Living Wage Calculation for Bernalillo County, New Mexico
| 1 ADULT | 2 ADULTS (BOTH WORKING) | |
|---|---|---|
| 0 Children | 2 Children | |
| Living Wage | $13.87 | $19.78 |
| Poverty Wage | $6.13 | $6.30 |
| Minimum Wage | $9.00 | $9.00 |
Contents
What is a good salary in New Mexico?
Average Salary in Albuquerque, NM
| Annual Salary | Monthly Pay | |
|---|---|---|
| Top Earners | $80,876 | $6,739 |
| 75th Percentile | $66,498 | $5,541 |
| Average | $64,351 | $5,362 |
| 25th Percentile | $44,481 | $3,706 |
How much do you have to make to live comfortably in New Mexico?
50 percent for necessities: $21,222. 30 percent for discretionary spending: $12,734. 20 percent for savings: $8,489. Income needed to live comfortably: $42,445 (down $1,450 from 2016)
How much does the average person make in New Mexico?
$43,764 is the 25th percentile. Salaries below this are outliers. $65,425 is the 75th percentile.
What salary is considered livable?
The median necessary living wage across the entire US is $67,690. The state with the lowest annual living wage is Mississippi, with $58,321. The state with the highest living wage is Hawaii, with $136,437.
What is upper class salary?
For a family of three, that ranges from $40,100 to $120,400 for 2018 incomes in a recent Pew study.
What Is a Middle-Class Income?
| Income group | Income |
|---|---|
| Lower-middle class | $32,048 – $53,413 |
| Middle class | $53,413 – $106,827 |
| Upper-middle class | $106,827 – $373,894 |
Is the cost of living high in New Mexico?
An amount below 100 means New Mexico is cheaper than the US average. A cost of living index above 100 means New Mexico, New Mexico is more expensive.
New Mexico cost of living is 88.4.
| COST OF LIVING | New Mexico | United States |
|---|---|---|
| Grocery | 93.3 | 100 |
| Health | 82.6 | 100 |
| Housing | 83.6 | 100 |
| Median Home Cost | $246,000 | $291,700 |
Is it cheaper to live in New Mexico or Texas?
Cost of Living
New Mexico and Texas are both affordable places to live compared to the national average. However, cost of living is 5% higher in Texas, where larger cities and more expensive houses contribute to higher prices in almost every category.
Is it cheaper to live in Arizona or New Mexico?
What many retirees are finding is better deals, say experts: The median home in New Mexico costs just $151,900 and the cost of living is 3.1% lower than the national average. That makes much of the state far less expensive than Arizona’s most famous retirement havens.
Is moving to New Mexico a good idea?
People love living there for the low unemployment rate, reasonable cost of living, and stunning views. You can find an entire list of the best towns in NM to live in here. What are the most unique things to do in New Mexico?
What is the cost of living in Albuquerque New Mexico?
Albuquerque cost of living is 91.1
| COST OF LIVING | Albuquerque | New Mexico |
|---|---|---|
| Health | 81.1 | 82.6 |
| Housing | 88 | 83.6 |
| Median Home Cost | $257,400 | $246,000 |
| Utilities | 97.2 | 100.4 |
What is the minimum wage in New Mexico 2021?
$10.50
2021 Minimum Wage Rates
| Minimum Wage of | January 2020 | *Wage as of January 2021 |
|---|---|---|
| Minimum Wage | $9.35 | $10.50 |
| Tipped Employee (60% of minimum in 2021) | $5.50 | $6.30 |
What is a good hourly wage?
California
Living wage for a household with: One adult: $18.66 per hour. Two working adults: $15.13 per hour (per adult) Two working adults and two children: $27.08 per hour (per adult)
What is a livable yearly salary for one person?
Typical Expenses
| 1 ADULT | 2 ADULTS (1 WORKING) | |
|---|---|---|
| 0 Children | 2 Children | |
| Housing | $15,235 | $22,440 |
| Transportation | $4,900 | $13,317 |
| Civic | $1,811 | $4,127 |
Is 40k a year good for one person?
It is also possible to have cheaper car insurance, spend less on the personal, misc, and entertainment categories, etc. What is this? 40k a year is a good salary for a single person, but you can support a family on that amount as well.
Is 50k a good salary?
As we stated earlier if you are able to make $50,000 a year, that is a decent salary. You are making more money than the minimum wage and almost double in many cities. While 50000 is a good salary starting out in your working years.
Is 100k a good salary?
An annual income of £100,000 is enough to put a recipient comfortably within the top 2% of all earners, and the figure has become a key indicator that the recipient is a high-flier.
What percentage of Americans make over 100k?
Percentage distribution of household income in the U.S. in 2020
| Annual household income in U.S. dollars | Percentage of U.S. households |
|---|---|
| 75,000 to 99,999 | 12.2% |
| 100,000 to 149,999 | 15.3% |
| 150,000 to 199,999 | 8% |
| 200,000 and over | 10.3% |
What salary is considered middle class for a single person?
Range of household incomes needed to be considered middle class, by family size
| State | Single | Family of four |
|---|---|---|
| California | $29,851 – $89,552 | $59,702 – $179,105 |
| Colorado | $26,876 – $80,629 | $53,752 – $161,257 |
| Connecticut | $28,364 – $85,091 | $56,727 – $170,181 |
| Delaware | $26,146 – $78,437 | $52,291 – $156,873 |
What are the pros and cons of living in New Mexico?
Then consider these pros and cons of living in New Mexico before you do:
- 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.
Is it worth living in New Mexico?
A WalletHub study has compared the states on 52 indicators of livability and has determined that New Mexico ranks 50th as 2021’s best states to live in. The states were compared across five factors including affordability, economy, education and health, quality of life, and safety.
