Socorro, NM
Population 8,540 · New Mexico
About Socorro, NM
Socorro is a small town located in New Mexico with a population of 8,540 residents according to the latest US Census Bureau American Community Survey data. The median household income is $51,343 per year, which is 32% below the national median of $75,149. The median age of 36.4 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Socorro features a median home value of $162,400, which is 34% below the national median of $244,900. This positions Socorro in a moderately priced market relative to the rest of the country. Median monthly rent is $675, 42% below the national average of $1,163/month. Of the 3,679 total housing units, 60% are owner-occupied (1,610 units) and 40% are renter-occupied (1,074 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Socorro shows an unemployment rate of 0.7%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 24.9%, above the national average of 12.4%. Workers in Socorro have an average one-way commute time of 11 minutes, one of the shorter commutes in the region.
Education & Demographics
28.0% of Socorro residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 22.9% White, 7.4% Hispanic or Latino, 0.3% Black or African American, and 28.1% Asian residents, with 7.8% of the population being foreign-born.
How Socorro Ranks in New Mexico
Cost of Living in Socorro, NM
Compared to national averages, Socorro has a median household income of $51,343 (32% below the national median of $75,149). Home values average $162,400, which is 34% below the national median. Monthly rent at $675 is 42% below the US average of $1,163. Within New Mexico, Socorro's income is 24% below the state average of $67,435, and home values are 31% below the state median of $233,762.
Why Live in Socorro, NM?
Socorro offers affordable housing with a median home value of $162,400, below the US average of $244,900, and rent that’s lower than the national average at $675/month, and a strong job market with an unemployment rate of just 0.7%. Additionally, the city features short commute times averaging just 11 minutes.
Potential considerations include median household income ($51,343) that falls below the national average. However, Socorro’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Socorro has a population of 8,540 with a median age of 36.4 years. Compare Socorro with other cities to see how it stacks up, or explore all cities in New Mexico.
Similar Cities Near Socorro
Cities in New Mexico with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Corrales | 8,557 | $114,207 | $549,700 | Compare |
| Anthony | 8,701 | $33,141 | $110,800 | Compare |
| Shiprock | 8,339 | $41,563 | $101,500 | Compare |
| Bernalillo | 9,068 | $61,624 | $237,100 | Compare |
| Grants | 9,106 | $49,286 | $123,600 | Compare |
| Ruidoso | 7,701 | $50,259 | $229,100 | Compare |
| Silver City | 9,574 | $39,025 | $160,900 | Compare |
| Belen | 7,427 | $40,354 | $154,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Mexico
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Socorro With Other Cities
Frequently Asked Questions about Socorro
What is the population of Socorro, NM?
The population of Socorro, NM is 8,540 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in New Mexico.
What is the median household income in Socorro?
The median household income in Socorro, NM is $51,343 per year, which is 32% below the national median of $75,149.
What is the median home value in Socorro?
The median home value in Socorro, NM is $162,400, which is 34% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Socorro?
The median monthly rent in Socorro, NM is $675, which is 42% below the national average of $1,163/month.
What is the unemployment rate in Socorro?
The unemployment rate in Socorro, NM is 0.7%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Socorro, NM a good place to live?
Socorro offers a moderate cost of living, affordable housing, and a strong job market. With a population of 8,540 and a median age of 36.4, the city appeals to a broad range of residents.
How educated is Socorro, NM?
28.0% of residents in Socorro aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Socorro?
Key cost-of-living indicators for Socorro, NM: median home value is $162,400 (34% below national), median rent is $675/month, and median household income is $51,343. The home-value-to-income ratio is 3.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Socorro?
The poverty rate in Socorro, NM is 24.9%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Socorro, NM?
Socorro's population is 22.9% White, 7.4% Hispanic or Latino, 0.3% Black or African American, 28.1% Asian, and 0.4% two or more races. 7.8% of residents are foreign-born.