salaryRent is lower than in 59% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Most homes (85.6%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $59,120 a year. That is $28 an hour at a full-time job.
Is rent cheaper than other New Mexico cities?
No. Rent here is more expensive than in most of New Mexico. It is number 36 of 44 cities from cheapest to most expensive.
How much do households earn in North Hobbs?
Share of households by yearly income. 26.6% of households earn $100,000 or more.
Rent by apartment size in North Hobbs
| Size | North Hobbs | U.S. average |
|---|---|---|
| 2 bedrooms | $1,479 | $1,509 |
| 3 bedrooms | $1,329 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is North Hobbs overall?
Everyday prices in New Mexico overall are 8% below the U.S. average (index 92.2, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for North Hobbs, so the New Mexico figure is shown.
Taxes and bills in North Hobbs
Life in North Hobbs
Is it cheaper to rent or buy in North Hobbs?
Renting is cheaper right now: about $357 a month less.
Owning assumes a typical $264,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $26,440 for the down payment.
Frequently asked questions
What is the average rent in North Hobbs, NM?
Renting in North Hobbs costs a median of about $1,478 a month in 2026, including utilities. The New Mexico median is $1,181.
How much do I need to make to live in North Hobbs?
To keep rent under 30% of income, you need about $59,120 a year, or $28 an hour at a full-time job.
Is North Hobbs cheap or expensive?
North Hobbs is rated Cheap: rent takes 19.9% of the typical household income of $89,034. It ranks 36th cheapest of 44 New Mexico cities we track.
How much are property taxes in North Hobbs?
The median homeowner in North Hobbs pays $1,274 a year in property taxes, about 0.48% of the median home value.
Is North Hobbs more expensive than the national average?
Overall prices in New Mexico are 8% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in North Hobbs?
The median home value in North Hobbs is $264,400, about 3.0 times the typical yearly household income.
6,034 people live in North Hobbs. Numbers are typical (middle) values.