The story of this market
The typical home in ZIP 88423 sells for about $155,000, or $112 per square foot.
Prices are down 2.5% from a year ago, which gives buyers more room to negotiate. Homes take about 128 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $950 a month.
ZIP 88423
The housing market in 88423 is characterized by low transaction volume and stable, affordable pricing. Market conditions remain neutral as limited inventory meets modest demand, with no significant development or economic shifts driving price volatility.
This ZIP is best suited for those seeking affordable, rural living, including retirees or individuals working in agriculture and regional services who prioritize space over proximity to urban amenities.
Median prices moved down 2.5% year over year.
Homes spend a median of 128 days on market with 7.0 months of supply — a slower-moving market.
14% of listings have cut prices · homes sell at 94.5% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.8% · poverty 19.5% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net outflow — more people moved out than in
ZCTA 88423, Socorro County, NM
Crime data for this rural area is not determinable at the ZIP level, though regional trends in Socorro County generally reflect low population density with isolated incidents.
Schools serving this area are part of the Socorro Consolidated School District, which faces challenges typical of rural New Mexico districts regarding resource allocation and student performance.
The area is subject to high desert environmental risks, including wildfire potential and flash flooding during monsoon seasons; insurance availability is standard for rural New Mexico.
Economic momentum is limited, with the area primarily serving as a rural residential base for workers commuting to Socorro or regional agricultural hubs.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (New Mexico) — New Mexico Ad Valorem Property Tax: Tax is calculated by applying a tax rate (expressed in mills) to the net taxable value. The net taxable value is defined as one-third (33.33%) of the taxable value of the property.
Commutes are primarily by private vehicle, with residents traveling significant distances to reach employment centers in Socorro or along the I-25 corridor.
Recreation is centered on outdoor activities, including access to nearby public lands, hiking, and the natural desert landscape of the Rio Grande Valley.
The rental market is thin with limited inventory, primarily consisting of single-family homes and mobile homes; vacancy pressure is low due to lack of new supply.
The local economy is driven by agriculture, government services, and proximity to research and educational institutions in Socorro.
Transportation is entirely dependent on personal vehicles, with I-25 serving as the primary artery for regional travel.
There are no major commercial or residential developments currently approved or under construction in this ZIP.
The Socorro County Assessor maintains property valuations based on annual market analysis and state-mandated assessment cycles.
Parcels are served by the Socorro Consolidated School District and local rural utility cooperatives.
Property insurance premiums are influenced by wildfire risk and the rural nature of the geography, which can limit carrier options.
New Mexico has seen modest net domestic migration, with rural areas like Socorro County experiencing stable but slow population shifts.
New Mexico is a judicial foreclosure state, requiring court intervention for the foreclosure process.
Sellers are required to provide a property disclosure statement covering known material defects at the time of sale.
Data retrieved from data.census.gov ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Taylor Park Trading Post4.42.2 mi
- Gunnison National Forest4.811.4 mi
- Denny Creek Trailhead4.810.9 mi
- Silver Plume Rentals512.7 mi
- St. Elmo, CO4.712 mi
- Taylor Park Trading Post4.42.2 mi
- Gunnison National Forest4.811.4 mi
- Denny Creek Trailhead4.810.9 mi
- Cottonwood Pass57.1 mi
- Taylor Park Marina4.83.1 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A major regional attraction for birdwatching and wildlife photography located near the area.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.