Albuquerque vs Jersey City: Cost of Living Comparison
How does the cost of living in Albuquerque, New Mexico compare to Jersey City, New Jersey? Below is a side-by-side breakdown of housing costs, income, wages, and taxes using official government data.
Summary: Albuquerque is the more affordable city overall. Housing costs are 51% lower in Albuquerque compared to Jersey City, while rent is 44% lower. State income tax is 5.9% in NM vs 10.75% in NJ.
| Metric | Albuquerque, NM | Jersey City, NJ | Diff |
|---|---|---|---|
| Housing | |||
| Median Home Value | $246,000 | $500,100 | -50.8% |
| Median Monthly Rent | $1,014 | $1,799 | -43.6% |
| Income | |||
| Median Household Income | $61,503 | $91,151 | -32.5% |
| Per Capita Income | $36,879 | $54,582 | -32.4% |
| Taxes | |||
| State Income Tax Rate | 5.9% | 10.8% | -45.1% |
| Combined Sales Tax | 7.7% | 6.6% | +16.5% |
| Demographics | |||
| Population | 562,551 | 287,899 | +95.4% |
Source: U.S. Census Bureau ACS 5-Year Estimates (2022), Freddie Mac Primary Mortgage Market Survey. State/local tax rates from Tax Foundation (2024).
Rent vs. Buy Calculator — Albuquerque
Default home price from Census ACS median. Mortgage rate: 6.38% (Freddie Mac PMMS, March 2026). Property tax est. 1.1%, insurance est. 0.35% of home value annually.
Rent vs. Buy Calculator — Jersey City
Default home price from Census ACS median. Mortgage rate: 6.38% (Freddie Mac PMMS, March 2026). Property tax est. 1.1%, insurance est. 0.35% of home value annually.
Key Takeaways
- Housing: The median home in Albuquerque costs $246,000 compared to $500,100 in Jersey City — a 51% discount.
- Rent: Median rent is $1,014/mo in Albuquerque vs $1,799/mo in Jersey City.
- Income: Median household income is $61,503 in Albuquerque and $91,151 in Jersey City.
- Taxes: State income tax is 5.9% in New Mexico vs 10.75% in New Jersey.
Methodology
This comparison uses data from the U.S. Census Bureau American Community Survey 5-Year Estimates (2022) for median household income, median home value, median gross rent, per capita income, and population. State and local tax rates are sourced from the Tax Foundation. Mortgage rates are from the Freddie Mac Primary Mortgage Market Survey (updated weekly).