Retail Development
Thank you for visiting the City of Rio Rancho’s Web site. This Web page has been designed to assist major retailers, retail developers, real estate brokers and hospitality firms explore business location options in Rio Rancho.
Rio Rancho is located in the northwest quadrant of the Albuquerque Metropolitan Statistical Area. The city is considered the third largest and fastest growing community in New Mexico and one of the fastest growing in the Southwest. Rio Rancho sits at an elevation of approximately 5,290 feet and enjoys a picturesque view of the Sandia Mountains.
Rio Rancho's 2010 U.S Census population is 87,521, and the community has been recognized by Money Magazine as one of the 100 best places to live in America in 2005, 2006, 2010, and 2012. In April 2008, Fortune Small Business Magazine ranked Rio Rancho as the 83rd best place to live and launch a business in the United States. In November of 2008, BusinessWeek Magazine named Rio Rancho as New Mexico's best place to raise kids in 2009. Rio Rancho received this same honor from the magazine for 2010.
Retail Development Plan
View the city's 2010-2015 Retail Development Plan (Searchable PDF).
Economic Development Plan
View the city's 2010-2015 Economic Development Plan (Searchable PDF).
Census Bureau Population
The following table contains population estimates from the U.S. Census Bureau. Yearly population information from the Census Bureau is released each July and lags one year behind the actual calendar year. The July 2011 census figure was 89,320.
Historic Population Estimates
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2010
|
2000
|
1990
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87,521
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51,785
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32,505
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Demographics
According to the Census Bureau’s Profile of General Population and Housing Characteristics: 2010, the median age of the City of Rio Rancho’s population is 34.7, 51.3 percent of the population is female as compared to 48.7 percent male, the average household size is 2.72 and the average family size is 3.19. View full report (searchable PDF) or visit the U.S. Census Bureau online.
Employment Trends
The City of Rio Rancho’s unemployment rate for December 2012, the latest data available and preliminary, is estimated by the Bureau of Labor Statistics (BLS) at 6.7 percent. The rate is comprised of a labor force of 39,998, number employed of 37,308, and the number of unemployed at 2,690. The December 2012 unemployment rate is up slightly from the November 2012 unemployment rate of 6.3 percent.
The following table shows the BLS Rio Rancho estimates for each month of 2012.
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January
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39,289
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36,359
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2,930
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7.5
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February
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39,863
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36,723
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3,140
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7.9
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|
March
|
39,526
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36,678
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2,848
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7.2
|
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April
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39,525
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37,071
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2,454
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6.2
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May
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39,405
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36,850
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2,555
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6.5
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June
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39,442
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36,591
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2,851
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7.2
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|
July
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39,639
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36,530
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3,109
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7.8
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August
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39,154
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36,522
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2,632
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6.7
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|
September
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39,368
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36,881
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2,487
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6.3
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|
October
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39,697
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37,203
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2,494
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6.3
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|
November
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39,886
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37,375
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2,511
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6.3
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The following table shows the BLS Rio Rancho average annual unemployment rate for the years 2001 - 2011.
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2002
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28,582
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27,305
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1,277
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4.5
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|
2003
|
29,210
|
27,870
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1,340
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4.6
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|
2004
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30,066
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28,769
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1,297
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4.3
|
|
2005
|
33,198
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31,862
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1,336
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4.0
|
|
2006
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35,707
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34,437
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1,270
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3.6
|
|
2007
|
37,421
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36,101
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1,320
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3.5
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|
2008
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39,052
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37,255
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1,797
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4.6
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|
2009
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39,162
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36,547
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2,615
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6.7
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|
2010
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39,759
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36,662
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3,097
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7.8
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Source: http://data.bls.gov/pdq/querytool.jsp?survey=la (March 2013)
2013 Single-Family Housing Permits
The city's Development Services Department publishes detailed information on each permit by month. Actual data for the current and previous month my be obtained by clicking here.
| |
January |
February |
March |
April |
| |
|
|
|
|
| Permits Issued |
50 |
31 |
53
|
. |
| Avg. SQF |
3,226 |
2,855 |
2,821 |
. |
| Avg. Valuation |
$219,436 |
$193,851 |
$193,336 |
. |
| Total Valuation |
$10,971,968 |
$6,009,381 |
$10,246,819 |
. |
| |
|
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| |
May |
June |
July |
August |
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|
|
|
|
| Permits Issued |
. |
. |
.
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. |
| Avg. SQF |
. |
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. |
. |
| Avg. Valuation |
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. |
. |
. |
| Total Valuation |
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. |
. |
. |
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September |
October |
November |
December |
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| Permits Issued |
. |
. |
. |
. |
| Avg. SQF |
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. |
. |
. |
| Avg. Valuation |
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. |
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| Total Valuation |
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The following table presents the historic single-family residential starts for the City of Rio Rancho from 2001-2011.
