The cost of living index in Bernalillo, NM, stands at 92, slightly below the nationwide average of 100. This indicates that overall expenses in Bernalillo are 2% cheaper than the national average. Specifically, housing costs are 15% lower, while groceries, utilities, healthcare, and miscellaneous expenses are all within 5% of the national averages. Transportation expenses, however, are 2% higher. This balanced mix makes Bernalillo a cost-effective location compared to many other areas.
Bernalillo, NM, offers a cost of living that is generally below the nationwide average. Compared to the national average, which is set at 100, Bernalillo shows a cost of living index of 92. This means that overall, residents can expect to spend about 8% less on living expenses than the national average. This reduction is primarily due to a lower housing index of 85, which indicates that housing costs in Bernalillo are 15% below the national average.
When breaking down specific categories, Bernalillo's housing index stands out as the most affordable at 85. This is a significant advantage for residents, as it means they pay less for rent or mortgage compared to the average American. In contrast, transportation costs are slightly higher, with an index of 98, meaning they are 2% more expensive than the national average. Groceries, utilities, healthcare, and miscellaneous expenses also hover around the national average, with indices ranging from 90 to 95. These factors contribute to the overall lower cost of living, making Bernalillo an attractive option for those seeking affordable living conditions.