Rio Rancho, NM

Average · 96

New Mexico · Population 106,533 · Updated March 2026

$1,481
Median Rent / Month
$85,755
Median Income
$273,300
Median Home Value
$1,348
Owner Costs / Month

Affordability

How far your income goes in Rio Rancho

20.7%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in New Mexico

State-level tax rates that affect your costs

5.9%
Income Tax (Top Rate)
5.0%
Sales Tax
0.67%
Property Tax Rate

Estimated Annual Costs

$17,772
Annual Rent
$5,060
State Income Tax
$1,831
Property Tax (est.)

Cost of Living Overview

Rio Rancho has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 96 (where 100 equals the national median), Rio Rancho residents can expect to pay median rent of $1,481/month while earning a median household income of $85,755/year.

The median home value in Rio Rancho, NM is $273,300, with typical monthly owner costs around $1,348 including mortgage, insurance, and taxes. The median rent-to-income ratio of 20.7% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

New Mexico has a moderate income tax rate of 5.9%. Combined with a 5.0% sales tax rate and 0.67% effective property tax rate, the overall tax environment is a factor in the total cost of living in Rio Rancho.

Frequently Asked Questions

Common questions about living costs in Rio Rancho

What is the cost of living in Rio Rancho, NM?
The cost of living index in Rio Rancho, NM is 96 (US average = 100). Median monthly rent is $1,481, median household income is $85,755/year, and the median home value is $273,300.
Is Rio Rancho, NM affordable?
Yes, Rio Rancho is more affordable than the national average with a cost index of 96. The rent-to-income ratio is 20.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Rio Rancho, NM?
The median gross rent in Rio Rancho, NM is $1,481 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $17,772.
What is the median household income in Rio Rancho?
The median household income in Rio Rancho, NM is $85,755 per year. This compares to the national median of approximately $80,000.
What are the taxes like in New Mexico?
New Mexico has a top income tax rate of 5.9%, a sales tax of 5.0%, and an effective property tax rate of 0.67%.