Living Wage Calculation for Bernalillo County, New Mexico
| 1 ADULT | 2 ADULTS (BOTH WORKING) | |
|---|---|---|
| 0 Children | 2 Children | |
| Living Wage | $16.03 | $22.58 |
| Poverty Wage | $6.19 | $6.37 |
| Minimum Wage | $11.50 | $11.50 |
What’s a good salary in New Mexico?
Average Salary in New Mexico
| Annual Salary | Monthly Pay | |
|---|---|---|
| Top Earners | $79,571 | $6,630 |
| 75th Percentile | $65,425 | $5,452 |
| Average | $53,675 | $4,472 |
| 25th Percentile | $43,764 | $3,647 |
How much do you have to make to live comfortably in New Mexico?
The income needed to live comfortably in New Mexico is $42,445. 50% of this is for necessities, 30% is for discretionary spending, and 20% is for savings. According to Living Wage, a single person with no children can live off of $13.97 per hour in Mexico, or $26,880 a year.
What is the average annual income in New Mexico?
$51,243
Table
| Population | |
|---|---|
| Transportation | |
| Mean travel time to work (minutes), workers age 16 years+, 2016-2020 | 22.7 |
| Income & Poverty | |
| Median household income (in 2020 dollars), 2016-2020 | $51,243 |
What salary do you need to live in Albuquerque?
Income needed to live comfortably: $42,445 (down $1,450 from 2016)
What is the highest paying job in Albuquerque?
Physicians and Surgeons
Detailed List Of Highest Paying Jobs In Albuquerque
| Rank | Job Title | Average Salary |
|---|---|---|
| 1 | Physicians and Surgeons, All Other | $208,980 |
| 2 | Obstetricians and Gynecologists | $204,840 |
| 3 | Dentists, General | $160,390 |
| 4 | Family and General Practitioners | $156,520 |
Is New Mexico expensive to live?
Low Cost of Living
New Mexico is renowned for its low cost of living, about 3.1% lower than the national average. The average home in New Mexico costs roughly $151,000.
Is it cheaper to live in Texas or New Mexico?
Texas is 1.4% more expensive than New Mexico.
Is it cheaper to live in New Mexico or Arizona?
New Mexico is 1.3% cheaper than Arizona.
What is middle class income in NM?
According to the Census ACS 1-year survey, the median household income for New Mexico was $51,945 in 2019, the latest figures available. Compared to the median US household income, New Mexico median household income is $13,767 lower.
What is considered high income in New Mexico?
Per Capita Income: $27,230. 4.1% of Households in New Mexico are High Income Households that make over $200,000 a year.
What is considered middle class in Albuquerque?
In Pew’s analysis, members of the middle class are those with annual household income ranging between about $42,000 to $125,000 at the upper limit for a family of three. By that measure, the share of Americans living in middle-income households shrank from 55 percent in 2000 to 41 percent in 2014.
What is the cheapest and safest place to live in New Mexico?
The 5 Most Affordable Cities in New Mexico
- Santa Fe. Founded by the Spanish in 1610, Santa Fe, which is also the state capital, has a lot of history.
- Alamogordo.
- Rio Rancho.
- Carlsbad.
- Hobbs.
How much money do you need to live comfortably in Santa Fe New Mexico?
Summary about cost of living in Santa Fe, NM, United States: Family of four estimated monthly costs are 3,855$ without rent. A single person estimated monthly costs are 1,093$ without rent.
What are the pros and cons of living in New Mexico?
Pros and Cons Of Living In New Mexico
- Rich in culture.
- Good food and wine.
- Plenty of recreational options.
- An abundance of natural beauty.
- Low cost of living.
- Lackluster economy and job opportunities.
- Poor quality K-12 education system.
- Bad roads.
What jobs are in demand in New Mexico?
In-Demand Industries
- Healthcare. Healthcare is a critical, growing industry, both in New Mexico and across the country.
- Information Technology (IT)
- Science, Technology, Engineering, & Mathematics (STEM)
- Construction.
- Education.
Is moving to New Mexico a good idea?
Compared to all other states, New Mexico ranks in the top half of both the most affordable states to live in and the state with the lowest average taxes paid per household. This makes it a state that isn’t overpriced and is reasonable in order to experience some of the other great things on this list.
Who is the largest employer in New Mexico?
Federal Government
LARGEST EMPLOYERS IN NEW MEXICO
| Rank | Organization | Employees |
|---|---|---|
| 1 | Federal Government (see breakdown below) | 21766 |
| 2 | State of New Mexico (see breakdown below) | 18359 |
| 3 | Wal-Mart | 14022 |
| 4 | Sandia National Laboratories | 12206 |
Why is New Mexico so poor?
Poverty in New Mexico is mainly caused by the lack of well paying opportunities and unfavourable landscape for agriculture particularly in the rural areas.
What is the cheapest state to live in?
Mississippi
Mississippi. Mississippi is the cheapest state to live in in the United States. Overall, costs in the state are 17% lower than the national average. Housing costs in Mississippi are the lowest in the nation.
Where in New Mexico should you not live?
Here Are The 10 Most Dangerous Towns In New Mexico To Live In
- Roswell (population 48,623) Flickr/Clinton Steeds.
- Hobbs (population 34,543) Flickr/Chuck Coker.
- Albuquerque (population 553,684)
- Silver City (10,285)
- Socorro (population 9069)
- Taos (population 5722)
- Farmington (population 45,328)
- Artesia (population 11,389)
