Socorro, NM Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2022-04-08
84
Socorro's Overall Cost Of Living
0.8x
Lower Than The National Average
10 out of 44
In New Mexico
629 out of 6,412
In America
The cost of living index is set to 100 for the average place in America. An index above 100 means Socorro is expensive, while a number below 100 means it's a relatively cheap place to live.

What is the cost of living in Socorro, NM?

According to the most recent data on the cost of living, Socorro has an overall cost of living index of 84 which is 0.8x lower than the national index of 100.

Compared to only New Mexico, Socorro has a cost of living index that's 0.9x lower than New Mexico's index of 92.

The standard of living in Socorro ranks as #629 most affordable out of the 6,418 places we measured in New Mexico. By definition, that implies Socorro ranks as the #5,789 most expensive place in the Land of Enchantment.

For more reading on life in Socorro, check out:

Socorro Cost Of Living Vs. New Mexico

Living Expense Socorro New Mexico National Average
Overall 84 92 100
Services 98 92 100
Groceries 97 94 100
Health 97 98 100
Housing 61 87 100
Transportation 88 88 100
Utilities 95 91 100
For more reading on cost of living around New Mexico, check out:
Socorro Cost of Living Vs. NM

Socorro, NM Housing Cost Breakdown

Housing swings affordability the most between places in New Mexico, so we broke down the statistics around housing costs into more detail. It's also important to consider median household incomes to make apples-to-apples comparisons across locations.

Home and income come data comes from the most recent US Census ACS 2014-2018.

$135,700
Median Home Value
$688
Median Rent
$43,337
Median Income
Statistic Socorro New Mexico United States
Median Home Value $135,700 $175,700 $229,800
Median Rent $688 $857 $1,096
Median Income $43,337 $51,243 $64,994
Home Value To Income 3.1x 3.4x 3.5x
Rent To Monthly Income 0.19x 0.2x 0.2x

Detailed Socorro Services Costs Vs. New Mexico

Item Socorro New Mexico
Shampoo $1.0 $1.06
Movie $11.05 $10.68
Bowling $14.51 $14.67

Detailed Socorro Groceries Costs Vs. New Mexico

Item Socorro New Mexico
Ground Beef $4.57 $4.22
Fried Chicken $1.16 $1.39
Milk $2.1 $2.05

Detailed Socorro Health Costs Vs. New Mexico

Item Socorro New Mexico
Haircut $19.67 $18.62
Beauty Salon $39.81 $39.05
Toothpaste $2.83 $2.34

Detailed Socorro Transportation Costs Vs. New Mexico

Item Socorro New Mexico
Potatoes $3.62 $3.29
Pizza $9.99 $10.62
Beer $7.96 $9.38
Optometrist $108.12 $108.57
Doctor $106.93 $116.17
Dentist $98.97 $99.13

Detailed Socorro Utilities Costs Vs. New Mexico

Item Socorro New Mexico
Gasoline $1.85 $2.22
Tire Balancing $49.48 $50.07
All Electricity $155.29 $167.67
Phone $183.94 $175.64

Socorro SnackAbility

6
/10
Overall SnackAbility
Jobs
7/10
Housing
5
Affordability
7
Diversity
9.5
Safety
N/A
Amenities
7
Education
7
Commute
10

Cost Of Living In Cities Around Socorro

City Population Cost Of Living Vs. Socorro
Belen, NM 7,476 86 1.0x

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