Socorro, Texas Housing Market Prices
Socorro 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.
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Median home price 15% below the Texas median$218,889
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Median rent 25% below the Texas median$1,053
Housing Market Overview
| Metric | Socorro | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $218,889 | $258,873 | $248,835 |
| Price Trend (Annual %) | 7.5% | 9.2% | 7.5% |
| Median Gross Rent | $1,053 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 6.5% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Socorro is about 15% lower than in Texas. Rent is about 25% lower than the Texas 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, up about 7.5% and 6.5% a year respectively. Home prices are changing faster.
Median rent in Socorro rose about 59.4% between 2015 and 2024, from $661 to $1,053. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 3.9 yearly household incomes in Socorro.
Buying the median-priced home in Socorro costs roughly 17.3 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. The price-to-rent ratio in Texas is about 15.4.
| Metric | Socorro | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $218,889 | $258,873 | $248,835 |
| Median Household Income | $55,674 | $78,939 | $80,455 |
| Price-to-Income Ratio | 3.9 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Socorro rose about 61.4%, while median household income rose about 65.3% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Socorro | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 78.5% | 56.7% | 58.5% |
| Rental Rate | 16.3% | 33.9% | 31.2% |
| Vacancy Rate | 5.1% | 9.4% | 10.2% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Socorro has a homeownership rate of 78.5%, higher than the Texas average of 56.7%. Its housing vacancy rate is 5.1%, compared with 9.4% in Texas.
Housing Stock
| Metric | Socorro | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.21 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 2001 | 1990 | 1978 |
| Median Number of Rooms | 5.6 | 5.4 | 5.5 |
The typical housing unit in Socorro was built around 2001. On average, 3.2 people live in a home with about 5.6 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Socorro, Texas.
What is the median home price in Socorro, Texas?
The median home price in Socorro, Texas is $218,889, lower than the Texas average of $258,873.
What is the average home price in Socorro, Texas?
The typical home price in Socorro, Texas, reported as the median sale price, is $218,889. 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, Texas?
The median gross rent in Socorro, Texas is $1,053 per month, lower than the Texas average of $1,402.
What was the median gross rent in Socorro in 2020?
In 2020, the median gross rent in Socorro, Texas was $747 per month.
What is the price-to-rent ratio in Socorro, Texas?
The price-to-rent ratio in Socorro, Texas is about 17.3, meaning it would take roughly 17.3 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.
Are home prices or rent rising faster in Socorro, Texas?
Both home prices and rent are rising in Socorro, up about 7.5% and 6.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Socorro, Texas?
78.5% of households in Socorro, Texas own their home, higher than the Texas average of 56.7%.
What is the vacancy rate in Socorro, Texas?
The housing vacancy rate in Socorro, Texas is 5.1%, lower than the Texas average of 9.4%.
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