Housing costs in Socorro?
A typical home costs
$158,200, which is 53.2% less expensive than the national average of
$338,100 and 40.8% less expensive than the average New Mexico home, at
$267,100. Renting a two-bedroom unit in Socorro costs
$800 per month, which is 44.1% cheaper than the national average of
$1,430 and 27.5% cheaper than the state average of
$1,020.
Can I afford Socorro?
To live comfortably in Socorro, New Mexico, a minimum annual income of
$30,240 for a family, and
$24,000 for a single person is recommended.
What does A.I. say about Socorro?
The cost of living in Socorro, NM is quite reasonable. While some goods and services might be slightly more expensive than larger cities, overall the cost of living index for Socorro is roughly 10% lower than the national average. This makes it an attractive location for those looking to stretch their dollar further. The median home price in Socorro is also quite low, making this a great place to find affordable housing if you are looking to purchase a home.