NM Housing Costs (Albuquerque, Santa Fe: real estate, apartment, new home)

[Jammie]

We previously discussed the fact that NM is a poor state. But when I search at apartment listings or housing, it seems to be very expensive. For instance, in the detailed profile of a lot of cities, the average cost of housing was quite high and that's in the year 2000. How do people survive if they don't have a lot of money. Do the jobs pay quite well?

[lukeache]

New Mexico real estate prices can be very high in certain places, but they are still below national average in most places. One good thing about New Mexico is that property taxes are very low, so you have to factor that in when you think about buying a place. My experience in New Mexico is that most jobs pay very low, probably the lowest I have ever seen anywhere in nation, especially low end jobs. Now, if you have a college degree or higher, and you have a professional career, you will probably make a little less than in most places, but the cost of living in NM can also be very low in most places. I remember food in New Mexico(Albuquerque) being very cheap. I read an article last week about how challenging it has been for some people to make ends meet in NM, they were talking about people working 3 jobs. Honestly,that would not surprise me. New Mexico is probably the worst state in the nation to be poor(in my humble opinion), hope this helps!

[Crackerjack]

Jammie, Lukeache answered it very well. I will just add that many of the really poor in NM have had family live there for generations. They already have homes, albeit small poor homes passed on to them, but they don't have monthly payments looming over them. So they make it. The higher new home prices are, for one, the result of the rich or upper class moving into NM from places like expensive California.

[greatdanes]

I know of several long time (many generations) families living in the Santa Fe area. They have paid off homes, usually old homes, and parents and working children living at home in an extended family. That is how they get by.
Also, Walmart and Sam's club have been a real savings to families in Santa Fe, much as the politicians seem to hate this company.