Measured against area pay, El Cerro costs less to live in than 72% of U.S. towns
It ranks #17 of 72 in New Mexico for affordability. Home prices around El Cerro have risen about 63% over the past 5 years.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Albuquerque, NM metro area ($71K). How TownRatings grades cost of living
Only 2 sales in September 2026: in a market this size, monthly medians swing a lot, so the typical value is the steadier guide.
The grade compares costs with what households across the Albuquerque metro earn ($71K, Census 2020–24). The typical home costs 4.4 years of metro income, and 91% of renters pay 30% or more of income for housing.
In dollars
- $1,530a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
- 96prices across the Albuquerque metro, where the U.S. is 100 (housing 89)BEA Regional Price Parities, 2024
In paychecks the grade
- 4.4 yrsof area income buys the typical home; the typical U.S. town: 3.3$71K, Albuquerque-area income
- 12%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 20%of owners do; the typical U.S. town: 20%Census 2020–24
What stands out about housing in El Cerro
What’s behind El Cerro’s grade
Measured against what households in the area earn, El Cerro is more affordable than 72% of U.S. towns, #17 of 72 in New Mexico. Home prices pull the grade down most; rent holds it up.
Home prices up 63% in 5 years
The federal house price index for the ZIP code around El Cerro rose 63% over the past 5 years, faster than across New Mexico (50%). Last year prices rose 6.6%. Carrying the Census median home value forward with that index puts the typical El Cerro home at roughly $390,000 today.
Carrying the Census median forward with the index puts a typical home at about $390K.
Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around El Cerro, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.
A typical home costs 4.4 years of area income
The calculator starts from the area income the grade uses. Switch to El Cerro’s own median, or type yours.
That’s $101K short of a typical El Cerro home.
A two-bedroom rents for about $1,530 a month here, $710 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, El Cerro’s typical property tax (0.60% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,530
Renters already here pay a median of $723, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Albuquerque, NM MSA): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
High tax bills, but a low tax rate
The median bill is $1,856 (New Mexico: $1,731), because homes cost more. As a share of value it’s 0.60% a year, against 0.70% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
The rest of a budget near El Cerro
Only figures published free for the whole country, each labeled with the area it covers: the Albuquerque, NM metro area, or New Mexico. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Prices overall U.S. = 100 | 96 | NM 92 | metro | BEA, 2024 |
| Goods (groceries, clothing, cars…) U.S. = 100 | 96 | NM 96 | metro | BEA, 2024 |
| Utilities U.S. = 100 | 78 | NM 78 | metro | BEA, 2024 |
| Other services U.S. = 100 | 99 | NM 99 | metro | BEA, 2024 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
El Cerro vs. its neighbors
Zillow publishes no value for El Cerro. Valencia and El Cerro Mission have no Zillow value, so they are in the table only.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, latest | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| El Cerro | B+ | — | $312K | 0.60% | $1,530 |
| Los Lunas | C | $331K | $263K | 0.74% | $1,530 |
| Valencia | B+ | — | $263K | 0.48% | $1,530 |
| El Cerro Mission | A | — | $115K | 0.71% | $1,530 |
“—” under Zillow: Zillow publishes no value for that town, so it’s left blank rather than mixed with Census figures.
Questions about the cost of living in El Cerro
Is El Cerro expensive to live in?
Measured against what households in the area earn, El Cerro costs less than 72% of U.S. towns: a B+ for cost of living, #17 of 72 in New Mexico. The typical home costs 4.4 years of the median household income of the Albuquerque, NM metro area ($71K).
How much is rent in El Cerro?
HUD puts a two-bedroom at about $1,530 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $723 (Census 2020–24).
What are property taxes in El Cerro?
The median bill is $1,856 a year, 0.60% of the median home value (New Mexico: $1,731, 0.70%), from the Census 2020–24.
Neighbors talk housing
What El Cerro buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center, September 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.