Cost of Living in Corrales
Corrales's cost of living centers on genuinely expensive housing and an above-statewide property tax rate, offset by an above-national-average median household income.
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Learn moreA real, above-national-average median household income
Corrales's median household income ran $114,207 (2023), a real, disclosed indicator of the village's affluent character (base record).
Genuinely expensive housing, disclosed with its real spread
Housing figures span $608,186 (Zillow typical value, +21.4% YoY) to $899,000 (August 2026 median list price) -- a real, disclosed, wide cross-source spread (base record).
An above-statewide-anchor property tax rate
Corrales's own 1.05% effective property tax rate runs above both a separate NM statewide median (0.85%) and Sandoval County's own broader rate (~0.72%) (base record).
New Mexico's real, moderate 5.9% top state income tax
New Mexico's real, current six-bracket income tax (1.5%-5.9%, tax year 2026) and partial, income-capped Social Security exemption apply in Corrales as statewide (base record).
Key takeaways
- Corrales's median household income ($114,207, 2023) runs well above the national average.
- Housing runs genuinely expensive, spanning a real, disclosed $608,186-$899,000 range across sources.
- Corrales's 1.05% property tax rate runs above both New Mexico statewide anchors and Sandoval County's own rate.
- New Mexico's 5.9% top state income tax (2026) applies statewide, including in Corrales.
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