Socorro County Housing Study highlights aging homes, tight market and need for strategic development

An updated Socorro County Housing Study presented during last week’s regional stakeholder session outlines significant challenges in the local housing market, including an aging housing stock, rising costs, and a shortage of units that meet the needs of workers, families and seniors.

The study, prepared by Roots Policy and funded through the City of Socorro’s Thriving Communities grant, is the first comprehensive update since 2016. According to the presentation by Avila Bueno, the county’s population declined by roughly 10 percent between 2010 and 2024, even as the share of older residents increased.

“Between 2010 and 2023, both the city and county experienced a clear aging of the population,” Bueno said, adding that the shift will influence the types of housing needed in the coming decade.

Despite population loss, the housing market remains tight. The study found that about one‑third of the county’s total housing stock is vacant, but most of those units are not available for rent or purchase. Many are tied up in probate, disrepair, or personal use. “Vacant for rent or vacant for sale… vacancies are still relatively low, showing a tight housing market,” said Bueno’s report.

Home prices have climbed sharply since 2020, with the median mortgage‑backed purchase price reaching about $250,000 in 2024. Rents have also increased, particularly for three‑ and four‑bedroom units, reflecting strong demand from families. The study also documented a rise in overcrowding and a significant increase in cost‑burdened households. More than half of renter households spend over 30 percent of their income on housing, and cost burdens have grown even among middle‑income renters earning $35,000 to $75,000 a year.

Survey responses collected last fall reinforce those findings. 23 percent of residents rated their housing as in poor or fair condition, a figure that rose to nearly 40 percent among households earning less than $25,000. Many survey respondents expressed a desire to age in place but noted that older homes often require accessibility upgrades or major repairs.

Roots Policy outlined several strategies to address the county’s housing needs, including expanding affordable housing through Low Income Housing Tax Credit projects, supporting rehabilitation of older homes, and creating a comprehensive inventory of vacant properties using utility shutoff data, tax records and code enforcement information. The study also recommends updating local zoning to support accessory dwelling units and forming a standing housing task force to coordinate efforts among the city, county, New Mexico Tech and other institutional partners.

Developers interviewed for the study cited uncertainty about local demand as a barrier to building new homes. City officials echoed that concern, noting that a previous builder withdrew from a proposed 20‑unit project because no market study existed at the time. With the updated analysis now complete, local leaders hope the data will help attract investment and support long‑term planning.

The final draft of the housing plan is expected by the end of March, after which the city will seek additional public input before moving into implementation.