Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$197,130+3.3% YoY · prices are rising fast
Market right nowBuyer's marketMore homes for sale than last year, 7% have cut their price
Income needed to buy, per year$42,734About 0.9× the local median income ($47,105): affordable for a typical household
Days on market106 daysSlower than a year ago: buyers have time to negotiate
The typical home in Socorro County, NM is worth $197,130, up 3.3% from a year ago. That is well below what local incomes have historically supported: fair value is about $235,325, so the area is 16.2% undervalued. It is a buyer's market: homes take about 106 days to sell, listings are up 41% from a year ago, 7% of listings have had a price cut. A household needs about $42,734 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $47,105. In the latest IRS figures, 76 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$197,130
Change in 1 year
+3.3%
Overvalued %
−16.2%
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Fair home value
$235,325
Change in 5 years
+4.5%
Home value to income
4.2×
Monthly mortgage payment (20% down)
$1,068
Income needed to afford it
$42,734
Property tax rate
0.61%
Rent and investing
HUD Fair Market Rent, 2 bedrooms
$1,014
Market activity
Listings vs a year ago
+40.8%
Days on market
106
Listings with a price cut
7.3%
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Homes for sale
69
Pending sales per 100 listings
16
Asking price per sq ft
$152
People and jobs
Median household income
$47,105
Population change (1 year)
−0.6%
Unemployment rate
1.3%
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Population
15,838
Income adjusted for cost of living
$54,837
Net moves in (IRS)
−76
Cost of living (US = 100)
85.9
Schools, risk and environment
School rating (1 to 10)
4.7
FEMA hazard risk score (0 to 100)
61.5
Unhealthy air days a year
0
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Flood risk score
76.2
Wildfire risk score
87.0
Walkability (1 to 20)
6.2
Road, rail and air noise
54 dB
Questions people ask
Is Socorro County, NM overvalued?
Home prices in Socorro County, NM are well below what local incomes have historically supported: fair value is about $235,325, so the area is 16.2% undervalued.
Is Socorro County, NM a buyer's or seller's market?
Socorro County, NM is a buyer's market: homes take about 106 days to sell, listings are up 41% from a year ago, 7% of listings have had a price cut.
Are home prices going down in Socorro County, NM?
Home values in Socorro County, NM are up 3.3% over the last year.
How much do you need to earn to buy a home in Socorro County, NM?
A household needs about $42,734 a year to afford the typical home in Socorro County, NM at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $47,105.