Hobbs, NM is a great location for housing and offers great value at a competitive median price of $157,100. This is much lower than the US median house value of $338,100. Although the one year US housing appreciation rate is 8.27%, Hobbs has seen a more modest appreciation of 4.31%. This makes Hobbs a desirable location for those looking to purchase property at a significantly lower cost than the national average.
The median home cost in Hobbs is $157,100. Home appreciation the last 10 years has been 51.7%. Home Appreciation in Hobbs is up 6.2%.
Average Age of Homes
- The median age of Hobbs real estate is 45 years old
The Rental Market in Hobbs
- Renters make up 28.7% of the Hobbs population
- 4.2% of houses and apartments in Hobbs, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.