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Cost of Living in Metro New Mexico

Communities throughout Metro New Mexico offer a broad range of amenities and lifestyles that are both attractive and affordable. In New Mexico, the overall cost of living ranks around the national average. Add to that:

  • a business-friendly atmosphere
  • a great work ethic
  • some of the nation's shortest commute times
  • a strong and healthy economy
  • one of the best quality of life rankings in America

Together, you get one of the best values in the nation when it comes to cost of living.

The cost of living index produced by the Council for Community and Economic Research (C2ER) compares price levels for consumer goods and services where 100.0 denotes the national average for all participants. The index reflects cost differentials for a mid-management standard of living.

Cost of Living Index (2008 Annual Avg)

Phoenix, AZ - 101.1

Los Angeles, CA - 147.7   

Denver, CO - 105.0

Albuquerque, NM - 96.7

Las Vegas, NV - 107.9

Portland, OR -  116.1

Dallas, TX - 92.1
 

Cost of Living category breakdowns compared to base of 100 nationwide.

Cost of Living Index 2008 Annual Average Data

Albuquerque Rio RanchoNational

Composite Index

96.7

97.6

100

Housing

99.2

91.7

100

Transportation

95.8

96.6

100

Healthcare

97.4

104.4

100

Groceries

95.0

107.7

100

Utilities

87.1

81.8

100

Misc. Goods & Services

98.4

103.2

100


Utilities

PNM electric rates are significantly lower than southwestern states as well as the nation.

Current PNM rates vs. SW Regional Average rates through May 2007
(AZ, CA, CO, ID, MT, NM, NV, OR, TX, UT, WA and WY)
FERC Class

Current PNM Rates
(cents per kWh)

PNM vs. the RegionPNM vs. the U.S.

Residential

8.04

29.1% Lower

 22.7% Lower

Commercial

7.02

29.3% Lower

 25.0% Lower

Industrial

4.73

32.6% Lower

 22.7% Lower

All Sectors

7.03

23.4% Lower

 17.4% Lower

Source: PNM & Energy Information Administration data



 

New Mexico per capita personal income (2007)

Bernalillo County (Albuquerque) $34,983

Sandoval County (Rio Rancho) $29,476

Santa Fe County (Santa Fe) $42,184

Torrance County (Estanica Valley) $25,184

Valencia County (Belen/Los Lunas) $26,715