Rent to own Homes in Socorro, TX
Socorro was recently voted the 22nd most exciting city in Texas out of over 300 eligible locations! Socorro is located just south of El Paso on the Mexican border. Attractions like the Rio Vista farm ensure that residents always have something on the calendar to do. The recent population boom is an indicator that Socorro is growing quickly and a city one should consider investing in.
Socorro, TX is a great place for affordable rent-to-own homes! With a median household income of over $40,065 and a median rent of $725, the Socorro, TX rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Socorro, TX. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
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Socorro rent to own homesPopular Zip Codes in Socorro, TX
79927 rent to own homesBuying a Home in Socorro, TX
Socorro, TX is seeing rapid growth and Socorro, TX's' housing market remains optimal with an average home price that is -54% below the 2024 national average. Socorro, TX is part of El Paso county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county El Paso is 2.09% which is above the national average, which is 0.99%.
Median Home Price in Socorro, TX
Median Rent in Socorro, TX
Top 3 Reasons to Live in Socorro, TX
Historically rich homes! The historical significance of Socorro's homes is well documented, offering typically southwestern architecture and colonial Spanish influenced home designs near the most beloved attractions. Closely resembling the Alamo in San Antonio, The Socorro Mission is a living piece of history available for all visitors and residents to admire. Possibly the most famous landmark in the city, Socorro Mission is located north of a large residential area and to the west of Socorro High School home of the Bulldogs. This is a great area for new residents to find homes for sale or rent right in the middle of everything.
It's more desirable than ever! The residential market in Socorro's upgraded neighborhoods exhibits plenty of homes for new residents. Rent, rent to own and for sale options abound. Socorro recently added Bulldog Championship Park to their list of exciting outdoor venues and attractions. The additions have gone a long way towards increasing the desirability of the surrounding community. It includes 6.5 acres, a splash playground, amphitheater, pavilions and walking trails. Bulldog Championship Park is centrally located as a hub for activities among the residents of all of Socorro major neighborhoods. Also included in this list are Moon City and Amistad Park among many others.
It's an entertainment capital: There are few places nearby more suited to entertaining residents than the new Socorro Entertainment Center, Speaking Rock. Open 365 days a year and 7 days a week, there is always a big show on stage. From the biggest names in music, to tribute bands from across the country to tailgate celebrations before the big game, Speaking Rock has it all. The shows aren't limited to the resort though, one of Socorro's biggest festivals happens every year near the end of September. Festival de San Miguel features musicians, great local food and arts and crafts from the community and beyond. The festival is a celebration of the patron saint for the Socorro Mission and a fundraiser for support of its continued operations.