Housing costs in Hobbs?
A typical home costs
$150,200, which is 55.6% less expensive than the national average of
$338,100 and 43.8% less expensive than the average New Mexico home, at
$267,100. Renting a two-bedroom unit in Hobbs costs
$1,040 per month, which is 2.0% more than the national average of
$1,020 and close to the state average of
$1,020.
Can I afford Hobbs?
To live comfortably in Hobbs (zip 88240), New Mexico, a minimum annual income of
$28,800 for a family, and
$31,600 for a single person is recommended.
What does A.I. say about Hobbs?
Living in 88240 Hobbs, NM is relatively inexpensive when compared to other parts of the US. According to BestPlaces, the cost of living index in 88240 Hobbs, NM is 56.41 which is much lower than the national average of 100. This means that groceries, transportation and other living expenses are cheaper than most places in the US. Renting a one bedroom apartment averages around $600 a month, while utility costs for electricity and water are typically less than $200 per month combined. Other everyday expenses such as gas prices and restaurant meals are also among some of the lowest in the nation at an average of $2.29 per gallon and $12 per meal respectively.