HomeNew MexicoSocorro County
Socorro County, New Mexico: commercial real estate data.
Socorro County, New Mexico has a population of 16,200 across 6,647 square miles, down 3.8 percent since the 2020 census base. County output reached $666.2 m in 2024, 221 establishments operate here, and the SBA record carries 6 7(a) approvals worth $2.4 m.
109 sourced county values · tier FULL · 10 sections
Socorro County
How many people live in Socorro County
- Population16,200
- Households5,269
- Average household size3.07
- Median household income$36,570
- Median age40.3
- Median gross rent$691 per month
- Median owner-occupied home value$137,500
- Home value to household income3.8 times
- Annual rent as a share of median income22.7 percent
- Adults 25 and over with a bachelor degree or higher19.0 percent
- Adults 25 and over with a graduate degree9.1 percent
- Adults 25 and over10,099
- Population under 183,883
- Share under 1824.0 percent
- Population 65 and over3,410
- Share 65 and over21.0 percent
- Working age population, 18 to 648,907
- Civilian labor force5,098
- Unemployment rate1.3 percent
- Labor force participation, adults 18 and over41.4 percent
- Rank by population among New Mexico counties22nd of 33
- Rank by population among US county-equivalents2084th
Socorro County is the 22nd largest of 33 New Mexico counties by population. A median home costs 3.8 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 24.0 percent against 21.0 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Socorro County
Is Socorro County growing
- Population change since the 2020 census base-3.82 percent
- Census 2020 base population16,601
- Births, 2024153
- Deaths, 2024202
- Natural change, 2024-49
- Net domestic migration, 2024-35
- Net international migration, 202423
- Total net migration, 2024-12
- Cumulative net domestic migration, 2021 to 2024-434
- Rank by growth among US county-equivalents2876th
The county has lost 3.82 percent of its population since the 2020 census base.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Socorro County
Where people moving to Socorro County come from
- Tax returns filed by households arriving355
- People arriving, from those returns604
- Adjusted gross income arriving$15.7 m
- Net adjusted gross income movement$0
- Average income of an arriving household$44,101
- Largest single originSocorro County Non-migrants (5,489 households)
- Largest single destination (5,489 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Socorro County Non-migrants | 5,489 | 10,770 | $265.7 m |
| Other flows - Different State | 160 | 272 | $8.9 m |
| Other flows - Same State | 89 | 142 | $3.4 m |
| Other flows - South | 65 | 115 | $3.8 m |
| Other flows - West | 64 | 105 | $3.5 m |
| Bernalillo County | 58 | 101 | $1.9 m |
| Valencia County | 48 | 89 | $1.5 m |
| Other flows - Midwest | 31 | 52 | $1.5 m |
The largest single source of arrivals is Socorro County Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Socorro County
What the Socorro County economy runs on
- County GDP, 2024$666.2 m
- County GDP, 2023$650.5 m
- GDP change, 2023 to 20242.4 percent
- GDP change over five years29.5 percent
- Rank by GDP among New Mexico counties23rd
- Rank by GDP among US county-equivalents2193rd
- GDP per resident$41,120
Output grew 2.4 percent in the latest year and 29.5 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Socorro County
Who employs people in Socorro County
- Covered employment, annual average4,870
- Establishments reporting388
- Average annual pay$51,836
- Average weekly wage$997
- Sector 44-45, employment485
- Sector 44-45, average annual pay$30,023
- Sector 54, employment304
- Sector 54, average annual pay$79,010
- Sector 52, employment77
- Sector 52, average annual pay$42,155
- Sector 31-33, employment66
- Sector 31-33, average annual pay$42,854
- Sector 23, employment64
- Sector 48-49, employment54
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 44-45 | 485 | 33 | $30,023 |
| Sector 54 | 304 | 37 | $79,010 |
| Sector 52 | 77 | 16 | $42,155 |
| Sector 31-33 | 66 | 8 | $42,854 |
| Sector 23 | 64 | 18 | $42,608 |
| Sector 48-49 | 54 | 8 | $54,973 |
| Sector 81 | 30 | 13 | $26,906 |
| Sector 51 | 22 | 11 | $70,843 |
The largest sector is the biggest private employer group at 485 jobs, 10.0 percent of covered employment. Average pay per job exceeds median household income, which usually means single earner households and a wage base that can carry rent.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Socorro County
What businesses operate in Socorro County
- Establishments, all industries221
- Employment at those establishments2,772
