Socorro County, NM real estate

What the numbers say

Socorro County, NM real estate at a glance

By AstroCore · Realtor.com, US Census and Freddie Mac data

Homeowners in Socorro County pay a median of $838 a year in property taxes on a median home value of $137,500, an effective rate of about 0.61%. The New Mexico average is 0.70%, which makes Socorro County the #23 lowest-tax of 33 counties in the state with published tax data.

Renters pay a median of $691 a month, and $573 for a two-bedroom. At today's prices a typical home costs about 17 times a year's rent.

With 20% down and today's 7.24% average 30-year rate, the monthly payment on a $138,000 home here comes to about $877 including property tax and insurance. Lenders typically want that to be under 28% of income, which works out to roughly $38,000 a year (the median household here earns $36,570).