There are currently 17 real estate properties in Socorro, NM, with a median automated valuation model (AVM) price of $254,900.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Socorro, NM, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Socorro, NM, is $270,147.00, with the most expensive house in Socorro, NM, topping out at $735,300.00 and the cheapest home in Socorro, NM, clocking in at $44,100.00. In other words, there’s something for every potential homebuyer or savvy investor in Socorro, NM!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Socorro, NM, is on a rollercoaster ride. The average rent price in Socorro, NM, is $1,219.00. Indeed, when looking to rent in Socorro, NM, you can expect to pay as little as $590.00 or as much as $1,900.00, with the average rent median estimated to be $1,170.00. The good news is that finding an affordable and desirable property to rent in Socorro, NM -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Socorro, NM area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Socorro, NM and much more. Save thousands at closing with home foreclosure listings in Socorro, NM — up to 75% off market value!
Socorro is located in Socorro, New Mexico, with an estimated municipal population of 8,348 residents. All of the best foreclosed homes for sale in Socorro are located in the following zip code areas on Foreclosure.com: 87801. The estimated population per square kilometer (.62 miles) in Socorro is 223.
So, about how much do homes cost in Socorro? The most recent median value of resident-owned homes in Socorro is 140,467. An estimated 62.2 percent of households in Socorro own their homes, with an average family size of 4.81. The median household income in Socorro is 41,271, with19.5 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Socorro, the median commute time of resident workers (in minutes) is 11.2. And last, but certainly not least, are you looking for homes to rent in Socorro? If so, the average rent price paid by renters in Socorro is 636, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Socorro, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Socorro is 30.1, split between 55.4 percent male versus 44.6 female. The percentage of residents who report being married in Socorro is 27.9, with an average family size of 4.81.
The percentage of residents who report their race in Socorro is as follows:
|Black / African American||1.1%|
|American Indian / Alaskan Native||6.5%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Socorro? Or maybe you are searching for 55+ active adult communities in and/or near Socorro?
The percentage of residents who report their age in Socorro is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Socorro with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Socorro.
How do you know that living in -- or moving to -- Socorro is right where you need to be? Perhaps you grew up in Socorro or already live nearby; therefore, the decision to buy a home in Socorro is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Socorro for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Socorro:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Socorro.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Socorro can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Socorro, meanwhile, can field multiple offers from more qualified buyers.