Lovington, NM is a city located in Lea County, New Mexico. As of 2019, the population was 8,826 which makes it one of the state's smaller cities. Lovington is known for being an agricultural hub with a number of farming-based businesses operating in the area. For example, Pioneer Farming Company offers corn, cotton, sorghum and wheat crop production services to commercial farms in the region while Farmington Peanut Company provides high quality peanut products. Renters will be pleased to find that 2 bedroom rent in Lovington is much more affordable than the US average at just $1,020 per month. Additionally, grocery cost index in Lovington is 92 which is lower than 100 in the US. This means that groceries are generally less expensive here than most other places across America.
Lovington (zip 88260) has an unemployment rate of 11.3%. The US average is 6.0%.
Lovington (zip 88260) 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 (zip 88260)
- The Sales Tax Rate for Lovington (zip 88260) is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Lovington (zip 88260) 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 (zip 88260)
- The average income of a Lovington (zip 88260) resident is $19,813 a year. The US average is $28,555 a year.
- The Median household income of a Lovington (zip 88260) resident is $65,203 a year. The US average is $69,021 a year.