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 91, which is 0.9x lower than the national index of 100.
Compared to New Mexico, Socorro has a cost of living index that's 1.0x lower than New Mexico's index of 93.
The standard of living in Socorro ranks as #17 most affordable out of the 45 places we measured in New Mexico. By definition, that implies Socorro ranks as the #28 most expensive place in the Land of Enchantment.
For more reading on life in Socorro, check out:
Socorro Cost Of Living Vs. New Mexico
Six factors go into calculating the cost of living index in Socorro. Here is how it fares on each of the criteria:
The Services index in Socorro is 99.
The Groceries index in Socorro is 95.
The Health index in Socorro is 73.
The Housing index in Socorro is 100.
The Transportation index in Socorro is 96.
The Utilities index in Socorro is 93.
| Living Expense | Socorro | New Mexico | National Average |
|---|---|---|---|
| Overall | 91 | 93 | 100 |
| Services | 99 | 98 | 100 |
| Groceries | 95 | 96 | 100 |
| Health | 73 | 86 | 100 |
| Housing | 100 | 99 | 100 |
| Transportation | 96 | 95 | 100 |
| Utilities | 93 | 94 | 100 |
Socorro Cost Of Living Compared To New Mexico Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around New Mexico, check out:
Protect your home budget Compare home warranties in Socorro Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Socorro, NM Housing Cost Breakdown
Housing swings affordability the most between places in New Mexico, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in Socorro is $190,942.
The Median Rent in Socorro is $711.
The Median Income in Socorro is $39,375.
The Home Value To Income in Socorro is 4.8x.
The Rent To Monthly Income in Socorro is 0.22x.
| Statistic | Socorro | New Mexico | United States |
|---|---|---|---|
| Median Home Value | $190,942 | $316,750 | $332,700 |
| Median Rent | $711 | $1,067 | $1,413 |
| Median Income | $39,375 | $64,059 | $80,734 |
| Home Value To Income | 4.8x | 4.9x | 4.1x |
| Rent To Monthly Income | 0.22x | 0.2x | 0.21x |
Socorro, NM Costs By Category
Detailed Socorro Services costs vs. New Mexico
| Item | Socorro | New Mexico |
|---|---|---|
| Shampoo | $1.15 | $1.28 |
| Movie | $12.54 | $12.13 |
| Bowling | $20.89 | $18 |
| Haircut | $31.9 | $24.26 |
| Beauty Salon | $50.83 | $45.56 |
Detailed Socorro Groceries costs vs. New Mexico
| Item | Socorro | New Mexico |
|---|---|---|
| Ground Beef | $5.11 | $5.84 |
| Fried Chicken | $1.32 | $1.57 |
| Milk | $4.63 | $4.67 |
| Potatoes | $4.18 | $4.93 |
| Pizza | $13.42 | $12.09 |
| Beer | $11.07 | $10.41 |
| Toothpaste | $3.62 | $3.7 |
Detailed Socorro Health costs vs. New Mexico
| Item | Socorro | New Mexico |
|---|---|---|
| Optometrist | $136.89 | $125.68 |
| Doctor | $134.17 | $135.78 |
| Dentist | $111.42 | $113.29 |
Detailed Socorro Transportation costs vs. New Mexico
| Item | Socorro | New Mexico |
|---|---|---|
| Gasoline | $3.5 | $3.46 |
| Tire Balancing | $43.87 | $59.92 |
Detailed Socorro Utilities costs vs. New Mexico
| Item | Socorro | New Mexico |
|---|---|---|
| All Electricity | $191.24 | $193.99 |
| Phone | $190.51 | $192.25 |
Socorro SnackAbility
Cost Of Living In Cities Around Socorro
The cost of living varies in the cities and towns around Socorro. Here's a quick look at the cost of living in the most populous nearby places:
Belen, NM has a cost of living index of 87, 1.0x Socorro.
