A-
2%
Overall NAT. AVG.
0%
Goods & Services NAT. AVG.
13%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Rio Rancho New Mexico National
Cost of living10293100
Goods & Services10097100
Groceries9797100
Health care9697100
Housing11386100
Transportation9395100
Utilities9990100

An Overview of Cost of Living in Rio Rancho, NM

Getting a feel for the cost of living in Rio Rancho is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Rio Rancho is 102, which is 2% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

Everyday expenditures like food, housing, goods and services, transportation and health care in Rio Rancho are priced in a manner consistent with other areas. This means that residents of Rio Rancho can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

What Do Locals Say About the Cost of Living in Rio Rancho?

The most insightful perspective on a city comes from its residents. We recently surveyed 17 locals to gauge their perception of the cost of living in Rio Rancho. The feedback revealed that 53% of respondents found the cost of living to be reasonable, with prices on the decline, while 47% regarded it as notably expensive with prices that continue to rise.

Is Rio Rancho Affordable?

Wondering if Rio Rancho is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Rio Rancho, for example, the median home price is 8.7% higher than what folks pay nationally, and monthly rent is 21.9% higher than the usual rates. Plus, income levels matter too, with Rio Rancho boasting a median household income of $66,733, which is 20.6% higher than the national average.

What Factors can Influence the Cost of Living in Rio Rancho?

Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday goods and services like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Rio Rancho starts at 5% and the income tax rates start at 1.7%.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Rio Rancho, the groceries index registers 2.6% lower than the national average.

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Rio Rancho, healthcare costs are 4.3% lower than the national average.

Where is the Data From?

The cost of living data in Rio Rancho displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Rio Rancho is 10% higher than the New Mexico average
  • The cost of living in Rio Rancho is 2% higher than the national average
  • Rio Rancho housing is 13% higher than the national average
  • New Mexico general sales tax is 2% lower than the national average
  • New Mexico state income tax is 35% lower than the national average

Most Affordable Places to Live in and Around Rio Rancho

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Compare Rio Rancho, NM Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$74,251$6,188$1,732$2,228
      Renters$44,447$3,704$1,037$1,334
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Rio Rancho, NM, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Rio Rancho, homeowners have a median income of $74,251. Using that number, a maximum of $1,732 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $44,447, which means there is a maximum of $1,037 to be spent on the costs of renting a home or apartment.

      New Mexico Sales Tax

      State General Sales Tax With Max Surtax
      New Mexico 5% 8.688%

      New Mexico Income Tax

      State Income Tax (Low) Income Tax (High)
      New Mexico 1.7% 5.9%

      Goods & Services

      Item Rio Rancho National avg. Difference
      Haircut $31.90$24.2631.5%
      Beauty Salon $50.83$45.5611.6%
      Toothpaste $3.62$3.702.3%
      Shampoo $1.15$1.2810.5%
      Movie $12.54$12.133.3%
      Bowling $20.89$18.0016.1%

      Groceries

      Item Rio Rancho National avg. Difference
      Ground Beef $5.11$5.8412.5%
      Fried Chicken $1.32$1.5716.1%
      Milk $4.63$4.671.0%
      Potatoes $4.18$4.9315.3%
      Pizza $13.42$12.0911.0%
      Beer $11.07$10.416.4%

      Health Care

      Item Rio Rancho National avg. Difference
      Optometrist $136.89$125.688.9%
      Doctor $134.17$135.781.2%
      Dentist $111.42$113.291.7%
      Ibuprofen $10.43$10.652.1%
      Lipitor $380.06$468.6018.9%

      Housing

      Item Rio Rancho National avg. Difference
      Home Price $200,800.00$184,700.008.7%
      Avg. Mortgage Payment $1,905.97$2,346.6918.8%
      Apartment Rent $1,157.00$949.0021.9%

      Transportation

      Item Rio Rancho National avg. Difference
      Gasoline $3.50$3.461.1%
      Tire Balancing $43.87$59.9226.8%

      Utilities

      Item Rio Rancho National avg. Difference
      All Electricity $191.24$193.991.4%
      Phone $190.51$192.250.9%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Placitas CDP (Doña Ana County), NM7257921.1%
      Monterey Park, NM1,0978614.2%
      Santa Ana Pueblo, NM944909.8%
      Indian Hills, NM810928.2%
      Pueblo of Sandia Village, NM554946.0%
      Rio Rancho, NM97,9761022.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Orem, UT97,88311413.7%
      Edinburg, TX97,7348613.8%
      Yuma, AZ97,428973.2%
      Beaverton, OR98,56713535.0%
      Lawrence, KS97,348981.8%
      Rio Rancho, NM97,9761022.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.