Socorro, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Socorro Neighborhoods Since 2000




Socorro, TX Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Socorro Housing Market Information

With a population of 33,222, 8,984 total housing units (homes and apartments), and a median house value of $87,799, 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 71.00% of the city's housing units. Other types of housing that are prevalent in Socorro include mobile homes or trailers ( 20.21%), duplexes, homes converted to apartments or other small apartment buildings ( 6.18%), and a few row houses and other attached homes ( 1.79%).

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 74.34% of Socorro's homes, and 69.24% 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 ( 26.20%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.70%).

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 2.07%, which ranks in the top 50% nationwide. This equates to an annual average Socorro house appreciation rate of 0.21%.

NeighborhoodScout's data show that during the latest twelve months, Socorro's appreciation rate, at 3.19%, has been at or slightly above the national average. In the latest quarter, Socorro's appreciation rate has been 0.83%, which annualizes to a rate of 3.36%.

Relative to Texas, our data show that Socorro's latest annual appreciation rate is lower than 80% 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:
$87,799

Socorro, TX HOME PRICES

Value Range
> $1,043,000 0.0
$782,001 - $1,043,000 0.0
$522,001 - $782,000 0.2
$417,001 - $522,000 0.1
$313,001 - $417,000 0.3
$208,001 - $313,000 3.7
$105,001 - $208,000 28.2
$52,001 - $105,000 47.2
$0 - $52,000 20.3

Low for TX
Very Low for Nation

Value Relative to Nation Value Relative to State
85.6088128442517 76.6536964980545

Number Of Homes And Apartments:
8,984

Socorro Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
53.41% 2.51% 2 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$955 / per month

Homeownership Rate

Homeownership
Owners 74.34
Renters 25.66
Vacant 6.35

Housing Market Details

 

Age of Homes

AGE OF Socorro HOMES
2000 or Newer 26.2
1970 - 1999 63.7
1940 - 1969 9.7
1939 or Older 0.4

Types of Homes

TYPE OF Socorro HOMES
Single-Family 71.0
Townhomes 1.8
Small Apt. Buildings 6.2
Apt. Complexes 0.8
Mobile Homes 20.2
Other 0.0

Home Size

SIZE OF Socorro HOMES
No Bedroom 1.86
1 Bedroom 4.73
2 Bedrooms 20.38
3 Bedrooms 50.56
4 Bedrooms 18.68
5 or more bedrooms 3.79