Rio Rancho & Bernalillo Owner Financed Homes
Rio Rancho is considered the “City of Vision”, and is the largest city and economic hub for Sandoval County. It is the 3rd largest city in the State of New Mexico, and has a population of approximately 87,500.
The Intel Corporation is by far the largest employer in Rio Rancho. The services, retail, and government sectors are also major components of the local economy. Rio Rancho is the site of Intel’s Intel fax11X, the largest and most advanced semiconductor fabrication plant in the world. The fully automated, $2 billion facility opened in 2002 and was the first Intel plant to manufacture 300 mm silicon wafers, which can hold almost twice as many chips as the standard 200 mm wafers. Fab 7, Intel’s original Rio Rancho plant, closed in 2002 but is being converted into a test facility.
In 2005, Rio Rancho became the first U.S. city to offer citywide voice-over-WiFi (VoWiFi) service although many of its residents complained that the service did not live up to their expectations.
Several call centers call Rio Rancho home. Walmart opened up in early summer of 2006 in Rio Rancho thus sparking several new commercial retailers to locate nearby.
The average listing price for homes for sale in Rio Rancho NM was $219,300 for the week ending Dec 28, which represents a decrease of 0.6%, or $1,265, compared to the prior week.