Cost Of Living
Everyday cost of living expenses like goods and services, housing, groceries, transportation, health care and utilities are far below the national average.
Housing
Impressive scores in the housing category characterize this area, potentially attributed to the availability of affordable housing, strong appreciation rates and high home values.
Commute
Low commute scores could be due to limited access to public transit in this area, as well as longer-than-average work commute times for residents.
Crime
Reporting high crime rates per 100,000 people, this area may be perceived as an unsafe place to reside. These statistics encompass both violent and property crime rates.
Schools
The low schools score might be a result of factors like lower than average education levels, lackluster reading and math scores and the inaccessibility of local elementary and high schools.
Ratings
Through surveys and polls, AreaVibes obtained feedback from local residents in the area, and the results did not indicate a favorable outlook on factors like local amenities and the safety of the area.
Located in the state of New Mexico, Socorro is a small-sized city with a population of 8,406 inhabitants. At 76%, the majority of the Socorro population is White; this is followed by 6% American Indian and Alaskan and 4% Asian. Additionally, more than a quarter of the population of Socorro are of Hispanic or Latino origin, and 23% of the population also speak Spanish. Single men and women might be happy to hear that in Socorro, only 41% of the population is married. If you're not a fan of traffic congestion and long commute times to work, Socorro is the place to be. Commutes to work here are shorter, with an average one-way commute time taking only 10 minutes, significantly lower than the national average of 26 minutes.
Without the right tools, moving to any new city can be very stressful and challenging. Living in Socorro, New Mexico could be a fulfilling experience for anyone who puts in the effort to do the research required. When searching for a new neighborhood, several key items should be considered. Safety is paramount, ensuring a secure environment for you and your family. Proximity to workplaces or schools reduces commuting time and enhances convenience. Access to amenities like parks, grocery stores and healthcare facilities contributes to a comfortable lifestyle. Reliable public transportation options promote easy mobility. A strong sense of community fosters social connections and a welcoming atmosphere. Using the livability score which includes data from categories like amenities, education, employment, you can easily compare the best places to live in Socorro and also determine if there are any nearby cities that might be a better match for your lifestyle. You can also compare Socorro to New Mexico and the national average.
With a livability score of 63 out of 100, Socorro is ranked #13,168 in the United States and #69 in New Mexico. Based on the grades for each individual category, Socorro has received high marks for cost of living (A+) and housing (A-). There are some categories that Socorro scores poorly for, including: crime (F), education (F) and employment (D). It might be worth taking a closer look to figure out why.
Unemployment rates can vary significantly among cities, impacting job prospects, wage levels and the overall economic health of an area. In Socorro, the unemployment rate stands at 1.5%, suggesting increased job opportunities and a heightened demand for workers. This scenario can lead to higher wages, as the demand for employees outpaces job availability. Importantly, a low unemployment rate often signifies a robust and flourishing local economy.
Real estate represents the most substantial investment for homebuyers, constituting their most valuable asset. Renters, on the other hand, typically see their monthly rent as their most significant expense. The Socorro market earns a high score in the housing category, surpassing the national average in factors like home and rental affordability and appreciation rates. This robust real estate market not only benefits individual homeowners and renters but also spurs vigorous local economic activity and job growth, solidifying its significance in driving the region's prosperity and financial well-being.
Socorro real estate prices and overall affordability will play a huge role in determining if the area is the right fit for you. Of course there are probably some other items on your “wish list”, but even before they are considered, let’s take a look at the home prices and affordability in Socorro. The median home price for Socorro homes is $135,700, which is 16% lower than the New Mexico average. If we take a closer look at the affordability of homes in Socorro, we’ll see that the home price to income ratio is 3.1, which is 11.4% lower than the New Mexico average.
| Statistic | Socorro | New Mexico | National |
| Average one way commute | 10min | 22min | 26min |
| Workers who drive to work | 66.8% | 79.8% | 76.4% |
| Workers who carpool | 8.3% | 10.1% | 9.3% |
| Workers who take public transit | 0.1% | 1.2% | 5.1% |
| Workers who bicycle | 5.8% | 0.7% | 0.6% |
| Workers who walk | 8.7% | 2.2% | 2.8% |
| Working from home | 9.1% | 4.7% | 4.6% |
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