Living in Corrales, New Mexico
Cost of living, income, home prices, rent and demographics of Corrales · Census data 2020–2024
Corrales has 8,555 residents with a median age of 57.8. The median household income is $102,307 (60% higher than the New Mexico median), the median home value is $571,500, the median rent is $1,143/month.
Corrales at a glance
- Population
- 8,555
- Median age
- 57.8State: 39.4
- Median household income
- $102,307State: $64,059
- Median home value
- $571,500State: $248,100
- Median rent
- $1,143/moState: $1,067
- Homeowners
- 91.2%
- Bachelor's degree or higher
- 51.5%
- Average commute
- 29 min
Is Corrales a good place to live?
Pros: Median household income 60% higher than the New Mexico median; a poverty rate of 7%.
Cons: Home values 130% higher than the state median; an average commute of 29 minutes; unemployment of 6.3%.
The weather is best in April–May and September–October.
Cost of living in Corrales
Housing is the biggest part of the cost of living. In Corrales the median home value is $571,500, 72% higher than the U.S. median. Renters pay a median of $1,143 per month, which is 22.4% of household income. Homeowners with a mortgage pay $2,638 a month in housing costs.
Corrales median household income
The median household income in Corrales is $102,307 and the income per person is $63,801. 7% of residents live below the poverty line (New Mexico: 17.8%).
Housing in Corrales: homes for sale and rent
- Housing units
- 3,940
- Owner-occupied
- 91.2%
- Renter-occupied
- 8.8%
- Vacant
- 9.9%Includes seasonal homes
- Median year built
- 1986
- Average household size
- 2.40
Corrales demographics
- Population
- 8,555
- Median age
- 57.8
- Under 18
- 15.2%
- 65 and older
- 37.5%
- Households
- 3,551
- Foreign-born
- 5.6%
- Veterans
- 11.4%Adults 18+
Hispanic or Latino can be of any race. Population history of Corrales ›
Education in Corrales
51.5% of adults 25 and older in Corrales have a bachelor's degree or higher (New Mexico: 31%), and 24.9% have a graduate or professional degree.
Jobs and commute in Corrales
- Unemployment rate
- 6.3%State: 6%
- Average commute
- 29 minState: 24 min
- Work from home
- 31.9%
- Drive alone
- 57.9%
- Public transit
- 0.3%
- Walk to work
- 0.9%
- Homes with broadband
- 89.8%
Corrales vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Corrales | 8,555 | $102,307 | $571,500 | $1,143 |
| Edith Enclave | 185 | $91,875 | $318,800 | $950 |
| Pueblo of Sandia Village | 416 | $30,625 | $225,800 | — |
| North Valley | 10,455 | $61,498 | $302,700 | $893 |
| Rio Rancho | 108,515 | $89,596 | $310,200 | $1,514 |
| Paradise Hills | 4,591 | $73,295 | $254,600 | $1,361 |
| Los Ranchos de Albuquerque | 5,857 | $72,992 | $492,400 | $1,061 |
| Bernalillo | 9,086 | $63,880 | $255,500 | $902 |
| Sandia Heights | 3,160 | $143,646 | $670,100 | $3,050 |
More for people moving to Corrales
Corrales ZIP code ›Weather and climate ›Living in Corrales: FAQ
What is the median household income in Corrales, NM?
The median household income in Corrales is $102,307, 60% higher than the New Mexico median of $64,059 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Corrales?
The median home value in Corrales is $571,500, compared with $248,100 in New Mexico.
How much is rent in Corrales?
The median gross rent in Corrales is $1,143 per month, about 22.4% of household income.
Is Corrales, NM a good place to live?
Pluses: median household income 60% higher than the New Mexico median; a poverty rate of 7%. Minuses: home values 130% higher than the state median; an average commute of 29 minutes; unemployment of 6.3%.
What is the median age in Corrales?
The median age in Corrales is 57.8 years (New Mexico: 39.4).
How long is the commute in Corrales?
The average commute to work in Corrales is 29 minutes; 31.9% of workers work from home.
What is the unemployment rate in Corrales?
The unemployment rate in Corrales is 6.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Corrales?
51.5% of adults in Corrales have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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