Market Overview
Home Prices in Socorro, NM
The median home value in Socorro, NM is $195,403 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.7% compared to a year ago and up 0.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Socorro are priced52% below average.
Over the past five years, Socorro home values have risen by approximately10.3%, reflecting steady appreciation in this market.
Price History
Socorro Home Price Trend
2020
$152,930
$153K
—
2021
$177,226
$177K
+15.9%
2022
$189,928
$190K
+7.2%
2023
$197,674
$198K
+4.1%
2024
$189,580
$190K
-4.1%
2025
$190,216
$190K
+0.3%
2026
$195,403
$195K
+2.7%
City Comparison
Socorro vs. National Median
🏠 Socorro
$195,403
National Median
$410,000
At $195,403, homes in Socorro cost 52% below the national median of $410,000. This makes Socorro a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Socorro?
20% Down Payment
$39,081
on $195,403
Monthly P&I
$1,019/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,294/mo
incl. taxes & insurance
Income Needed
$51,760
gross annual (30% rule)
10% Down Option
$19,540
+ PMI applies
Loan Amount (20% dn)
$156,322
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Socorro, NM?
The median home value in Socorro is $195,403 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.7% year-over-year.
How much have home prices changed in Socorro?
Over the past year, home values in Socorro have increased by 2.7%. Over five years, prices have risen approximately 10.3%.
How much do I need to earn to buy a home in Socorro?
To comfortably afford the median home price of $195,403 with a 20% down payment ($39,081) at today's rates (6.8%), you'd need a gross annual income of approximately $51,760. This assumes keeping total housing costs at or below 30% of gross income.
How does Socorro compare to the national average home price?
The national median home value is approximately $410,000. At $195,403, homes in Socorro are 52% below the national average.