Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Rio Rancho area can be challenging. Home prices in Rio Rancho are now at a median cost of $226,324, higher than the New Mexico average of $199,923.
The average cost of rent is $1,333/mo in Rio Rancho, primarily driven by the current value of real estate in the Rio Rancho area. While nearly 27.04% of residents own their homes outright in Rio Rancho, 20.24% rent.
Housing affordability isn’t just about home prices, though. The average household income in Rio Rancho is $6,211 per month. Households that rent pay about 21.47% of their income on rent here. Rio Rancho's most expensive areas are in the central regions, while the cheapest areas are in the southwestern parts of the city.
Nearby Cities
- Corrales, NM: higher priced homes
- Ranchitos, NM: higher priced homes
- Paradise Hills, NM: higher priced homes
- Bernalillo, NM: equally priced homes
- North Valley, NM: higher priced homes
- Los Ranchos de Albuquerque, NM: higher priced homes
- El Llanito, NM: higher priced homes
- Albuquerque, NM: equally priced homes
- Placitas, NM: higher priced homes
- Cedar Crest, NM: higher priced homes
Cities with Similar Populations
- Mansfield, TX: higher priced homes
- Macomb, MI: higher priced homes
- Madison, AL: higher priced homes
- Manhattan, NY: higher priced homes
- Lauderhill, FL: less expensive homes
- Lehi, UT: higher priced homes
- Lewisville, TX: higher priced homes
- Livermore, CA: higher priced homes
- Lawrence, MA: higher priced homes
- Lawrence, KS: equally priced homes
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