ALBUQUERQUE, N.M. (KRQE) – When it comes to running a home, the costs can add up quickly. And that’s especially true for monthly utility bills. But how does New Mexico, a state with cold winters and hot summers, compare?
Doxo, a personal finance resource, recently released a national report on utility costs. They analyzed over 8 million customers’ bills, and the results show that New Mexico ranks on the high side.
Across the U.S., people pay a total of nearly $400 billion each year for utilities, the report shows. Naturally, that’s less than they spend on other bill categories, such as rent and auto loans. But Americans generally spend more on utilities than on health insurance and mobile phone service combined, the report reveals.
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Data from doxo shows that northern states tend to pay more, on average, than many southern states.
And the nationwide average utility bill was $328 per month in 2022. That means the average household spent over $3,000 a year on their utilities.
New Mexico doesn’t rank at the top when it comes to utility costs, but it’s far from the bottom too. New Mexicans paid, on average, $342 per month on utilities, the data shows. That’s more than 33 other states, including Colorado, Utah, Texas, and Arizona.
In Colorado, homeowners and renters paid an average of $295 per month on utilities, according to the report. In Texas, they paid an average of $263 per month.
New Mexico ranked just slightly cheaper than California, where locals paid an average of $347 per month for utilities. Utility costs averaged above $400 per month in a few states. And In Hawaii, the average cost was $550 per month.
In Albuquerque, the average cost for utilities was a little higher than the state average. City dwellers paid an average of $363 per month, the data shows. That’s over $100 more than El Paso residents paid and $86 less than Los Angeles residents paid. Albuquerque residents paid just slightly less per month than Phoenix residents.
Residents in Las Cruces paid an average of $264 per month. And Santa Fe residents paid an average of $347 per month, the data shows.