KOB.com Web Staff

ALBUQUERQUE, N.M. – How much does it take to pay the rent in New Mexico?

That’s the subject of a new report from the National Low Income Housing Coalition, which found the average two-bedroom apartments in Albuquerque costs $873. You’d need to be making at least $16.79 an hour to afford that.

Rent is a bit pricier for our neighbors to the north – in Santa Fe, the average two-bedroom unit costs $1,000 a month. Workers there have to be making almost $20 for an apartment of that size.

On average, though, New Mexicans aren’t making that much. The average Albuquerque renter makes $12.84 an hour, while the average Santa Fe renter makes $13.50. The average household would have to have more than one job to pay for the roof over their heads.

The figures are worse when it comes to minimum wage. Nevertheless, rentals in New Mexico are still more affordable than some metros in neighboring states – namely, Colorado.

All of the numbers laid out in the report can be viewed here.

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