types of taxes that contribute to the cost of living in Albuquerque, New Mexico, will the overall tax expense be high or low?
Good question. Based on Individual income taxes (which you will pay on earnings), Sales taxes (pay for your purchases), property taxes (on your home or indirectly on your rent), unemployment insurance taxes (from your income), and general business taxes (impacting employers ability to offer jobs and good pay), in Albuquerque, the overall tax climate compared to the rest of the country is in the middle. (2022-05-27salary.com)
I hate to drive in traffic, does Albuquerque have traffic problems?
Unfortunately, driving in Albuquerque, New Mexico is not very easy and may take up a lot of your time. It is ranked as number 76 in the United States, making it below average in driver friendliness. This means that the time and ease of your driving times will impact your cost of living, since driving in heavy and slow moving traffic uses a lot of gas. (2022-05-27salary.com)
What is the average commute time in Albuquerque, New Mexico?
In Albuquerque, NM, the average commute time is about 26.44 minutes. This can vary depending on the time of day, day of week, and the weather and road conditions. If the weather is bad, commute time can double! You should factor this commuting time into your overall cost of living, since your time has value. (2022-05-27salary.com)
How much is a monthly pass for public transit in Albuquerque, New Mexico?
The cost of a monthly transit pass in Albuquerque, NM is around $30.00. Ask your employer if they offer discounted passes to save even more money and reduce your cost of commuting and overall Cost of Living (COL). (2022-05-27salary.com)
Cost of Living Frequently Asked Questions
What is a Cost of Living index and how is it used?
In the simplest terms, a Cost of Living index is the estimated amount that represents the cost of the basic necessities required for an individual to live. A cost of living or COL estimate may typically include estimates for housing, food, energy, medical care, transportation, taxes, and other necessities. A COL index may be used to measure what the cost difference would be for a person living in a certain location compared to another location. This cost of living comparison helps individuals make decisions about where they would like to live and what they can afford based on the costs in that location. A cost of living comparison can provide guidance about how an increase or decrease in these basic living expenses impacts necessary spending for an individual or a family.
What factors are included in estimating your cost of living?
The Salary.com cost of living calculator estimate is based on data related to five general categories: housing, food, healthcare, transportation, and energy. These are the universally recognized core components of any cost of living estimate and represent those expenses that apply to everyone. Obviously, there may be other factors that could contribute to your particular cost of living situation and not everyone has the same spending habits. For example, education and/or childcare costs might not apply to everyone, but for those who have those expenses, they could be significant and should be considered when you evaluate your cost of living comparison.
The Salary.com cost of living calculator is unique in that it also incorporates current salary data for thousands of jobs specific to a chosen home or work location to provide a more refined estimate of the cost of living variations. You can see how your job and your salary will be impacted by a change of location. If you live in one location but work in another, the cost of living calculator will make those adjustments to provide an accurate estimate of the change in COL. The Salary.com cost of living calculator helps you to make cost of living comparisons cost comparisons easily and quickly.