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 population is estimated to be in excess of 82,000 and the community has been recognized by Money Magazine as one of the 100 best places to live in America in 2005, 2006 and 2010. 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 from 2004 through 2008. These figures represent official U.S.Census Department estimates and the city's 2009 figures will not be available until July of 2010. Rio Rancho's population in the 2000 Census was 51,765.
Historic Population Estimates
The following figures are as of July 1 of each respective year.
| 2009 |
2008 |
2007 |
2006 |
2005 |
| 82,574 |
79,655 |
75,978 |
70,493 |
65,512 |
Demographics
According to the Census Bureau’s Profile of General Demographic Conditions: 2000, the median age of the City of Rio Rancho’s population is 35.1, 51.5 percent of the population is female as compared to 48.5 percent male, 91.2 percent of the population has earned a high school diploma or better, the median household income is $47,169, the average household size is 2.7 and the average family size is 3.14. View this full four-page report or visit the U.S. Census Bureau online.
2010 Single-Family Housing Permits
Through march 2010 the City has issued 126 single family housing permits. Total permit valuation through the same period is $22,049,733. The following table presents the 2010 permit data by month.
| |
January |
February |
March |
April |
| |
|
|
|
|
| Permits Issued |
19 |
47 |
60
|
44 |
| Avg. SQF |
2822 |
2833 |
2312
|
3,201 |
| Avg. Valuation |
$189,684 |
$194,008 |
$155,455
|
$215,177 |
| Total Valuation |
$3,604,002 |
$9,118,393 |
$9,327,338
|
$9,467,807 |
| |
|
|
|
|
| |
May |
June |
July |
August |
| |
|
|
|
|
| Permits Issued |
33 |
83 |
36
|
|
| Avg. SQF |
2,656 |
2,739 |
2,999
|
|
| Avg. Valuation |
$178,574 |
$184,126 |
$201,575
|
|
| Total Valuation |
$5,892,973
|
$15,282,522 |
$7,256,735
|
|
| |
|
|
|
|
| |
September |
October |
November |
December |
| |
|
|
|
|
| Permits Issued |
|
|
|
|
| Avg. SQF |
|
|
|
|
| Avg. Valuation |
|
|
|
|
| Total Valuation |
|
|
|
|
The following table presents the historic single-family residential starts for the City of Rio Rancho from 1999 through 2009.
Historic Single-Family Residential Permits
|
2009
|
2008 |
2007
|
2006
|
2005
|
2004
|
2003 |
2002 |
2001 |
2000 |
1999 |
|
688
|
715 |
1,046
|
2,049
|
3,084
|
1,720
|
1,224
|
901
|
916
|
628
|
506
|
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. Rio Rancho’s 2007 average for Class R1 was $210,545 Class R2 was $120,526 and Class R1 and R2 combined is $205,879. Rio Rancho and Southern Sandoval County’s 2007 and 2006 resale statistics by district can be viewed on a map. The 2007 MLS Year in Review is available by visiting the Greater Albuquerque Association of Realtors Web site. For more information on MSA wide housing statistics visit AMBR online.
Traffic Flows and Plans
The Middle Rio Grade 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 2000 – 2006 Traffic Flow and the regional Transportation Classification and Long Range Planning Maps. Additional information on MRCOG can be obtained from the organization's Web site.
Traffic Flow Maps
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.
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 (Fiscal Year 2005 – 2006) of the leakage is slightly in excess of $400 million. Approximately 60 percent of the city’s general fund revenues comes from the revenues generated by New Mexico’s Gross Receipts Tax (essentially New Mexico’s equivalent of sales tax).
Video
View a video produced by the Rio Rancho Economic Development Corporation about Rio Rancho and its business location advantages.
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 7.1875 percent (July 1, 2010 through December 31, 2010). 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 to 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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