Edgewood, NM Cost Of Living
Cost Of Living In Edgewood, NM Summary
Cost of living in Edgewood research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Edgewood is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in New Mexico, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Edgewood is 101, with 100 being the average.
The cost of living index in Edgewood is 1.0x higher than the national average.
Edgewood ranks as the #37 cheapest in New Mexico out of 45.
Edgewood ranks as the #2,735 cheapest out of 6,489 in the US.
The median home value in Edgewood is $374,795.
The median income in Edgewood is $81,227.
Table Of Contents
Edgewood's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Edgewood, NM?
According to the most recent data on the cost of living, Edgewood has an overall cost of living index of 101, which is 1.0x higher than the national index of 100.
Compared to New Mexico, Edgewood has a cost of living index that's 1.1x higher than New Mexico's index of 95.
The standard of living in Edgewood ranks as #37 most affordable out of the 45 places we measured in New Mexico. By definition, that implies Edgewood ranks as the #8 most expensive place in the Land of Enchantment.
For more reading on life in Edgewood, check out:
In New Mexico
In America
Edgewood Cost Of Living Vs. New Mexico
Six factors go into calculating the cost of living index in Edgewood. Here is how it fairs on each of the criteria:
The Services index in Edgewood is 101.
The Groceries index in Edgewood is 98.
The Health index in Edgewood is 94.
The Housing index in Edgewood is 109.
The Transportation index in Edgewood is 95.
The Utilities index in Edgewood is 99.
| Living Expense | Edgewood | New Mexico | National Average | |
|---|---|---|---|---|
| Overall | 101 | 95 | 100 | |
| Services | 101 | 96 | 100 | |
| Groceries | 98 | 96 | 100 | |
| Health | 94 | 95 | 100 | |
| Housing | 109 | 87 | 100 | |
| Transportation | 95 | 93 | 100 | |
| Utilities | 99 | 89 | 100 | |
Edgewood, NM Housing Cost Breakdown
Housing swings affordability the most between places in New Mexico, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Edgewood is $374,795.
The Median Rent in Edgewood is $938.
The Median Income in Edgewood is $81,227.
The Home Value To Income in Edgewood is 4.6x.
The Rent To Monthly Income in Edgewood is 0.14x.
| Statistic | Edgewood | New Mexico | United States |
|---|---|---|---|
| Median Home Value | $374,795 | $311,815 | $303,400 |
| Median Rent | $938 | $1,021 | $1,348 |
| Median Income | $81,227 | $62,125 | $78,538 |
| Home Value To Income | 4.6x | 5.0x | 3.9x |
| Rent To Monthly Income | 0.14x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Edgewood, NM Costs By Category
Detailed Edgewood Services Costs Vs. New Mexico
| Item | Edgewood | New Mexico |
|---|---|---|
| Shampoo | $1.15 | $1.28 |
| Movie | $12.54 | $12.13 |
| Bowling | $20.89 | $18 |
| Haircut | $31.9 | $24.26 |
| Beauty Salon | $50.83 | $45.56 |
Detailed Edgewood Groceries Costs Vs. New Mexico
| Item | Edgewood | New Mexico |
|---|---|---|
| Ground Beef | $5.11 | $5.84 |
| Fried Chicken | $1.32 | $1.57 |
| Milk | $4.63 | $4.67 |
| Potatoes | $4.18 | $4.93 |
| Pizza | $13.42 | $12.09 |
| Beer | $11.07 | $10.41 |
| Toothpaste | $3.62 | $3.7 |
Detailed Edgewood Health Costs Vs. New Mexico
| Item | Edgewood | New Mexico |
|---|---|---|
| Optometrist | $136.89 | $125.68 |
| Doctor | $134.17 | $135.78 |
| Dentist | $111.42 | $113.29 |
Detailed Edgewood Transportation Costs Vs. New Mexico
| Item | Edgewood | New Mexico |
|---|---|---|
| Gasoline | $3.5 | $3.46 |
| Tire Balancing | $43.87 | $59.92 |
Detailed Edgewood Utilities Costs Vs. New Mexico
| Item | Edgewood | New Mexico |
|---|---|---|
| All Electricity | $191.24 | $193.99 |
| Phone | $190.51 | $192.25 |
Edgewood SnackAbility
/10
Cost Of Living In Cities Around Edgewood
The cost of living varies in the cities and towns around Edgewood. Here's a quick look at the cost of living in the most populous nearby places:
Albuquerque, NM has a cost of living index of 99, 1.0x Edgewood.
Rio Rancho, NM has a cost of living index of 103, 1.0x Edgewood.
Santa Fe, NM has a cost of living index of 111, 1.1x Edgewood.
| City | Population | Cost Of Living | Vs. Edgewood |
|---|---|---|---|
| Albuquerque, NM | 562,488 | 99 | 1.0x |
| Rio Rancho, NM | 106,533 | 103 | 1.0x |
| Santa Fe, NM | 88,224 | 111 | 1.1x |
| North Valley, NM | 11,474 | 98 | 1.0x |
| Los Ranchos de Albuquerque, NM | 5,869 | 127 | 1.3x |
| Eldorado at Santa Fe, NM | 5,746 | 130 | 1.3x |
| White Rock, NM | 5,568 | 119 | 1.2x |
