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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (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 a population of 34,370, 9,364 total housing units (homes and apartments), and a median house value of $115,201, 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 71.50% of the city's housing units. Other types of housing that are prevalent in Socorro include mobile homes or trailers ( 19.51%), duplexes, homes converted to apartments or other small apartment buildings ( 4.58%), and a few row houses and other attached homes ( 2.73%).

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 74.32% of Socorro's homes, and 70.60% 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 ( 32.20%). A lesser amount of the housing stock also hails from between 1940-1969 ( 8.74%).

Socorro Home Appreciation Rates

Real estate appreciation rates in Socorro's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.30% during the period.

NeighborhoodScout's data show that during the latest twelve months, Socorro's appreciation rate, at 5.72%, has been at or slightly above the national average. In the latest quarter, Socorro's appreciation rate has been 3.11%, which annualizes to a rate of 13.04%.

Importantly, NeighborhoodScout’s exclusive research found that Socorro's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Texas, our data show that Socorro's latest annual appreciation rate is higher 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:
$115,201

Socorro, TX HOME PRICES

> $1,147,000
0.0%
0.0%
$860,001 - $1,147,000
0.1%
0.1%
$574,001 - $860,000
0.4%
0.4%
$458,001 - $574,000
0.2%
0.2%
$344,001 - $458,000
0.6%
0.6%
$229,001 - $344,000
4.6%
4.6%
$115,001 - $229,000
36.9%
36.9%
$57,001 - $115,000
40.8%
40.8%
$0 - $57,000
16.3%
16.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Low for TX

Value Relative To Nation

Number Of Homes And Apartments:
9,364

Socorro Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
85.30% 2.98%
2
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$944 / per month

Homeownership Rate

Owners
74.3%
74.3%
Renters
25.7%
25.7%
Vacant
5.8%
5.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
32.2%
32.2%
1970 - 1999
58.1%
58.1%
1940 - 1969
8.7%
8.7%
1939 or Older
1.0%
1.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
71.5%
71.5%
Townhomes
2.7%
2.7%
Small Apt. Buildings
4.6%
4.6%
Apt. Complexes
1.6%
1.6%
Mobile Homes
19.5%
19.5%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.6%
1.6%
1 Bedroom
3.8%
3.8%
2 Bedrooms
20.2%
20.2%
3 Bedrooms
45.5%
45.5%
4 Bedrooms
25.1%
25.1%
5 or more bedrooms
3.8%
3.8%
0.0% 100.0%
% OF HOMES