Español

Este sitio también está en español. Leer en español

City · 8,481 residents · Socorro County, New Mexico

Socorro , New Mexico

In Socorro, a typical home is worth $152,900 and typical rent is $711 a month. Compared with all of Socorro County, the typical home value is 11% higher, typical household income is 8% higher, and the share of households that own their home is 18 points lower.

WhatsApp

  • Typical home value

    $152,900

    11% above the county

    38% below New Mexico

    • Socorro
    • County
    • New Mexico

  • Typical rent

    $711a month

    3% above the county

    33% below New Mexico

    • Socorro
    • County
    • New Mexico

  • Typical household income

    $39,375a year

    8% above the county

    39% below New Mexico

    • Socorro
    • County
    • New Mexico

  • Households that own their home

    57%

    18 points below the county

    13 points below New Mexico

    • Socorro
    • County
    • New Mexico

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$194,806
3.4% more than 12 months ago

From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).

Socorro is in Socorro County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Socorro County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Socorro apart

What this place has that others do not, from public data, most unusual first.

  1. 57% of households in Socorro own their home, against 75% in Socorro County.

  2. Nearby, in El Cerro Mission, the typical home value is $115,300: 25% less than in Socorro ($152,900).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Socorro

What homes there are in Socorro, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

No kind of home is the majority in Socorro; the largest group, detached houses, adds up to 49%, near the figure in Socorro County (50%).

Year built

The typical year built in Socorro is 1978, about the same as in Socorro County (1980).

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

By rent, most homes in Socorro cost less than HUD's 2-bedroom fair market rent ($1,014): about 73%.

With a mortgage

$1,334 a month

Socorro County: $1,293 a month

Without a mortgage

$387 a month

Socorro County: $406 a month

Owners with a mortgage

39%

Socorro County: 28%

The typical cost for an owner with a mortgage in Socorro is $1,334 a month, near the figure in Socorro County ($1,293).

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Socorro stayed about the same since 2015–2019: the Census sees no clear change.

Since 2015–2019, the typical rent in Socorro did not change clearly, according to the Census.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureSocorroSocorro CountyNew MexicoUnited States
Rental vacancy Unreliable estimateUnreliable estimate5.9%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate1.0%0.9%
More than one person per room Unreliable estimateUnreliable estimate3.3%3.4%
People per household 3.432.942.482.53
Drive alone 72%63%74%69%
Carpool Unreliable estimate8%10%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike 13%10%2%3%
Work from home Unreliable estimate18%12%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute Unreliable estimate10 to 19 minutes10 to 19 minutes20 to 29 minutes

More people live in each home here: 3.43 on average, against 2.94 in Socorro County.

In Socorro, 72% of workers drive alone to work; in Socorro County, 63%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Socorro?

A typical home costs more than the typical income allows

We start with a typical home in Socorro, worth $152,900, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 38% of the typical household income in Socorro, which is $39,375 a year. For that payment to be 28% of income, a household would need to earn about $53,366 a year.

The calculator's FHA and conventional loan limits are those of all of Socorro County.

Your numbers

Local data
$

Starts at the typical home value in Socorro. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $5,352 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$1,245

at 7.18% · 30 years

Loan amount
$150,130
Total interest
$216,002
Paid off in
November 2056

Includes $2,582 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $919 a month

  • Tight

    $919 to $1,181 a month

  • Hard

    more than $1,181 a month

    Your payment · 38%

Compared with the typical household income in Socorro ($39,375 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,245
Principal & interest$1,017
Property tax$97
Home insurance$64
FHA mortgage insurance (MIP)$68

You need at least $5,352 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Socorro and Socorro County

Socorro is in Socorro County, New Mexico. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Socorro's own numbers

Typical home value
$152,900
Typical monthly rent
$711
Typical yearly household income
$39,375
Households that own their home
57%
Effective property tax rate
0.76%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Socorro County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,014
Price change over 5 years (FHFA)
+42%
Homes in a high flood-risk zone
21%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Socorro County.

Everything about Socorro County

Buying

Buying a home in Socorro

A typical home in Socorro is worth $152,900: 11% above the county and 38% below New Mexico. With the typical household income in Socorro ($39,375 a year), a typical home costs 3.9 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Socorro 3.9 years
  • County 3.8 years
  • New Mexico 3.9 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Socorro County

According to FHFA’s house price index, home prices in Socorro County rose 55% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Socorro County.

Period County New Mexico U.S.
Last year (2025) −10.1% +3.1% +2.9%
5 years (2020–2025) +42% +50% +47%
10 years (2015–2025) +55% +82% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Socorro next to Socorro County, New Mexico and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Socorro $152,900
  • County $137,500
  • New Mexico $248,100
  • United States $332,700
Typical monthly rent
  • Socorro $711
  • County $691
  • New Mexico $1,067
  • United States $1,413
Typical yearly household income
  • Socorro $39,375
  • County $36,570
  • New Mexico $64,059
  • United States $80,734
See the full table
Socorro next to Socorro County and New Mexico
Measure Socorro Socorro County New Mexico U.S.
Typical home value $152,900 $137,500 $248,100 $332,700
Typical monthly rent $711 $691 $1,067 $1,413
Typical yearly household income $39,375 $36,570 $64,059 $80,734
Households that own their home 57% 75% 70% 65%
Typical yearly property tax $1,155 $838 $1,731 $3,119
Effective property tax rate 0.76% 0.61% 0.7% 0.94%
Renters with high rent for their income 57% 63% 50% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Socorro County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Socorro

For a typical $152,900 home in Socorro, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Socorro's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $1,245a month

    Least cash to close
    Down payment
    $5,352
    Cash to close
    $9,939
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $68

  • Conventional, 5% down $1,217a month

    Down payment
    $7,645
    Cash to close
    $12,232
    Rate
    7.18%
    Mortgage insurance
    PMI · $73

  • Conventional, 20% down, no PMI $989a month

    Down payment
    $30,580
    Cash to close
    $35,167
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $1,131a month

    Down payment
    $22,935
    Cash to close
    $27,522
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Socorro and for Socorro County.

