Socorro cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Cost of living index8091100
Goods & Services index9093100
Groceries index10191100
Health care index9896100
Housing index5283100
Transportation index9294100
Utilities index87100100
Here we can see a simple outline of the cost of living in Socorro, TX. As you can see, with the average cost of living in Socorro, TX being 80, that puts it 11% lower than the average of Texas and 20% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Socorro, TX, the price of goods and services are 3% lower than the average of Texas as well as 10% lower than the nation's average.

Did you know?

  • The cost of living in Socorro is 11% lower than the Texas average.
  • The cost of living in Socorro is 20% lower than the national average.
  • The cost of housing in Socorro is 48% lower than the national average.
  • Texas general sales tax is 23% higher than the national average.
  • Texas state income tax is 100% lower than the national average.

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Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is used in order to provide a comparison of your current salary in Socorro, TX to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Socorro, TX, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Socorro, TX salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
If you want to find a good determining factor for the cost of living and the general affordability of housing in Socorro, TX, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Socorro, TX, the median monthly income is $35,252 for those who own their own homes. Under the standard rule, that income level would allow for $822 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $24,471, per the median income in the area. That would allow for renters to spend up to $571 on monthly rental expenses.

Texas Sales Tax

StateGeneral Sales TaxWith Max Surtax

Texas Income Tax

StateIncome Tax (Low)Income Tax (High)
The Texas sales tax and Texas income tax rates should definitely be considered when determining the overall cost of living in Socorro, TX. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Texas sales tax is 6.25% and the maximum surtax is 8.25%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Texas income tax rates range from 0% to 0%.

Goods & Services

ItemSocorroNational avg.Difference
Haircut $14.66$16.098.8%
Beauty Salon $34.84$37.336.7%
Toothpaste $1.93$2.4521.1%
Shampoo $1.33$1.0033.3%
Movie $10.25$10.280.3%
Bowling $4.01$4.9318.7%


ItemSocorroNational avg.Difference
Ground Beef $3.59$3.805.6%
Fried Chicken $1.48$1.405.8%
Milk $2.04$2.011.7%
Potatoes $2.25$3.0125.2%
Pizza $9.34$9.895.6%
Beer $9.30$8.904.5%

Health Care

ItemSocorroNational avg.Difference
Optometrist $83.00$102.1618.8%
Doctor $88.87$108.3618.0%
Dentist $103.26$92.5311.6%
Ibuprofen $9.34$9.280.6%
Lipitor $420.38$425.821.3%


ItemSocorroNational avg.Difference
Home Price $85,300.00$184,700.0053.8%
Avg. Mortgage Payment $966.89$1,202.4419.6%
Apartment Rent $624.00$949.0034.2%


ItemSocorroNational avg.Difference
Gasoline $2.21$2.241.7%
Tire Balancing $36.39$46.2921.4%


ItemSocorroNational avg.Difference
All Electricity$158.52$165.964.5%
Phone $22.20$28.6822.6%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Butterfield, TX5472-28%
Sparks, TX4,20875-25%
Agua Dulce, TX3,01176-24%
Fabens, TX7,16876-24%
San Elizario, TX9,14477-23%
Socorro, TX32,98880-20%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Foster City, CA32,967218118%
Newark, DE32,94111717%
Lexington, MA32,93619292%
Copperas Cove, TX33,05285-15%
Ferry Pass, FL33,06094-6%
Socorro, TX32,98880-20%
Source: The Socorro, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.