Pay and cost of living in Socorro County, NM
Socorro County, NM is part of the Eastern New Mexico nonmetropolitan area labor market, and this page summarizes 1 occupations with published wages there. The median of their median salaries is $27,420 a year. The best-paid occupation listed is Home Health and Personal Care Aides at $27,420, and the lowest is Home Health and Personal Care Aides at $27,420.
A one-bedroom apartment in Socorro County, NM has a HUD Fair Market Rent of $931 a month and a two-bedroom $1,014. Rent, food, home energy and gasoline for one adult add up to $17,864 a year. After federal, FICA and state income taxes, the average occupation here takes home $23,851 a year, and every one of the 1 occupations listed here earns enough take-home pay to cover the four basics.
Each occupation links to a detailed page with gross pay, take-home pay, rent, food and energy costs, and the monthly budget margin. All pages share one method, which makes it easy to compare jobs inside Socorro County, NM or against other counties.
Housing, taxes and commute in Socorro County, NM
The figures below are exact U.S. Census Bureau American Community Survey 2020-2024 5-year estimates for Socorro County, NM, set beside the New Mexico and national medians.
Median household income in Socorro County, NM is $36,570, 43% below the New Mexico median of $64,059 and $80,734 nationally. A year of one-bedroom Fair Market Rent ($11,172) equals 30.5% of that income. The median of the occupation medians listed here, $27,420, is 25% below household income, which is expected because a household can hold more than one earner.
Homeowners in Socorro County, NM pay a median of $838 a year in real estate taxes, 52% below the New Mexico median of $1,731. With a median home value of $137,500, 45% below the New Mexico median of $248,100, the ratio of the two medians is 0.61% a year.
Renters in Socorro County, NM pay a median gross rent of $691 a month in the Census survey, 35% below the New Mexico median of $1,067. HUD's one-bedroom Fair Market Rent used for the budgets on this site is $931; the Census figure covers rental units of every size.
Workers in Socorro County, NM who travel to a workplace spend an average of 16.2 minutes each way, 31% below the New Mexico average of 23.5. 18.0% of workers work from home, compared with 15.1% nationally.