Socorro, TX vs Wichita Falls, TX

Socorro, TX and Wichita Falls, TX have a very similar cost of living, with only a 1.8% difference in their overall index. Socorro scores 74 while Wichita Falls scores 73 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Socorro is $1,036/month compared to $978/month in Wichita Falls — a 6% difference. Interestingly, home values tell a different story: while Wichita Falls has cheaper rent, Socorro actually has lower median home values ($131,200 vs $142,600).

Median household income in Socorro is $52,100 compared to $58,568 in Wichita Falls (-11%). Wichita Falls offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Socorro spend roughly 23.9% of their income on rent, more than the 20% in Wichita Falls.