Socorro County, New Mexico Housing Market Prices
Socorro County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
-
Median home price 26% below the New Mexico median Cheaper than 72% of counties in New Mexico$151,996
-
Median rent 35% below the New Mexico median Among the top 5 cheapest counties in New Mexico$690
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Socorro County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $151,996 | $204,122 | $248,835 |
| Price Trend (Annual %) | 5.4% | 3.1% | 7.5% |
| Median Gross Rent | $690 | $1,067 | $1,407 |
| Rent Trend (Annual %) | 1.8% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Socorro County is about 26% lower than in New Mexico. Rent is about 35% lower than the New Mexico average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Socorro County, up about 5.4% and 1.8% a year respectively. Home prices are changing faster.
Median rent in Socorro County rose about 18.7% between 2015 and 2024, from $581 to $690. Over the same span, rent in New Mexico rose about 37.3%.
Affordability
On average, housing unit costs 4.1 yearly household incomes in Socorro County.
Buying the median-priced home in Socorro County costs roughly 18.3 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Socorro County. The price-to-rent ratio in New Mexico is about 15.9.
| Metric | Socorro County | New Mexico Avg | US Average |
|---|---|---|---|
| Median Home Price | $151,996 | $204,122 | $248,835 |
| Median Household Income | $37,471 | $64,523 | $80,455 |
| Price-to-Income Ratio | 4.1 | 3.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Socorro County rose about 69.3%, while median household income rose about 23.5% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Socorro County | New Mexico Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.4% | 61.3% | 58.5% |
| Rental Rate | 17.1% | 26.2% | 31.2% |
| Vacancy Rate | 31.5% | 12.5% | 10.2% |
| Median Tenure (years) | 20.0 | 16.0 | 15.0 |
| Median Year Moved In | 2006 | 2010 | 2011 |
Socorro County has a homeownership rate of 51.4%, lower than the New Mexico average of 61.3%. Its housing vacancy rate is 31.5%, compared with 12.5% in New Mexico.
Housing Stock
| Metric | Socorro County | New Mexico Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.93 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1978 | 1983 | 1978 |
| Median Number of Rooms | 4.8 | 5.3 | 5.5 |
The typical housing unit in Socorro County was built around 1978. On average, 2.9 people live in a home with about 4.8 rooms, staying for about 20.0 years on average.
Socorro County, NM Housing Compared With Nearby Counties
Socorro County, NM is the 3rd largest of the 5 counties compared here, 16,198 residents against a local median of 21,161. The measure that sets Socorro County, NM apart most is median home price: $151,996, 28% below the local median of $210,070.
Median rent tells the same story from another angle: $690 against a local median of $815, 15% below it. The counties themselves spread $100,553 on median home price, so Socorro County, NM sits at one end of an already wide local range rather than apart from it. Socorro County, NM has the 5th highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Socorro County, NM | 16,198 | $151,996 #5/5 | $690 #5/5 | 75.1% #3/5 |
| Sierra County, NM | 11,501 | $222,914 | $729 | 71.8% |
| Bernalillo County, NM | 672,163 | $260,969 | $1,145 | 64.6% |
| Torrance County, NM | 15,478 | $197,226 | $871 | 81.7% |
| Cibola County, NM | 26,844 | $160,417 | $759 | 76.1% |
Frequently Asked Questions
Common questions about the housing market in Socorro County, New Mexico.
What is the median home price in Socorro County, New Mexico?
The median home price in Socorro County, New Mexico is $151,996, lower than the New Mexico average of $204,122.
What is the average home price in Socorro County, New Mexico?
The typical home price in Socorro County, New Mexico, reported as the median sale price, is $151,996. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Socorro County, New Mexico?
The median gross rent in Socorro County, New Mexico is $690 per month, lower than the New Mexico average of $1,067.
What was the median gross rent in Socorro County in 2020?
In 2020, the median gross rent in Socorro County, New Mexico was $695 per month.
What is the price-to-rent ratio in Socorro County, New Mexico?
The price-to-rent ratio in Socorro County, New Mexico is about 18.3, meaning it would take roughly 18.3 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Socorro County.
Are home prices or rent rising faster in Socorro County, New Mexico?
Both home prices and rent are rising in Socorro County, up about 5.4% and 1.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Socorro County, New Mexico?
51.4% of households in Socorro County, New Mexico own their home, lower than the New Mexico average of 61.3%.
What is the vacancy rate in Socorro County, New Mexico?
The housing vacancy rate in Socorro County, New Mexico is 31.5%, higher than the New Mexico average of 12.5%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →