Socorro County, New Mexico Housing Market
In Socorro County, New Mexico, the median home value is $137,500, with a median monthly rent of $691. This places Socorro County at #2399 nationally out of 3134 counties by median home value, and #23 within New Mexico.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $875
- Establishments: 301
- BLS QCEW, 2025
Migration Patterns
- Inflow: 6,004 (avg $48,350)
- Outflow: 5,630 (avg $48,221)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 2 active ZIP codes in Socorro County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 87801 | 207.1 | -13.20% | 2025 |
| 2 | 87002 | 253.3 | +3.06% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
🔗 Explore Socorro County on Our Sister Sites
Get the complete picture for Socorro County — financing options and ongoing ownership costs.
💰 Mortgage Guide → 🧾 Property Tax Data →How Socorro County Compares
| Metric | Socorro County | New Mexico Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $137,500 | $192,727 | $227,706 |
| Median Gross Rent | $691 | $904 | $968 |
| Owner Occupancy Rate | 75.1% | 74.2% | 73.3% |
| Price/Rent Ratio | 16.6 | 17.7 | 18.7 |
Market Analysis
The median home value in Socorro County is 28.7% below the New Mexico state average and 39.6% below the U.S. national average. The median rent of $691/month is 23.6% below the state average.
With a price-to-rent ratio of 16.6, the buy-vs-rent decision in Socorro County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Socorro County has an owner-occupancy rate of 75.1%, compared to 74.2% in New Mexico and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Schuyler County | Missouri | $137,500 | $382 |
| Cleveland County | Arkansas | $137,600 | $536 |
| Duplin County | North Carolina | $137,400 | $865 |
| Jackson County | Illinois | $137,300 | $782 |
| Knox County | Indiana | $137,700 | $796 |
Other Counties in New Mexico
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Roosevelt County | $135,800 | $898 | 60.7% |
| Luna County | $128,000 | $650 | 70.9% |
| Cibola County | $125,400 | $759 | 76.1% |
| Union County | $122,700 | $683 | 72.4% |
| Mora County | $122,600 | $887 | 86.7% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).