Cost of Living: Albuquerque, NM vs Paterson, NJ (2026)

Albuquerque

New Mexico
80
VS

Paterson

New Jersey
106

Albuquerque is 26% cheaper than Paterson.

$1,085/mo ↓ 26%
Median Rent
$1,457/mo ↑ 34%
$65,604/yr ↑ 22%
Median Income
$53,766/yr ↓ 18%
$266,700 ↓ 20%
Home Value
$335,400 ↑ 26%
$1,149/mo ↓ 26%
Owner Costs
$1,553/mo ↑ 35%
562,488
Population
157,660

Tax Comparison

5.9%
Income Tax
10.75%
5.0%
Sales Tax
6.625%
0.67%
Property Tax
2.23%

Affordability

19.8%
rent-to-income
Affordability
32.5%
rent-to-income

Detailed Comparison

When comparing Albuquerque, NM and Paterson, NJ, the overall cost of living indices are 80 and 106 respectively (national median = 100). Rent is $372/month cheaper in Albuquerque, saving renters about $4,464/year.

Median household income is $11,838/year higher in Albuquerque. Home values also differ significantly — the median in Albuquerque is $266,700 compared to $335,400 in Paterson.

New Mexico has a lower income tax rate, making Albuquerque slightly more tax-friendly.

Frequently Asked Questions

Albuquerque vs Paterson — common questions

Is Albuquerque or Paterson cheaper to live in?
Based on our cost index, Albuquerque is cheaper to live in with an index of 80 compared to 106 (US average = 100).
What is the rent difference between Albuquerque and Paterson?
Median rent in Albuquerque is $1,085/month and in Paterson it's $1,457/month — a difference of $372/month.
Which city has higher income, Albuquerque or Paterson?
Median household income is $65,604 in Albuquerque and $53,766 in Paterson. Median household income is $11,838/year higher in Albuquerque.
How do taxes compare between New Mexico and New Jersey?
New Mexico has 5.9% income tax, 5.0% sales tax, and 0.67% property tax. New Jersey has 10.75% income tax, 6.625% sales tax, and 2.23% property tax.
Should I move to Albuquerque or Paterson?
It depends on your priorities. Albuquerque has a cost index of 80 with median rent of $1,085/mo, while Paterson has a cost index of 106 with rent of $1,457/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.
View Albuquerque details → View Paterson details →