Property tax

Effective rate in Socorro

0.76%of the home’s value each year

$1,155 a year for the typical owner in Socorro.

  • Socorro 0.76%
  • County 0.61%
  • New Mexico 0.7%

What New Mexico publishes 3 percent cap on the yearly increase in your home's taxable value (New Mexico Legislative Finance Committee ("Property Taxes in New Mexico" brief))

Exemptions and deadlines in New Mexico

Flood risk in Socorro County

FEMA does not publish these numbers by city: they are for all of Socorro County.

Homes in the high-risk zone
21%
1,451
Of those, with NFIP insurance
8.3%
County New Mexico U.S.
Homes in the high-risk zone 21% 5.7% 3.5%
Of those, with NFIP insurance 8.3% 16% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Socorro

Typical rent in Socorro is $711 a month: 3% above the county. In Socorro, 57% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Socorro County, by unit size. To pay the 2-bedroom one ($1,014 a month) without spending more than 30% of your income, you would need to earn $19.50 an hour working full time.

HUD fair market rent for all of Socorro County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $807 $15.52 $32,280
1 bedroom $931 $17.90 $37,240
2 bedrooms $1,014 $19.50 $40,560
3 bedrooms $1,404 $27.00 $56,160
4 bedrooms $1,590 $30.58 $63,600

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Socorro

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Socorro is in ZIP code 87801.

For 2 bedrooms it is $1,030: $16 more than the fair market rent for Socorro County ($1,014).

  • 87801 $1,030$1,430

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Socorro when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Socorro

HUD lists 10 buildings with rents for lower incomes in Socorro. These are the largest.

  • Vista Montano 301 Otero Ave E, Socorro 87801 56 low-income homes · For people with disabilities (575) 894-2244
  • Socorro Village 444 Eaton Ave, Socorro 87801 40 low-income homes · For older adults (575) 835-0196
  • Socorro Properties 901 NW Walkway, Socorro 87801 32 low-income homes
  • Granada Iic 713 Highway 60, Socorro 87801 4 low-income homes
  • Reservoir & Grant 207 Grant St, Socorro 87801 3 low-income homes

See all 10 buildings in Socorro County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Socorro

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Socorro County. The nearest ones are below; many serve by phone or online.

A man leans over the armchair to help a teenage girl with her book.

HUD counseling is free or low-cost

Assistance programs in Socorro

No down payment, repair or rent-help program on our list is for Socorro or Socorro County. The ones below are statewide in New Mexico: they work in Socorro the same as in the rest of the state.

Which programs do I qualify for? All programs in New Mexico

  • FirstDown

    Statewide in New Mexico

    New Mexico state agency fixed-rate second mortgage for the down payment and closing costs of first-time buyers, together with the FirstHome mortgage. Offered by Housing New Mexico (New Mexico Mortgage Finance Authority, MFA).

    Repayable

    See the program Official page

  • HomeNow

    Statewide in New Mexico

    New Mexico state agency fixed $7,000 second mortgage for the down payment and closing costs of low-income first-time buyers; no monthly payments and forgivable after 10 years. Offered by Housing New Mexico (New Mexico Mortgage Finance Authority, MFA).

    Forgivable

    See the program Official page

  • FirstDown Plus

    Statewide in New Mexico

    New Mexico state agency fixed $10,000 third loan at 0%, for the down payment only, added to FirstDown or HomeNow; repaid in monthly installments over 15 years. Offered by Housing New Mexico (New Mexico Mortgage Finance Authority, MFA).

    Repayable

    See the program Official page

Housing counselors near Socorro

The HUD-approved agencies closest to the center of Socorro, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Tiwa Lending Services

    117A Tribal Road 40, Isleta · 60 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    (505) 916-0556

  • United South Broadway Corporation

    1500 Walter St SE, Albuquerque · 72 miles away

    • Mortgage delinquency and default
    (505) 764-8867

  • Homewise, Inc.

    500 2nd St. SW, Albuquerque · 72 miles away · Spanish

    Also serves in American Sign Language (ASL).

    • Budget and credit workshops
    • Pre-purchase counseling
    • and 1 more
    (505) 243-6566

All counseling agencies in New Mexico

Help in Spanish near Socorro

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Socorro

In HUD’s record, no housing authority with an office in Socorro County is named for Socorro or Socorro County.

One other authority has an office in Socorro County: see the list Source: HUD

Cities

Nearby cities

The cities closest to Socorro, with the typical home value.

Everything about Socorro County Housing in New Mexico

Neighboring counties

If Socorro County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Socorro.

All guides
A couple spread mulch under the avocado trees of their family orchard, he on the tractor and she with a shovel.

Questions

Housing questions about Socorro

Short answers with the numbers for Socorro and all of Socorro County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Socorro?

The typical home value in Socorro is $152,900, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Socorro County it is $137,500.

How much does it cost to rent in Socorro?

Typical rent in Socorro is $711 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Socorro County is $1,014.

What is the FHA loan limit in Socorro?

Socorro uses the FHA limit for all of Socorro County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Socorro?

The typical homeowner in Socorro pays $1,155 a year, according to the U.S. Census Bureau. That is 0.76% of the home’s value; in Socorro County, the rate is 0.61%.

Where can I find free help to buy or rent in Socorro?

We found no HUD-approved counseling agencies with an office in Socorro County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).