Cost of Living in Socorro County, New Mexico
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Socorro County Compares
Median monthly rent comparison
Detailed Housing Stats
Data Story
About Cost of Living in Socorro County, New Mexico
Socorro County achieves best regional affordability
Socorro's 16.5% rent-to-income ratio stands below both the national average and New Mexico's state average of 19.4%, despite median household income of $47,556. The county manages this advantage through notably low housing costs, with median rent of just $653.
New Mexico's most affordable county for renters
Socorro ranks as New Mexico's most affordable county, with a 16.5% rent-to-income ratio significantly below the state average of 19.4%. This exceptional value stems from the county's rural character and limited demand pressure on housing.
Lowest rents anchor the south-central region
Socorro's $653 median rent represents the region's bargain floor, undercut only by Union County's $650 but substantially below Sierra ($695), San Miguel ($774), and northern counties. Home values ($143,200) remain accessible even for modest-income households.
Housing costs stay comfortably within budgets
Socorro households earning $47,556 annually dedicate just $653 monthly to rent (16.5% of income), the lowest proportional burden in New Mexico. Homeowners pay only $473 monthly, enabling households to allocate remaining earnings to savings and essentials.
Socorro offers genuine housing relief
If you prioritize housing affordability and can embrace a rural lifestyle, Socorro County delivers exceptional value with the state's lowest rent-to-income ratio. Remote workers and retirees will find substantial monthly savings compared to urban New Mexico markets.
Affordability Calculator
See how your income compares to housing costs in Socorro County
Rent Burden
16.5%
of gross income
Max Housing (28% Rule)
$1,110
per month
Owner Cost Burden
11.9%
of gross income
The median home in Socorro County may be a stretch
Median home value is $143,200. Estimated monthly cost: $1,143 vs. your max of $1,110.
Rent Affordability Guide
Frequently Asked Questions
What is the cost of living in Socorro County, New Mexico?
What is the median rent in Socorro County?
Is Socorro County affordable?
How does Socorro County's rent compare to the state average?
What is the median home value in Socorro County?
Planning a Move?
Researching the cost of living in Socorro County, New Mexico? Compare moving quotes from top providers and save on your relocation.
Compare Moving QuotesCounties with Similar Housing Costs
Compare Mortgage Rates in Socorro County
Whether you're buying your first home or refinancing, compare rates from top lenders to find the best deal.
See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.