If you're looking to find a home in New Mexico without stretching your budget too thin, you're in luck as several counties in the state stand out for their low cost of living, according to a ranking.
A ranking from Niche, an online data collection site that gathers and analyzes public data sets from the Department of Education, U.S. census and FBI, has ranked the Top 5 counties with the lowest cost of living in New Mexico.
Here is their ranking:
New Mexico counties with the lowest cost of living
Quay County
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Quay County
Cibola County
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Cibola County
Luna County
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Luna County
McKinley County
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Torrance County
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Torrance County
Lowest cost of living in Albuquerque
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1. Jarales
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Jarales is a suburb in Valencia County that offers a suburban rural mix feel and is a great place for many retirees. Jarales has some good public schools and job opportunities. The median household income in Jarales is $50,673 and the median rent is $547.
Jarales grade
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2. Santo Domingo Pueblo
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Santo Domingo Pueblo is a town in Sandoval County that offers a suburban rural mix feel. This is a great place for families and has great ethnic and economic diversity. The median household income in Santo Domingo Pueblo is $52,969 and the median rent is $666.
Santo Domingo Pueblo grade
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3. Meadow Lake
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Meadow Lake is a suburb in Valencia County where residents are met with a suburban rural mix feel. There are above average public schools in Meadow Lake and many families live here. The median household income in Meadow Lake is $36,525 and the median rent is $722.
Meadow Lake grade
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4. El Cerro
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El Cerro is a suburb in Valencia County with above average public schools, ranked highly for being one of the suburbs with the lowest cost of living in New Mexico. The median household income in El Cerro is $108,200 and the median rent is $1,000.
El Cerro grade
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5. Valencia
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Valencia is a suburb in Valencia County, rated highly for its suburban rural mix feel and above average public schools, and is ranked as one of the best areas for young professionals. The median household income in Valencia is $59,743 and the median rent is $615.
Valencia grade
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6. Belen
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Belen is a suburb in Valencia County that offers a sparse suburban feel. The public schools in Belen are above average and there are many retirees living here. The median household income in Belen is $38,838 and the median rent is $831.
Belen grade
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7. Los Chaves
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Los Chaves is a suburb in Valencia County with good housing opportunities, diversity, and a suburban rural mix feel. The median household income in Los Chaves is $77,364 and the median rent is $895.
Los Chaves grade
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8. Edgewood
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Edgewood is a town in Santa Fe County with a suburban rural mix feel, above average public schools, high diversity, and is one of the best places in the county to raise a family. The median household income in Edgewood is $70,568 and the median rent is $939.
Edgewood grade
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9. Bosque Farms
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Bosque Farms is a suburb in Valencia County with a suburban rural mix feel and above average public schools. Many retirees live in Bosque Farms, it is a diverse place, and is good for raising families. The median household income in Bosque Farms is $67,435 and the median rent is $870.
Bosque Farms grade
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10. Rio Communities
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Rio Communities is a suburb in Valencia County with a suburban rural mix feel, where most residents own their own homes. Many retirees live here and it is one of the most diverse suburbs in New Mexico. The median household income in Rio Communities is $45,175 and the median rent is $858.
