Zip 88240 (Hobbs, NM) Housing

Housing in 88240 Hobbs, NM is much more affordable than the US median value. The median value of a house in 88240 Hobbs, NM is $150,200 compared to the US median value of $338,100. The appreciation rate of housing in 88240 Hobbs, NM for the past year was 4.31%, which is less than half of the 8.27% appreciate rate seen nationally. Despite this lower appreciation rate, 88240 Hobbs, NM remains an attractive option due to its affordability.

The median home cost in Hobbs (zip 88240) is $150,200. Home appreciation the last 10 years has been 51.7%. Home Appreciation in Hobbs (zip 88240) is up 6.2%.

Average Age of Homes

- The median age of Hobbs (zip 88240) real estate is 44 years old

The Rental Market in Hobbs (zip 88240)

- Renters make up 28.3% of the Hobbs (zip 88240) population
- 4.2% of houses and apartments in Hobbs (zip 88240), 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.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Hobbs, New Mexico	United States
	15,976.0	139,647,020.0
	48	42
	$150,200	$338,100
	6.2%	16.6%
	33.1%	57.0%
	51.7%	101.1%
	$4.53	$10.98
	$651	$2,690
	54.3%	57.4%
	13.1%	11.2%
	32.5%	31.4%
Vacant Housing
	4.2%	1.9%
	0.4%	0.4%
	0.9%	0.7%
	0.9%	0.4%
	0.6%	3.6%
	6.2%	4.1%
Value of Owner-Occupied Housing
	4.0%	2.6%
	2.7%	2.4%
	4.2%	2.8%
	9.6%	3.9%
	11.2%	4.5%
	20.9%	11.3%
	20.5%	13.0%
	17.2%	20.1%
	4.2%	13.6%
	0.5%	8.3%
	4.5%	9.7%
	0.5%	3.9%
	0.0%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.5%	0.2%
	6.9%	13.6%
	6.9%	13.6%
	5.1%	13.6%
	11.8%	13.2%
	19.4%	14.8%
	5.1%	13.6%
	19.2%	10.0%
	4.7%	4.7%
	2.9%	12.2%

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