Pay and cost of living in Torrance County, NM
Across the 10 occupations we cover in Torrance County, NM, the middle median salary is $35,845 a year. Pay runs from $29,140 for Fast Food and Counter Workers up to $96,040 for Registered Nurses, a spread of $66,900. Wages come from the Albuquerque, NM survey area.
A one-bedroom apartment in Torrance County, NM has a HUD Fair Market Rent of $1,112 a month and a two-bedroom $1,384. Rent, food, home energy and gasoline for one adult add up to $20,036 a year. After federal, FICA and state income taxes, the average occupation here takes home $38,511 a year, and every one of the 10 occupations listed here earns enough take-home pay to cover the four basics.
Open any occupation below for its full payslip, the tax breakdown, the rent comparison and a plain-English explanation of what is left after the basics. Every figure uses the same method, so results are comparable from one job and one county to the next.
Housing, taxes and commute in Torrance County, NM
The figures below are exact U.S. Census Bureau American Community Survey 2020-2024 5-year estimates for Torrance County, NM, set beside the New Mexico and national medians.
Median household income in Torrance County, NM is $57,842, 10% below the New Mexico median of $64,059 and $80,734 nationally. A year of one-bedroom Fair Market Rent ($13,344) equals 23.1% of that income. The median of the occupation medians listed here, $35,845, is 38% below household income, which is expected because a household can hold more than one earner.
Homeowners in Torrance County, NM pay a median of $719 a year in real estate taxes, 58% below the New Mexico median of $1,731. With a median home value of $159,700, 36% below the New Mexico median of $248,100, the ratio of the two medians is 0.45% a year.
Renters in Torrance County, NM pay a median gross rent of $872 a month in the Census survey, 18% below the New Mexico median of $1,067. HUD's one-bedroom Fair Market Rent used for the budgets on this site is $1,112; the Census figure covers rental units of every size.
Workers in Torrance County, NM who travel to a workplace spend an average of 37.3 minutes each way, 59% above the New Mexico average of 23.5. 8.6% of workers work from home, compared with 15.1% nationally.