North Hobbs, NM is a vibrant city located in the southern part of the state. It is a popular destination for those looking for affordable rent and living costs, with average two bedroom rent costing only $1,000 a month. This is significantly lower than the U.S. average of $1,430 for two bedrooms. Grocery costs are also relatively low in North Hobbs, scoring 96 on the cost index compared to 100 in the U.S. Popular local companies include Oilfield Water Solutions, an oilfield services company; and Hinojos Welding & Fabrication Inc., a welding services provider based in Hobbs.
North Hobbs has an unemployment rate of 11.3%. The US average is 6.0%.
North Hobbs has seen the job market increase by 7.8% over the last year. Future job growth over the next ten years is predicted to be 22.3%, which is lower than the US average of 33.5%.
Tax Rates for North Hobbs
- The Sales Tax Rate for North Hobbs is 5.5%. The US average is 7.3%.
- The Income Tax Rate for North Hobbs is 4.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for North Hobbs
- The average income of a North Hobbs resident is $33,680 a year. The US average is $28,555 a year.
- The Median household income of a North Hobbs resident is $74,207 a year. The US average is $69,021 a year.