Socorro, TX is a small town located in El Paso County that offers an affordable cost of living. The average 2-bedroom rent in Socorro is $890, compared to the US average of $1,430. Grocery costs are also lower in Socorro with an index score of 90 compared to the US average of 100. Local companies found around Socorro include Rio Auto Sales, Valley Originals Woodworks, and J&L Auto Repair. These businesses offer various services from automotive repairs to furniture building and more.
Socorro has an unemployment rate of 8.6%. The US average is 6.0%.
Socorro has seen the job market increase by 1.9% over the last year. Future job growth over the next ten years is predicted to be 35.4%, which is higher than the US average of 33.5%.
Tax Rates for Socorro
- The Sales Tax Rate for Socorro is 8.3%. The US average is 7.3%.
- The Income Tax Rate for Socorro is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Socorro
- The average income of a Socorro resident is $11,845 a year. The US average is $28,555 a year.
- The Median household income of a Socorro resident is $42,042 a year. The US average is $69,021 a year.