Cost of Living: Albuquerque, NM vs Independence, MO (2026)

Albuquerque

New Mexico

Independence

Missouri

Albuquerque is 13% more expensive than Independence.

$1,085/mo ↑ 2%

Median Rent

$1,061/mo ↓ 2%

$65,604/yr ↑ 10%

Median Income

$59,480/yr ↓ 9%

$266,700 ↑ 60%

Home Value

$166,400 ↓ 38%

$1,149/mo ↑ 10%

Owner Costs

$1,046/mo ↓ 9%

562,488

Population

121,944

Tax Comparison

5.9%

Income Tax

4.95%

5.0%

Sales Tax

4.225%

0.67%

Property Tax

0.93%

Affordability

19.8%

rent-to-income

Affordability

21.4%

rent-to-income

Detailed Comparison

When comparing Albuquerque, NM and Independence, MO, the overall cost of living indices are 80 and 67 respectively (national median = 100). Rent is comparable in both cities, with less than $50/month separating them.

Median household income is $6,124/year higher in Albuquerque. Home values also differ significantly — the median in Albuquerque is $266,700 compared to $166,400 in Independence.

Missouri has a lower income tax rate, making Independence slightly more tax-friendly.

Frequently Asked Questions

Albuquerque vs Independence — common questions

Is Albuquerque or Independence cheaper to live in?

Based on our cost index, Independence is cheaper to live in with an index of 67 compared to 80 (US average = 100).

What is the rent difference between Albuquerque and Independence?

Median rent in Albuquerque is $1,085/month and in Independence it's $1,061/month — a difference of $24/month.

Which city has higher income, Albuquerque or Independence?

Median household income is $65,604 in Albuquerque and $59,480 in Independence. Median household income is $6,124/year higher in Albuquerque.

How do taxes compare between New Mexico and Missouri?

New Mexico has 5.9% income tax, 5.0% sales tax, and 0.67% property tax. Missouri has 4.95% income tax, 4.225% sales tax, and 0.93% property tax.

Should I move to Albuquerque or Independence?

It depends on your priorities. Albuquerque has a cost index of 80 with median rent of $1,085/mo, while Independence has a cost index of 67 with rent of $1,061/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.