Housing in North Hobbs, NM is relatively affordable compared to the national average. The median home value in North Hobbs is $240,400, compared to the US House Median Value of $338,100. Over the last year, house appreciation in North Hobbs was 4.31%, which is lower than the US 1 year House Appreciation of 8.27%. This indicates that homeowners in North Hobbs may be seeing slower growth in their home values than other areas of the country. Despite this, North Hobbs remains a great place to find an affordable home and invest in real estate.
The median home cost in North Hobbs is $240,400. Home appreciation the last 10 years has been 51.7%. Home Appreciation in North Hobbs is up 6.2%.
Average Age of Homes
- The median age of North Hobbs real estate is 31 years old
The Rental Market in North Hobbs
- Renters make up 15.1% of the North Hobbs population
- 3.8% of houses and apartments in North 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.