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El Paso residents enjoy a relatively low cost of
living compared to other cities in the United States. Combined with its growing size and
numerous points of cultural and scenic interest, the El Paso area offers businesses
a thriving community coupled with a pleasant and affordable cost of living. In the
first quarter 2006, the index for El Paso was at 90.7 percent of the national average
of 100 percent. The following graph illustrates how El Paso’s cost of living compares
to other cities in the southwest.
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More, economic growth and low interest
rates are stimulating demand for housing in El Paso. In 2005 the median
price of a home sold was $111,800, an increase of 18 percent over last
year’s figure of $94,700. Fifty percent of homes sold through the MLS sold within
30 days of being listed, according to Association Executive
Terrie Todd. Despite the recent price increases, El Paso remains
one of the country’s most affordable housing markets.
Source: National Realtors Association, Sept. 2006
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