Cost of Living in Rio Rancho, NM
| Cost of Living in Rio Rancho, NM | Compared to State Average | Compared to National Average |
|---|---|---|
| Housing (Buy and Rent) | 6% higher | 7% lower |
| Utilities (Monthly) | 1% higher | 13% lower |
| Food | 1% lower | 4% lower |
| Healthcare | 1% lower | 1% lower |
| Transportation | 2% higher | 10% lower |
| Goods & Services | 2% lower | 0% |
The cost of living in Rio Rancho, NM is 1% higher than the state average and 5% lower than the national average. Rio Rancho, NM housing is 7% cheaper than the U.S average, while utilities are about 13% less pricey. When it comes to basic necessities such as food and clothing, groceries are around 4% cheaper in Rio Rancho, NM than in the rest of the country, while clothing costs around 0% .
Healthcare services such as doctor check-ups and dentistry cost 1% less here compared to the U.S. average. At the same time, non-necessary expenses such as entertainment and grooming services are 0% in Rio Rancho, NM.
Housing is the most significant expense for most American households. The cost of living in a certain city takes into account both the price of rent and the price of a home. The average monthly rent in Rio Rancho is $1,561, while home prices circle around $454,906.
Both owning and renting come with utility expenses. These costs include basic services such as energy and telecommunications. In Rio Rancho, energy bills cost around $165.83 per month.
Food is the most important necessity and its cost varies around the country. This section includes the prices of everyday foods such as produce, meat and dairy. A bottle of milk costs about $4.56 in Rio Rancho, a dozen eggs go for around $3.03 and a pound of potatoes circles around $3.67.
The benchmark for this category is based on the prices of family doctor visits and specialized services such as optometry. In Rio Rancho, an optometry check-up costs around $163.83, while a dentist appointment is priced $102.50 on average.
Transportation expenses depend on multiple factors, with fuel being the most important. A gallon of gas is priced around $3.07 in Rio Rancho, while getting your tires balanced will run you about $52.85.
The cost of clothing tells you how much more or less money you need to buy basic items such as jeans, shirts or slacks in a new city. A men's shirt costs around $41.83 here. Meanwhile, a pair of women's slacks will set you back around $35.12.
The cost of entertainment and everyday services is based on common expenses in each category. For a movie ticket in Rio Rancho, you should budget around $13.00 a month. When it comes to personal services, a haircut usually goes for $27.85, while dry cleaning costs about $12.17.
The cost of living also takes median household income into account, so you can estimate how much more or less you could be earning in a new city by comparing it to the income in your current area. In Rio Rancho, the median household income is $85,755.