Historic Single-Family Residential Permits
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2012
|
2011 |
2010 |
2009 |
2008 |
2007 |
2006 |
2005 |
2004 |
2003 |
2002 |
|
417
|
301 |
455
|
688
|
715
|
1,046
|
2,049
|
3,084
|
1,720
|
1,224
|
901
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Resale Single-Family Residential Statistics
The Albuquerque Metropolitan Board of REALTORS® (AMBR) owns the Southwest Multiple Listing Service, Inc. (SWMLS). The SWMLS publishes annual summaries and monthly reports of the Greater Albuquerque residential housing resale market. The SWMLS breaks Rio Rancho into eight districts for reporting purposes. Data is then presented for Class R1 (existing single-family detached) and Class R2 (existing condo/townhome attached homes and combined Class R1 and R2 figures.
The Greater Albuquerque Association of Realtors (GAAR) publishes a large amount of data on the Rio Rancho existing housing market.
The 2011 GAAR third quarter resale statistics report was recently released. This report indicates that the average R1 (existing single family detached) sales price was $183,240, up slightly from $182,144, in the same quarter of 2010. The average R2 (existing condo/townhome attached) sales prices was $143,958, up significantly from $116,437, in the 3rd quarter of 2010. Rio Rancho’s 3rd quarter 2011 data can be viewed by district on this map (searchable PDF) or view full report (searchable PDF). Other market reports are available by visiting the Greater Albuquerque Association of Realtors Web site.
Traffic Flows and Plans
The Middle Rio Grande Council of Governments (MRCOG) was formed “to strengthen individual communities by identifying and initiating regional planning strategies through open dialogue and collaboration between the member governments." MRCOG publishes a number of regional reports and maps of interest to the development community. The following links present recent traffic flow, regional transportation classification and long range planning maps. Additional information on MRCOG can be obtained from the organization's Web site.
Long Range Planning Map
Transportation Classification Map
Traffic Flow Maps
2011
2010
2009
2008
2007
Central Business District
The City is also in the process of developing City Center, Rio Rancho's Central Business District. City Center is located in the geographic center of Rio Rancho's municipal boundaries.
City Center will ultimately provide business opportunities for the traditional mix of retail, office, entertainment and dining venues. The following bullets contains links to specific information and documents associated with the City Center. Learn more about the City Center and what already exists.
Zoning Ordinance (Search for Section 154.41)
Representative Sites
Information on available retail sites for lease or purchase in Rio Rancho can be obtained by visiting the Commercial Realtors Association of New Mexico's (CARNM) Web site.
Retail Leakage
The City of Rio Rancho experiences a significant level of retail leakage into the City of Albuquerque. The latest estimate of the leakage is slightly in excess of $400 million. Approximately 51 percent of the city’s general fund is derived from the revenues generated by New Mexico’s Gross Receipts Tax (essentially New Mexico’s equivalent of sales tax). View the last two Retail Leakage Reports by clicking here (searchable PDFs) (FY 2008) and here (FY 2006).
Retail Development Incentives
The city uses different development incentives. Please click on the links below to review incentive descriptions.
Gross Receipts Investment Policy (searchable PDF)
Tax Increment for Development Districts Policy (searchable PDF)
New Mexico Combined Reporting System Number
Every business operating in New Mexico must register with the New Mexico Taxation and Revenue Department (NMTRD) and obtain a Combined Reporting System number. The CRS number serves as your New Mexico tax identification number and is used to report New Mexico major business taxes, such as: Gross Receipts Tax, Compensating Tax and Withholding Tax.
To obtain a CRS identification number, complete and submit the Application for Business Tax Identification Number (ACD-31015) available for download at the State of New Mexico Taxation and Revenue Department Web site. There is no charge to register the Application.
NMTRD Workshops: The NMTRD conducts regularly scheduled workshops for entrepreneurs and New Mexico businesses. The latest workshop schedule on New Mexico’s gross receipts, compensating and withholding taxes can be obtained from the Department’s Web site.
Gross Receipts Tax
The city of Rio Rancho's current gross receipts tax rate is 7.4375 percent as of Jan. 1, 2011. Visit the State of New Mexico Taxation and Revenue Department Web site for more gross receipts tax information.
Business Resources
The following table contains links to a variety of business resources associated with a number of topics related to establishing a retail business in Rio Rancho.
Selected List of Business Resources
Further Information
For more information, please contact George W. Bootes III, CEcD, EDFP, with the City Manager's office by telephone at 505-891-5002 or e-mail at gbootes@ci.rio-rancho.nm.us.
Disclaimer / Credits
The information contained in this portion of the city's Web site has been obtained from sources deemed reliable, however, no guarantees or warranties of the information and its suitableness for any purpose is provided. Readers are encouraged to independently review the data and confer with professional advisers in real estate, legal, accounting tax and other areas as applicable.
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