States › New Mexico › Edgewood

Is Edgewood, NM expensive to live in?

CheapRent takes 16 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,18133% lower than U.S. average
💵 Families earn per year (2026)$91,415about $7,618/month · 5% higher than U.S. average
🔑 House price$306,4008% lower than U.S. average

Rent is lower than in 77% of U.S. cities. A typical house costs about 3.4 years of household income. Commutes are long, about 36.3 minutes each way. Most homes (91.7%) are owned, so rentals can be hard to find.

How much money do I need?

To rent here comfortably, you should earn about $47,240 a year. That is $23 an hour at a full-time job.

Is rent cheaper than other New Mexico cities?

No. Rent here is more expensive than in most of New Mexico. It is number 23 of 44 cities from cheapest to most expensive.

Edgewood
$1,181
Aztec
$667
Santa Teresa
$1,438
North Hobbs
$1,478
Raton
$1,183
Truth or Consequences
$658
Zuni Pueblo
$623

How much do households earn in Edgewood?

Under $25k
15.1%
$25k–50k
20.4%
$50k–100k
37.3%
$100k–150k
13.9%
$150k+
11.9%

Share of households by yearly income. 25.8% of households earn $100,000 or more.

How expensive is Edgewood overall?

Everyday prices in New Mexico overall are 8% below the U.S. average (index 92.2, U.S. = 100).

Housing
74
Goods (food, clothes…)
96
Utilities
78
Other services
99
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Edgewood, so the New Mexico figure is shown.

Taxes and bills in Edgewood

🏛️ Property tax$1,517a year · 0.50% of home value · U.S. $3,119
⚡ Electric bill$130a month (typical) · U.S. $156

Life in Edgewood

Commute to work36.3 minU.S.: 26.4 min
College degree35%U.S.: 35.7%
Own their home91.7%U.S.: 65.2%
Below poverty line8.3%U.S.: 12.5%
Unemployment5.1%U.S.: 5.2%

Is it cheaper to rent or buy in Edgewood?

Renting is cheaper right now: about $945 a month less.

Renting
$1,181
Owning
$2,126

Owning assumes a typical $306,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $30,640 for the down payment.

Frequently asked questions

What is the average rent in Edgewood, NM?

Renting in Edgewood costs a median of about $1,181 a month in 2026, including utilities. The New Mexico median is $1,181.

How much do I need to make to live in Edgewood?

To keep rent under 30% of income, you need about $47,240 a year, or $23 an hour at a full-time job.

Is Edgewood cheap or expensive?

Edgewood is rated Cheap: rent takes 15.5% of the typical household income of $91,415. It ranks 23rd cheapest of 44 New Mexico cities we track.

How much are property taxes in Edgewood?

The median homeowner in Edgewood pays $1,517 a year in property taxes, about 0.50% of the median home value.

Is Edgewood more expensive than the national average?

Overall prices in New Mexico are 8% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Edgewood?

The median home value in Edgewood is $306,400, about 3.4 times the typical yearly household income.

6,124 people live in Edgewood. Numbers are typical (middle) values.