Is Socorro, New Mexico a Good Place To Live? - Living In Socorro, NM

Is Socorro, New Mexico a good place to live?
Socorro is a city in New Mexico state in USA with a population of 8406 residents.. The poverty rate of Socorro is 25.7%, which is 84% higher than national average. The typical household in Socorro earns $43337 a year, compared to the national median of $67,500. Financial hardship is relatively common in the city as 1 in every 4 residents live below the poverty line, well above the national poverty rate of 14.1%. Additionally, more than 1 in every 10 area households live on an income of less than $10,000 a year. Nationwide, 5.8% of households do. Nearly 55.3% of households earn less than $50,000 a year compared to 39% national rate.

A high school education is a basic prerequisite for most jobs, and in Socorro, only 86% of adults have a high school diploma, compared to the 87.7% of adults nationwide. The unemployment rate of Socorro remained 2.9%, which is 38% lower than national rate. Higher educational attainment can lead to improved job security and reduce the likelihood of financial insecurity. In Socorro, only 29% of adults have a bachelor's degree and 28% have some college but no degree.

Cost of living in Socorro is 84, which is 16% lower than national average. Median home value in Socorro is $135700 , which is 41% lower than national average. While median income in Socorro remained $43337, which is 36% lower than national average.
Population
8406
Unemployment
2.9%
38% NAT AVG.
Poverty
25.7%
84% NAT AVG.
Overall Score
6
Median Home Cost
$135700
41% NAT AVG.
Median Income
$43337
36% NAT AVG.
Median Rent
$688
41% NAT AVG.
Cost Of Living
84
16% NAT AVG.
People Living BPL
1 in 4
Unemployed People
1 in 34
People Earning < $10,000
1 in 10
People Earning < $50,000
55.3%
People with <= High School
1 in 2.3
People With Any Degree
1 in 2.8
Pros & Cons Overview

Jobs70%

Housing50%

Affordability70%

Safety70%

Amenities70%

Diversity95%

Education70%

Commute100%