Hobbs, NM housing market
Typical home value
$211K
▲ 3.6% 1 yr
Typical rent
$1,484/mo
▲ 9.7% 1 yr
Gross rent yield
8.4%
U.S. 6.3%
5-year home value change
−8%
U.S. +20%
Key takeaways
- 1The typical home in Hobbs is worth $211,306, up 3.6% over the past year and down 8% over five years.
- 2Typical rent is $1,484 a month (+9.7% YoY), a gross rent yield of 8.4% (below the Hobbs, NM metro's 9.0%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $1,161/mo, $323 less than typical rent.
- 4Zillow forecasts the Hobbs, NM metro's home values to change −1.2% over the next 12 months.
Market temperature (Hobbs, NM metro)
Seller's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 61/100, #34 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Hobbs compares
| Measure | Hobbs | Hobbs, NM metro | United States |
|---|---|---|---|
| Typical home value | $211,306 | $196,515 | $366,157 |
| Home value, 1-yr change | +3.6% | +3.0% | +1.2% |
| Typical rent | $1,484 | $1,469 | $1,932 |
| Rent, 1-yr change | +9.7% | +9.1% | +2.7% |
| Gross rent yield | 8.4% | 9.0% | 6.3% |
| Price-to-rent ratio | 11.9 | 11.1 | 15.8 |
| Mortgage P&I, typical home | $1,161 | $1,080 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Hobbs rental, pre-filled.
Rent vs buy in Hobbs
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $211K home.
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.