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Socorro, NM&

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Population
8,760
0.94% decline
Median Age
30.5
Median Household Income
$33,214
0.43% decline
Poverty Rate
28.6%
Number of Employees
3,040
1.95% growth
Median Property Value
$114,700
15.3% growth

About the photo: Very Large Array (VLA) interferometer near Magdalena, NM

Economy

The economy of Socorro, NM employs 3,040 people. The economy of Socorro, NM is specialized in Mining, Quarrying, Oil, Gas Extraction; Educational Services; and Utilities, which employ respectively 4.57; 3.16; and 2.22 times more people than what would be expected in a location of this size. The largest industries in Socorro, NM are Educational Services (897), Accommodation & Food Service (502), and Healthcare & Social Assistance (416), and the highest paying industries are Professional, Scientific, Tech Services ($49,375), Finance & Insurance ($40,536), and Educational Services ($24,212).

Median household income in Socorro, NM is $33,214. Males in Socorro, NM have an average income that is 1.28 times higher than the average income of females, which is $36,759. The income inequality of Socorro, NM (measured using the Gini index) is 0.494 which is higher than the national average.

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Health & Safety

Insurance and Medicare coverage combined with state and county level health and safety statistics for Socorro, NM. In Socorro County, NM the age groups most likely to have health care coverage are 6-17 and 55-64, men and women, respectively. The location has a 1 to 52 primary care clinician to patient ratio and a Medicare reimbursement average per patient per year of $6,920. McKinley County, NM has the highest prevalence of homicides of any county in New Mexico.

Coverage

Clinician to Patient Rates

The closest comparable data for the census place of Socorro, NM is from the county of Socorro County, NM.

Insurance Coverage by Age and Gender

Medicare Enrollment and Reimbursements by Location

Trends in Medicare Enrollment and Reimbursements

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Diversity

Socorro, NM is home to a population of 8,760 people, from which 95.9% are citizens. The ethnic composition of the population of Socorro, NM is composed of 4,908 Hispanic residents (56%), 3,143 White residents (35.9%), 433 Native residents (4.94%), 165 Asian residents (1.88%), and 71 Two+ residents (0.81%). The most common foreign languages in Socorro, NM are Spanish (2,922 speakers), Navajo (248 speakers), and French (81 speakers), but compared to other places, Socorro, NM has a relative high number of Navajo (248 speakers), Persian (53 speakers), and Spanish (2,922 speakers).

Age

Age by Nativity

Heritage

Global Diversity

Citizenship

Race & Ethnicity

Non-English Speakers

Military

Veterans

Education

In 2015 universities in Socorro, NM awarded 363 degrees. The student population of Socorro, NM is skewed away from females, with 242 male students and 121 female students. Most students in Socorro, NM are White (212 and 58.4%), followed by Hispanic or Latino (79 and 21.8%), Two or more races (9 and 2.48%), and Asian (9 and 2.48%). The largest universities in Socorro, NM by number of graduates are New Mexico Institute of Mining and Technology (363 and 100%), N/A (N/A and N/A), and N/A (N/A and N/A). The most popular majors in Socorro, NM are Mechanical Engineering (58 and 16%), Petroleum Engineering (40 and 11%), and Computer Science (18 and 4.96%). The median tuition costs in Socorro, NM are N/A for private four year colleges, and $5,841 and $18,991 respectively, for public four year colleges for in-state students and out-of-state students.

Concentrations

Universities

Student Gender for Common Institutions

Student Race & Ethnicity

Housing & Living

The median property value in Socorro, NM is $114,700, which is 0.56 times smaller than the national average of $205,000. Between 2015 and 2016 the median property value increased from $99,500 to $114,700, a 15.3% increase. The homeownership rate of Socorro, NM is 57.6%, which is lower than the national average of 63.6%. People in Socorro, NM have an average commute time of 12.4 minutes, and they commute by Drove Alone. Car ownership in Socorro, NM is lower than the national average, with an average of 1 car per household.

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