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Cost of Living in Albuquerque

Is it better to rent or buy in Albuquerque? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$76,681
$1,330/mo

Median in area: $1,330

$294,895

Median in area: $294,895

$58,979

If you Rent

🔑
$1,475 /mo
Base Rent$1,330
Est. Utilities$145
% of Income23.1%
Pre-tax Residual$4,915

If you Buy

🏠
$1,941 /mo
P&I (6.5%)$1,491
Taxes & Ins$305
Est. Utilities$145
% of Income30.4%
Pre-tax Residual$4,449

Cost of Living FAQs

Is it cheaper to rent or buy in Albuquerque?›

Based on median housing data, renting is currently more affordable on a monthly basis in Albuquerque. The estimated all-in monthly cost for renting is $1,475, while owning a median-priced home with a 20% down payment is roughly $1,941 per month (a difference of $466).

How much do utilities cost in Albuquerque?›

The average monthly utility cost (electricity and natural gas) for a typical home in Albuquerque is approximately $145. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Albuquerque?›

To comfortably afford the median rent and utilities in Albuquerque without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $59,000 per year.