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These days, finding an affordable place to live in the Hobbs area can be challenging. Home prices in Hobbs are now at a median cost of $123,370, lower than the Texas average of $322,096.
The average cost of rent is $1,127/mo in Hobbs, primarily driven by the current value of real estate in the Hobbs area. In Hobbs, 11.05% of households rent, and 65.16% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Hobbs is $6,828 per month. Households that rent pay about 16.50% of their income on rent here. Hobbs’s most expensive areas are in the central regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Hermleigh, TX: higher priced homes
- Snyder, TX: higher priced homes
- Dunn, TX: higher priced homes
- Union, TX: higher priced homes
- Ira, TX: equally priced homes
- Palava, TX: equally priced homes
- Roby, TX: less expensive homes
- Sylvester, TX: equally priced homes
- Mc Caulley, TX: higher priced homes
- Vincent, TX: higher priced homes
Cities with Similar Populations
- White Signal, NM: higher priced homes
- Belvidere, KS: equally priced homes
- Benoit, WI: higher priced homes
- Bethany, IN: higher priced homes
- Wateree, SC: less expensive homes
- Wayne Center, IL: higher priced homes
- Wesley, MD: higher priced homes
- West Monterey, PA: higher priced homes
- Wheelon, UT: higher priced homes
- White Lakes, NM: higher priced homes
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