Cost of Living in Hobbs, NM
Population 39,887 · New Mexico · Data vintage 2023
(100 = US avg)
Housing costs in Hobbs stay well under national norms: a median home value of $181,000 against median household incomes of $65,691 gives the city one of the more comfortable price-to-income ratios in New Mexico. A poverty rate near 20% adds context to the income figures — well above the US average, and worth factoring into any comparison with cities on the coasts or in the Rockies.
Located 75 miles northwest of Odessa, Hobbs is far enough out that local conditions diverge meaningfully from the big-metro baseline. Median home values run roughly 13% lower than Odessa's $208,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Hobbs
The median home value in Hobbs is $180,700 — 41% below the national median of $305,000. Median rent runs $1,132/month, 14% lower than the national median of $1,314/month. The median household income of $65,691/year is 12% lower than the US median of $74,580. The local unemployment rate is 6.6%, above the national average of 4.8%. New Mexico's top state income tax rate is 5.9% and the combined sales tax is 7.7%. The climate averages highs of 80.1°F and lows of 50.9°F. Overall, Hobbs has a cost of living index of 70 versus the US average of 100, meaning it is 30% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 60 | 65 | 74 | 83 | 90 | 98 | 97 | 96 | 89 | 81 | 69 | 60 |
| Low °F | 30 | 34 | 42 | 50 | 60 | 69 | 72 | 71 | 64 | 51 | 38 | 31 |
| Precip" | 0.49 | 0.40 | 0.72 | 0.47 | 1.40 | 1.27 | 1.53 | 1.38 | 1.55 | 1.18 | 0.49 | 0.50 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Hobbs, NM?
Hobbs has a cost index of 70 (100 = national average). It is 30% below the national average.
What is average rent in Hobbs, NM?
The median gross rent in Hobbs is $1,132 per month based on 2023 Census data.
What is the average home price in Hobbs?
The median home value in Hobbs is $180,700 according to Zillow and Census data.
What is the median income in Hobbs?
The median household income in Hobbs is $65,691 per year (2023 ACS 5-year estimates).
What is the sales tax in Hobbs, NM?
The combined state and local sales tax rate in Hobbs is 7.7%. The New Mexico state income tax top rate is 5.9%.
Is Hobbs, NM affordable?
Yes, Hobbs is generally considered affordable, with a cost of living index of 70 — about 30% below the US national average of 100.
What is the weather like in Hobbs?
Hobbs has average high temperatures of 80.1°F and average lows of 50.9°F. Annual precipitation is 11.4". Data from NOAA 1991–2020 Climate Normals.
Hobbs at a Glance
- Population
- 39,887
- Median Income
- $65,691
- Home Value
- $180,700
- Median Rent
- $1,132/mo
- Unemployment
- 6.6%
- Avg High Temp
- 80.1°F
- Sales Tax
- 7.7%
Nearby Cities
Explore county-level cost of living data
New Mexico Rankings
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