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Albuquerque, NM

Cost of living in Torrance County, NM

Part of the Albuquerque Metro Area

Estimated monthly cost
$2,795/mo
for a single person, all categories combined

Population 15,290 · Last updated May 21, 2026

Cost breakdown

Single person, by category, per month.

Rent $1,084 39%
Healthcare $480 17%
Groceries $326 12%
Transport $320 11%
Federal tax $302 11%
Energy $130 5%
State tax $93 3%
Water $60 2%

Rent in Torrance County

Fair Market Rents by bedroom count.

Studio
$913
per month
1 bedroom
$1,084
per month
2 bedroom
$1,331
per month
3 bedroom
$1,865
per month
4 bedroom
$2,209
per month

Source: HUD FMR FY2025

Income and earnings in Torrance County

Annual earnings figures from the Census ACS.

Household income
$46,250
per year
Individual earnings
$28,548
per year
Per capita
$24,922
per year

Source: ACS 2019-2023 5-Year.

Home values in Torrance County

Average values reported by homeowners.

Average home value
$145,100
Annual property tax
$677

Source: ACS 2019-2023 5-Year

Energy costs in Torrance County

Estimated monthly electricity and gas costs.

Electricity
$92
per month · 15.4¢/kWh
Natural gas
$38
per month
Annual total
$1,560
per year

Source: EIA

Healthcare in Torrance County

Insurance premiums and coverage rates.

Individual premium
$480
per month
Family premium
$1,350
per month
Uninsured rate
7.7%

Source: ACS + national avg. Marketplace benchmark premiums are second-lowest Silver plan estimates and do not reflect employer plans, subsidies, or out-of-pocket costs. This is not healthcare advice.

Taxes in Torrance County

State and local tax rates for New Mexico.

State income tax
5.9%
Top marginal rate
State sales tax
5.0%
Combined sales tax
7.7%
incl. average local

Tax rates change. Consult a qualified tax professional for advice on your specific situation. This is not tax advice.

Transportation in Torrance County

Commute patterns and estimated costs.

Average commute
36.6 min
Drive alone
72.2%
Public transit
0.0%
Work from home
11.5%

Source: ACS

Monthly cost estimates for Torrance County

What it costs to live in Torrance County each month.

Single person
$2,795
per month
  • Rent $1,084
  • Energy $130
  • Water $60
  • Groceries $326
  • Transport $320
  • Healthcare $480
  • Federal tax $302
  • State tax $93
Couple
$3,984
per month
  • Rent $1,331
  • Energy $156
  • Water $70
  • Groceries $540
  • Transport $420
  • Healthcare $864
  • Federal tax $437
  • State tax $166
Family
$6,638
per month
  • Rent $1,865
  • Energy $195
  • Water $85
  • Groceries $820
  • Transport $520
  • Healthcare $1,350
  • Childcare $1,200
  • Federal tax $437
  • State tax $166

Frequently asked questions about Torrance County

Common questions about cost of living, rent and salary.

What is the average rent in Torrance County?

In Torrance County, NM, a one-bedroom apartment averages $1,084 per month, a two-bedroom averages $1,331 per month, a three-bedroom averages $1,865 per month, according to HUD Fair Market Rent data.

What is the average salary in Torrance County?

In Torrance County, NM, the average household income is $46,250 per year and individual earnings for full-time workers average $28,548 per year, according to U.S. Census Bureau data.

What is the cost of living in Torrance County?

The estimated cost of living in Torrance County, NM is approximately $2,795 per month for a single person, $3,984 for a couple, $6,638 for a family. This includes rent, utilities, groceries, transportation, healthcare, and taxes.

What is the sales tax rate in Torrance County?

The combined sales tax rate in Torrance County, NM is 7.72%, which includes the New Mexico state rate of 5.00% plus an average local rate of 2.72%.

Is Torrance County an affordable place to live?

Based on the data, a single person in Torrance County, NM would need approximately $2,795 per month to cover rent, utilities, food, transport, healthcare, and taxes. The average household income is $46,250 per year ($3,854 per month). Torrance County has a high cost of living relative to local earnings.

How much does healthcare cost in Torrance County?

The ACA marketplace benchmark premium in Torrance County, NM is approximately $480 per month for an individual. Approximately 7.7% of residents are uninsured. Actual costs vary based on employer coverage, plan type, and individual circumstances.

What are house prices in Torrance County?

The average home value in Torrance County, NM is $145,100, with average annual property taxes of $677, according to U.S. Census Bureau data.

How does Torrance County compare to other areas?

You can compare Torrance County, NM with any other US county using our comparison tool at /compare. Torrance County is in the Albuquerque, NM metro area.

Other counties in New Mexico

Browse the full list of counties in New Mexico, ranked by cost of living.

See all counties in New Mexico

Compare Torrance County with another area

Put two counties side by side to see how rent, taxes and everyday costs stack up.

About this data

All figures on this page come from official U.S. government sources, listed below.

  • HUD FMR FY2025
  • ACS 2019-2023 5-Year
  • EIA
  • ACS + national avg
  • ACS
  • USDA + BEA RPP
Methodology All data sources