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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Socorro, TX Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Socorro, TX Housing Market Trends

With 37,772 people, 11,125 houses or apartments, and a median cost of homes of $157,605, house prices in Socorro are solidly below the national average.

Single-family detached homes are the single most common housing type in Socorro, accounting for 71.76% of the city's housing units. Other types of housing that are prevalent in Socorro include mobile homes or trailers ( 15.90%), row houses and other attached homes ( 5.13%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.96%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Socorro. Owner-occupied housing accounts for 79.53% of Socorro's homes, and 76.13% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Socorro built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Socorro built between 2000 and later ( 43.33%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.59%). There's also some housing in Socorro built before 1939 ( 2.25%).

Socorro Home Appreciation Rates

Appreciation rates for homes in Socorro have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 85.58%, which ranks in the top 50% nationwide. This equates to an annual average Socorro house appreciation rate of 6.38%.

Appreciation rates are so strong in Socorro that despite a nationwide downturn in the housing market, Socorro real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Socorro appreciation rates continue to be some of the highest in America, at 7.91%, which is higher than appreciation rates in 86.46% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Socorro. Socorro appreciation rates in the latest quarter were at -0.41%, which equates to an annual appreciation rate of -1.65%.

Relative to Texas, our data show that Socorro's latest annual appreciation rate is higher than 90% of the other cities and towns in Texas.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Socorro differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Socorro - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Socorro real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$157,605

Socorro, TX Home Prices
> $1,418,000
$1,064,001 - $1,418,000
$709,001 - $1,064,000
$567,001 - $709,000
$425,001 - $567,000
$284,001 - $425,000
$142,001 - $284,000
$71,001 - $142,000
$0 - $71,000
0.3%
0.3%
0.6%
0.6%
0.1%
0.1%
0.4%
0.4%
1.1%
1.1%
8.3%
8.3%
47.0%
47.0%
29.7%
29.7%
12.4%
12.4%
0% 100.0%
% of Homes
Low

for Texas

Very Low

for nation

Number of Homes And Apartments:

11,125

Socorro Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,716 / per month

Homeownership Rate

Owners
Renters
79.5%
79.5%
20.5%
20.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.2%
5.2%
94.8%
94.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
43.3%
43.3%
46.8%
46.8%
7.6%
7.6%
2.3%
2.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
71.8%
71.8%
5.1%
5.1%
5.0%
5.0%
1.7%
1.7%
15.9%
15.9%
0.5%
0.5%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.0%
2.0%
1.7%
1.7%
17.5%
17.5%
45.5%
45.5%
30.6%
30.6%
2.7%
2.7%
0% 100.0%
% of Homes