Socorro, TX

Very Low · 57

Texas · Population 36,237 · Updated March 2026

$1,036
Median Rent / Month
$52,100
Median Income
$131,200
Median Home Value
$753
Owner Costs / Month

Affordability

How far your income goes in Socorro

23.9%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Texas

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
6.25%
Sales Tax
1.6%
Property Tax Rate

Estimated Annual Costs

$12,432
Annual Rent
$0
State Income Tax
$2,099
Property Tax (est.)

Cost of Living Overview

Socorro is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 57 (where 100 equals the national median), Socorro residents can expect to pay median rent of $1,036/month while earning a median household income of $52,100/year.

The median home value in Socorro, TX is $131,200, with typical monthly owner costs around $753 including mortgage, insurance, and taxes. The median rent-to-income ratio of 23.9% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Texas has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.25% sales tax rate and 1.6% effective property tax rate, the overall tax environment helps keep costs manageable in Socorro.

Frequently Asked Questions

Common questions about living costs in Socorro

What is the cost of living in Socorro, TX?
The cost of living index in Socorro, TX is 57 (US average = 100). Median monthly rent is $1,036, median household income is $52,100/year, and the median home value is $131,200.
Is Socorro, TX affordable?
Yes, Socorro is more affordable than the national average with a cost index of 57. The rent-to-income ratio is 23.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Socorro, TX?
The median gross rent in Socorro, TX is $1,036 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $12,432.
What is the median household income in Socorro?
The median household income in Socorro, TX is $52,100 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Texas?
Texas has a top income tax rate of 0%, a sales tax of 6.25%, and an effective property tax rate of 1.6%. Notably, there is no state income tax.