What Are the Everyday Living Costs in Albuquerque, NM in 2024?
The average monthly cost of living in Albuquerque, NM is $3,357, which is 26% lower than the U.S. average ($4,521). The average monthly cost of rent is $1,161, while all other costs (utilities, transportation, groceries, and miscellaneous costs) amount to $2,196 per month.
Albuquerque, NM is ranked 53rd out of the 333 most populated cities in the U.S. for having the lowest cost of living. Therefore, it is considered as one of the cheaper cities in which to live in the U.S.
Cost of Living (for Renters / Monthly)
Rent
$1,161
Utilities
$421
Transportation
$124
Groceries
$687
Other
$965
Total
$3,358
What Are the Everyday Living Costs in Albuquerque, NM in 2024?
The average monthly cost of living in Albuquerque, NM for singles is $2,240, which is 24% lower than the U.S. average ($2,956). The average monthly cost of rent for singles is $724, while all other costs (utilities, transportation, groceries, and miscellaneous costs) amount to $1,516 per month.
Albuquerque, NM is ranked 57th out of the 333 most populated cities in the U.S. for having the lowest cost of living for singles. Therefore, it is considered as one of the cheaper cities for singles in which to live in the U.S.
Cost of Living (for Single Renters / Monthly)
Rent
$724
Utilities
$247
Transportation
$72
Groceries
$347
Other
$850
Total
$2,240
What Are the Everyday Living Costs in Albuquerque, NM in 2024?
The average monthly cost of living in Albuquerque, NM for couples is $3,369, which is 25% lower than the U.S. average ($4,519). The average monthly cost of rent for couples is $1,147, while all other costs (utilities, transportation, groceries, and miscellaneous costs) amount to $2,222 per month.
Albuquerque, NM is ranked 63rd out of the 333 most populated cities in the U.S. for having the lowest cost of living for couples. Therefore, it is considered as one of the cheaper cities for couples in which to live in the U.S.
Cost of Living (for Couple Renters / Monthly)
Rent
$1,147
Utilities
$413
Transportation
$145
Groceries
$694
Other
$971
Total
$3,370
What Are the Everyday Living Costs in Albuquerque, NM in 2024?
The average monthly cost of living in Albuquerque, NM for single parents is $3,205, which is 23% lower than the U.S. average ($4,172). The average monthly cost of rent for single parents is $1,147, while all other costs (utilities, transportation, groceries, and miscellaneous costs) amount to $2,058 per month.
Albuquerque, NM is ranked 47th out of the 333 most populated cities in the U.S. for having the lowest cost of living for single parents. Therefore, it is considered as one of the cheapest cities for single parents in which to live in the U.S.
Cost of Living (for Single Parent Renters / Monthly)
Rent
$1,147
Utilities
$404
Transportation
$96
Groceries
$603
Other
$954
Total
$3,204
What Are the Everyday Living Costs in Albuquerque, NM in 2024?
The average monthly cost of living in Albuquerque, NM for families is $4,613, which is 28% lower than the U.S. average ($6,392). The average monthly cost of rent for families is $1,624, while all other costs (utilities, transportation, groceries, and miscellaneous costs) amount to $2,989 per month.
Albuquerque, NM is ranked 54th out of the 333 most populated cities in the U.S. for having the lowest cost of living for families. Therefore, it is considered as one of the cheaper cities for families in which to live in the U.S.
Cost of Living (for Family Renters / Monthly)
Rent
$1,624
Utilities
$619
Transportation
$183
Groceries
$1,104
Other
$1,084
Total
$4,614
What Salary Do You Need to Live Comfortably in Albuquerque, NM in 2024?
Overall, on average, a gross annual salary of $52,804 is required for an average quality of life in Albuquerque, NM.
Is the Cost of Living High in Albuquerque, NM?
Albuquerque, NM is ranked 53rd out of the 333 most populated cities in the U.S. for having the lowest cost of living. Therefore, it is considered one of the cheaper cities in which to live in the U.S. Albuquerque, NM's average monthly rent is 45% lower than the U.S. average cost of rent.
Is $50,000 a Good Salary in Albuquerque, NM in 2024?
A gross annual salary of $50,000 in Albuquerque, NM will yield an average annual net salary of $43,657. Considering that the total average annual cost of living in Albuquerque, NM is $40,280, a gross annual salary of $50,000 will be sufficient to cover average living costs.
How Much Should You Pay for Rent in Albuquerque, NM?
The average monthly rent in Albuquerque, NM in the city center is $908 for a 1 bedroom apartment, $1,206 for a 2 bedroom apartment and $1,609 for a 3 bedroom apartment. Outside the city center, the average monthly rent in is $853 for a 1 bedroom apartment, $1,108 for a 2 bedroom apartment and $1,402 for a 3 bedroom apartment.