Cost of Living in Albuquerque, NM

• Overall Cost: Albuquerque offers a relatively moderate cost of living compared to the national average. It is approximately 5% lower than the U.S. average, making it an affordable option for residents.
• Groceries and Utilities: Prices for groceries are slightly below average, while utility costs are generally in line with national figures.
• Transportation: Public transportation is affordable, and gas prices are often similar to or slightly below the national average.

Housing Market

• Home Prices: The median home price in Albuquerque is significantly lower than the national median, making homeownership more accessible.
• Rental Market: Rent for apartments or houses is reasonable, with prices often lower than many other metropolitan areas in the U.S.
• Property Taxes: These are relatively low, contributing positively to housing affordability.

Quality of Life

• Living Comfortably: With an annual income of $71,175, a resident can live quite comfortably, especially when housing and daily expenses are considered.
• Recreation and Lifestyle: Albuquerque offers numerous outdoor recreational activities, cultural events, and a vibrant arts scene, enhancing the quality of life.

Access to Healthcare

• Healthcare Facilities: Albuquerque has a range of healthcare facilities, including top-ranked hospitals and specialized medical centers.
• Cost of Healthcare: Healthcare costs are generally on par with national averages, but availability and quality of care are high.

Quality of K-12 Schools

• Public Education: The quality of K-12 schools varies throughout the city, with some schools performing above national standards, while others may require improvement.
• Private and Charter Schools: There are several well-regarded private and charter schools that offer alternatives to public schooling.

Summary of Assessment

Living in Albuquerque, NM, with an income of $71,175 annually offers a good quality of life. The city's relatively low cost of living, affordable housing market, and access to healthcare contribute to financial comfort and stability. The availability of leisure activities and the proximity to nature enhance life satisfaction. While the public education system has variability, there are numerous alternatives available. Overall, Albuquerque strikes a balance between affordability and quality living amenities for its residents.