Quality of Life in Albuquerque, NM on an Income of $123,225

Overview

Living in Albuquerque, NM, with an annual income of $123,225 offers a comfortable lifestyle, especially when considering the cost of living and housing market relative to the rest of the United States. This income allows for an advantageous position to enjoy many aspects of life in Albuquerque. Below, we explore several key components that contribute to this quality of life.

Cost of Living

• Lower than National Average: The cost of living in Albuquerque is generally below the national average.
• Affordable Utilities: Residents benefit from lower utility costs compared to many other parts of the U.S.
• Transportation Savings: Fuel and public transportation costs are quite manageable.
• Grocery and Dining Costs: Reasonably priced food options make it easy to maintain a budget-friendly lifestyle.

Housing Market

• Median Home Price: As of late 2023, the median home price in Albuquerque is around $325,000, which is relatively affordable compared to many larger metropolitan areas.
• Rental Market: Renting is also a viable option with moderate rental prices that are typically lower than those found in coastal cities.
• Property Taxes: These are relatively low, offering additional savings for homeowners.

Quality of Life

• Scenic Environment: Albuquerque lies in a picturesque location with access to natural beauty and outdoor activities.
• Cultural Richness: The city boasts a vibrant cultural scene with a plethora of festivals, galleries, and museums.
• Community and Safety: While crime rates are of concern in specific areas, tight-knit communities and neighborhood initiatives work towards improving safety and quality of life.

Access to Healthcare

• Healthcare Facilities: Albuquerque provides access to quality healthcare facilities, including the University of New Mexico Hospital and Presbyterian Hospital.
• Healthcare Costs: Generally lower than the national average, making medical services relatively affordable.
• Insurance Coverage: A good employment package often includes comprehensive health insurance, reducing out-of-pocket costs.

Quality of K-12 Schools

• Public Schools: Albuquerque Public Schools offer varied academic programs, with some schools recognized for their academic excellence.
• Private and Charter Schools: Numerous private and charter schooling options are available, offering alternatives for different educational preferences.
• Extracurricular Opportunities: A broad range of extracurricular activities are accessible to enhance children’s academic and personal growth.