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These days, finding an affordable place to live in the North Hobbs area can be challenging. Home prices in North Hobbs are now at a median cost of $264,612, lower than the New Mexico average of $265,486.
The average cost of rent is $1,404/mo in North Hobbs, primarily driven by the current value of real estate in the North Hobbs area. In North Hobbs, 17.49% of households rent, and 46.61% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in North Hobbs is $7,273 per month. Households that rent pay about 19.30% of their income on rent here. North Hobbs’s most expensive areas are in the western regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
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Cities with Similar Populations
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