Socorro, New Mexico, home to zip code 87801, is a vibrant city where the cost of living is slightly lower than average. The median rent for a two bedroom apartment is $780 per month - less than half of the US average of $1,430. Grocery costs in Socorro index at 92 out of 100 compared to the national average.
The town has a number of amenities and attractions including some great local businesses like Cafe Bella Caffe, La Posta de Mesilla Mexican Restaurant, and nearby Magdalena's Mountain View Grill. There are also plenty of education options with institutions like New Mexico Tech University, Socorro High School and several other primary and secondary schools.
Socorro (zip 87801) has an unemployment rate of 6.6%. The US average is 6.0%.
Socorro (zip 87801) has seen the job market increase by 1.7% over the last year. Future job growth over the next ten years is predicted to be 27.2%, which is lower than the US average of 33.5%.
Tax Rates for Socorro (zip 87801)
- The Sales Tax Rate for Socorro (zip 87801) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Socorro (zip 87801) is 4.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Socorro (zip 87801)
- The average income of a Socorro (zip 87801) resident is $16,928 a year. The US average is $28,555 a year.
- The Median household income of a Socorro (zip 87801) resident is $46,199 a year. The US average is $69,021 a year.