Lovington, NM Economy

Lovington, NM is a great place to live with much lower housing and grocery costs than the national average. A two bedroom rent in Lovington is $1,010 whereas the US average 2 bedroom rent costs $1,430. Grocery cost index in Lovington is also lower standing at 92 versus 100 in the US. The city offers many employment opportunities in its local companies such as National Beef Packing Company, Lea Regional Medical Center, Allsup's Convenience stores, and Calumet Specialty Products Partners. On top of that ,many other businesses grew out of Lovingon's vibrant agricultural industry.

Lovington has an unemployment rate of 11.3%. The US average is 6.0%.

Lovington 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 Lovington
- The Sales Tax Rate for Lovington is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Lovington 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 Lovington
- The average income of a Lovington resident is $18,313 a year. The US average is $28,555 a year.
- The Median household income of a Lovington resident is $60,357 a year. The US average is $69,021 a year.

Income by Population Percent

Economy	Lovington, New Mexico	United States
	11.3	6
	-12.8%	-6.2%
	22.3%	33.5%
	7.3%	6.2%
	4.9%	4.6%
	$22,033	$37,638
	$60,357	$69,021
	$63,738	$85,028
Population by Occupation
	0.9%	1.2%
	16.2%	0.5%
	13.9%	6.8%
	3.2%	10.0%
	0.9%	2.5%
	8.1%	11.0%
	8.3%	4.8%
	3.2%	0.8%
	1.8%	1.9%
	1.1%	4.7%
	0.4%	1.9%
	2.6%	7.6%
	0.0%	0.1%
	2.8%	4.2%
	8.4%	9.3%
	13.1%	14.0%
	0.2%	2.1%
	7.3%	7.0%
	5.5%	4.8%
	2.3%	4.7%