Zip 88242 (North Hobbs, NM) Economy


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88242 North Hobbs, NM is a great place to live with a low cost of living. The 2 Bedroom rent is just $1,010 compared to the US average of $1,430, making it an affordable option for families. The grocery cost index in this area is 96 versus 100 in the US, allowing home owners to save even more money on everyday items. North Hobbs residents enjoy many amenities including local parks, shops and restaurants such as Toot'n Totum Food Stores and La Tapatia Mexican Restaurant. With its close proximity to major cities like El Paso, TX and Albuquerque, NM, 88242 North Hobbs is a perfect location for those looking for an affordable yet convenient place to call home.

North Hobbs (zip 88242) has an unemployment rate of 11.3%. The US average is 6.0%.

North Hobbs (zip 88242) has seen the job market decrease by -12.8% 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 (zip 88242)
- The Sales Tax Rate for North Hobbs (zip 88242) is 5.5%. The US average is 7.3%.
- The Income Tax Rate for North Hobbs (zip 88242) 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 (zip 88242)
- The average income of a North Hobbs (zip 88242) resident is $32,500 a year. The US average is $37,638 a year.
- The Median household income of a North Hobbs (zip 88242) resident is $77,534 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyNorth Hobbs, New MexicoUnited States
    Unlock6
    Unlock-6.2%
    Unlock33.5%
    Unlock6.2%
    Unlock4.6%
    Unlock$37,638
    Unlock$69,021
    Unlock$85,028
  Population by Occupation
    Unlock1.2%
    Unlock0.5%
    Unlock6.8%
    Unlock10.0%
    Unlock2.5%
    Unlock11.0%
    Unlock4.8%
    Unlock0.8%
    Unlock1.9%
    Unlock4.7%
    Unlock1.9%
    Unlock7.6%
    Unlock0.1%
    Unlock4.2%
    Unlock9.3%
    Unlock14.0%
    Unlock2.1%
    Unlock7.0%
    Unlock4.8%
    Unlock4.7%
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