Los Ranchos de Albuquerque, Corrales, Carlsbad: These cities aren’t just some of the best places to live in New Mexico. They are also home to some of the richest people in the Land of Enchantment.
Los Ranchos de Albuquerque in particular houses the richest residents in the state thanks, in part, to a median household income of $64,304 and a ridiculously low poverty rate of 5.907461157589211%.
If you’re thinking of moving to one of these towns, you’ll probably need to start saving. The richest places in New Mexico share common characteristics such as having a genius level populous, sky high home prices, and a Pleasantville level of married couples.
How did we come up with these mega wealthy cities? We analyzed Census data from the 2017-2021 American Community Survey for the 34 places in New Mexico with more than 5,000 people.
Here are the 10 richest places in New Mexico for 2023:
For more on how we calculated the top ten, read on or skip to the end for the full list of the richest cities in New Mexico.
Rich people not your cup of tea? Feel free to check out some more reading about New Mexico:
The 10 Richest Cities In New Mexico For 2023
1. Los Ranchos De Albuquerque
Rank Last Year: 3 (Up 2)
Median Income: $64,304
Unemployment Rate: 1.3%
Poverty Rate: 5.9%
More on Los Ranchos De Albuquerque: Real Estate | Photos
Rank Last Year: 1 (Down 1)
Median Income: $93,899
Unemployment Rate: 4.3%
Poverty Rate: 2.9%
More on Corrales: Real Estate | Photos
Rank Last Year: 2 (Down 1)
Median Income: $70,745
Unemployment Rate: 2.7%
Poverty Rate: 15.5%
More on Carlsbad: Real Estate | Photos
4. Los Lunas
Rank Last Year: 5 (Up 1)
Median Income: $65,617
Unemployment Rate: 4.6%
Poverty Rate: 10.3%
More on Los Lunas: Real Estate | Photos
Rank Last Year: 4 (Down 1)
Median Income: $72,725
Unemployment Rate: 5.6%
Poverty Rate: 9.6%
More on Edgewood: Real Estate | Photos
6. Santa Fe
Rank Last Year: 6 (No Change)
Median Income: $61,990
Unemployment Rate: 4.9%
Poverty Rate: 13.3%
More on Santa Fe: Real Estate | Photos
7. Rio Rancho
Rank Last Year: 7 (No Change)
Median Income: $70,615
Unemployment Rate: 6.7%
Poverty Rate: 7.1%
More on Rio Rancho: Real Estate | Photos
Rank Last Year: 15 (Up 7)
Median Income: $61,582
Unemployment Rate: 5.4%
Poverty Rate: 18.7%
More on Artesia: Real Estate | Photos
Rank Last Year: 9 (No Change)
Median Income: $56,366
Unemployment Rate: 5.6%
Poverty Rate: 16.2%
More on Albuquerque: Real Estate | Photos
Rank Last Year: 8 (Down 2)
Median Income: $47,284
Unemployment Rate: 2.0%
Poverty Rate: 22.6%
More on Bloomfield: Real Estate | Photos
Methodology: How We Determined The Richest Places In New Mexico For 2023
The first thing that comes to most people’s minds when they think about determining the richest places is to simply identify personal incomes. After all, rich people have really high salaries.
However, we don’t believe that one statistic wholly encompasses what it means to be one of the “richest places”. So we looked at this set of criteria from the newly released 2017-2021 American Community Survey:
- Poverty Level
- Median Household Income
- Unemployment Rate
Median household income is the most digestible way to understand how rich a place really is. The unemployment rate tries to capture the prospects for more people to become rich. If more people are employed, the richer the future looks.
After we collected the data for all 34 places with more than 5,000 people in New Mexico, we ranked each place from 1 to 34 for each of the criteria, with 1 being the richest.
We then averaged all the rankings for a place into a “Rich Score” with the place having the lowest overall Rich Score, Los Ranchos de Albuquerque, crowned the “Richest City In New Mexico For 2023”. You can download the data here.
You can learn more about the top ten below or skip to the end to see the rankings for all 34 places.
Summary: The Wealthiest Places In New Mexico For 2023
Like we said earlier, when we set out to identify the richest places in New Mexico, we weren’t sure what we’d encounter, but it ended up being some of the best places to live in New Mexico.
When you look at the data, the cities and places mentioned above meet the criteria for being at the very top of the income ladder for everyone that lives there.
If you’re curious enough, here are the poorest cities in New Mexico, according to data:
2nd Poorest: Silver City
3rd Poorest: Truth or Consequences
For more New Mexico reading, check out:
- Safest Places In New Mexico
- Most Dangerous Cities In New Mexico
- Best Places To Raise A Family In New Mexico
Detailed List Of The Richest Cities In New Mexico
|1||Los Ranchos De Albuquerque||3.33|
|32||Truth Or Consequences||30.67|