Salary Needed to Live in Albuquerque as a Retiree
A retired individual (65+) needs approximately $18,671/year to live comfortably in Albuquerque, NM — including 5% savings.
Comfortable Salary
$18,671
with 5% savings
Bare Minimum
$17,392
no savings buffer
Monthly Expenses
$1,058
12% below national avg
Detailed Monthly Budget for a Retiree in Albuquerque
| Expense | Albuquerque | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $103 | $121 | -15% |
| 🛒 Groceries | $18 | $16 | +13% |
| ⚡ Utilities | $11 | $15 | -27% |
| 🚗 Transportation | $13 | $18 | -28% |
| 🛡️ Car Insurance | $158 | $215 | -27% |
| 🏥 Health Insurance | $38 | $54 | -30% |
| Medicare Supplement | $186 | $200 | -7% |
| Prescription Drugs | $140 | $150 | -7% |
| Internet + Phone | $112 | $120 | -7% |
| Recreation & Social | $186 | $200 | -7% |
| Home Maintenance | $93 | $100 | -7% |
| Total Monthly | $1,058 | $1,209 | -12% |
How We Calculated the Salary
Monthly expenses:$1,058
Target savings (5%):$60/mo
Monthly after-tax needed:$1,118
Effective tax rate:27%
Gross annual salary needed:$18,671
Other Household Types in Albuquerque
Related Pages
FAQ
What salary does a retiree need in Albuquerque?
A retiree needs approximately $18,671/year ($1,556/month gross) to live comfortably in Albuquerque with a 5% savings rate.
How much is rent for a retiree in Albuquerque?
A 1-2br senior-friendly in Albuquerque costs approximately $103/month, which is the largest single expense at 10% of the total budget.
Is Albuquerque affordable for a retiree?
Yes, Albuquerque is 12% more affordable than the national average for a retiree.