Gallup, NM vs Socorro, NM

Socorro is moderately more affordable than Gallup, with a 5% lower cost of living index. Gallup scores 69 compared to 66 for Socorro, where the US average is 100. This difference means residents of Gallup can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Gallup is $858/month compared to $675/month in Socorro — a 27% difference. Interestingly, home values tell a different story: while Socorro has cheaper rent, Gallup actually has lower median home values ($134,600 vs $162,400).

Median household income in Gallup is $57,466 compared to $51,343 in Socorro (+11.9%). While Gallup is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Gallup spend roughly 17.9% of their income on rent, more than the 15.8% in Socorro.