Cost of Living in Hobbs, NM
Population: 39,887 • 2026 Data
$65,691
Median Household Income
-15% vs national
$1,132
Median Monthly Rent
-16% vs national
$180,700
Median Home Value
-47% vs national
6.6%
Unemployment Rate
Housing in Hobbs
The median home value in Hobbs, NM is $180,700. Monthly rent for a typical unit averages $1,132, while total monthly housing costs (including utilities and insurance) average $1,004.
Rent-to-income ratio: 20.7%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Hobbs, NM is $65,691. The unemployment rate stands at 6.6%, with a labor force of 18,708 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.