- Annual payroll$102.2 m
- Establishments per 1,000 residents13.6
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Socorro County
How much SBA lending happens in Socorro County
- 7(a) approvals recorded6
- 7(a) gross approval dollars$2.4 m
- Average 7(a) approval$400,583
- Median 7(a) approval$350,000
- 10th percentile approval$36,000
- 90th percentile approval$1,320,000
- Largest single approval$1,320,000
- Jobs reported supported, 7(a)36
- Jobs per approval6.0
- Distinct 7(a) lenders active6
- Distinct industries receiving approvals5
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer16.7 percent
- Loans on real estate terms1
- Loans on working capital terms, 120 months or shorter5
- Franchise loans1
- Franchise share of approvals16.7 percent
- Leading industry by approval countHotels (except Casino Hotels) and Motels (2)
- Most active lenderPromiseOne Bank (1)
- 504 approvals recorded2
- 504 gross approval dollars$4.8 m
- Average 504 approval$2,396,500
- Median 504 approval$2,446,000
- Distinct CDCs active1
- 504 jobs per approval14.0
- 504 jobs per million dollars approved5.8
- Most active CDCMortgage Capital Development Corporation (2)
- 7(a) share of SBA approvals75.0 percent
- Combined SBA approval dollars$7.2 m
The average approval of $400,583 sits close to the median of $350,000, so lending here is fairly evenly sized rather than driven by a few large deals. Only 16.7 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Socorro County
Do SBA loans in Socorro County get paid back
- Loans with a final outcome recorded3
- Paid in full3
- Charged off0
- Status: Paid in full3
- Status: Exempt from disclosure3
Too few loans have reached a final outcome to publish a charge off rate. only 3 resolved loans, too few to publish a rate. A rate computed on a handful of loans is noise, so none is shown.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Socorro County
Which parts of Socorro County get the lending
- Places in the county with recorded lending3
- SOCORRO, approvals4
- VEGUITA, approvals1
- BOSQUE, approvals1
| Place | Approvals | Gross approval dollars |
|---|---|---|
| SOCORRO | 4 | $2,303,500 |
| VEGUITA | 1 | $50,000 |
| BOSQUE | 1 | $50,000 |
SOCORRO accounts for 4 approvals against 1 in VEGUITA. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Socorro County
How big is Socorro County
- Land area6,647 sq mi
- Rank by land area among New Mexico counties2nd of 33
- Width, east to west103.2 mi
- Height, north to south76.2 mi
- Geographies sharing a boundary6
- Residents per square mile of land2
- Establishments per square mile0.03
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- The Building Permits Survey does not carry a 2024 record for this county.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Socorro County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Socorro County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population16,200
- Households5,269
- Average household size3.07
- Median household income$36,570
- Median age40.3
Common questions
Socorro County questions, answered from the record.
How many people live in Socorro County, New Mexico?
16,200, in 5,269 households, ranking 22nd of 33 New Mexico counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Socorro County growing?
The population has fallen 3.82 percent since the 2020 census base. In 2024 there were 153 births against 202 deaths, with net migration of -12. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Socorro County?
$36,570. The median owner-occupied home is valued at $137,500, which is 3.8 times income, and median gross rent is $691 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Socorro County?
221 establishments, employing 2,772 people with an annual payroll of $102.2 m. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Socorro County?
Average annual pay is $51,836, or $997 a week, across 4,870 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Socorro County?
6 7(a) approvals totalling $2.4 m since FY2020, across 6 lenders, with a median approval of $350,000, plus 2 504 approvals worth $4.8 m. These are approvals recorded in the release, not loans disbursed.
What is the radon zone for Socorro County?
Zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Socorro County come from?
The largest single origin is Socorro County Non-migrants, with 5,489 households. Arriving households report an average income of $44,101 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Socorro County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Socorro County?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.