Hobbs housing market
Typical home value
$197K
▲ 3.0% 1 yr
Typical rent
$1,469/mo
▲ 9.1% 1 yr
12-month forecast
−1.2%
#526 of 546 metros
Gross rent yield
9.0%
#17 of 546 · U.S. 6.3%
Days to pending
27 days
▼ −1 day 1 yr
Listings with a price cut
17%
▼ −0.2 pts 1 yr
Key takeaways
- 1The typical home is worth $196,515, up 3.0% in a year and down 17% over five years.
- 2Zillow forecasts home values falling 1.2% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $1,469/mo (+9.1% YoY), a 9.0% gross yield, above the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $1,080/mo in principal and interest, $389 less than renting.
- 5Homes go under contract in 27 days (−1 day vs last year); 17% of listings have had a price cut.
Market temperature
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
How fast homes are selling
For saleNew listings
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Hobbs compares
| Measure | Hobbs | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +3.0% | +1.2% | #206 |
| Home value, 5-yr change | −17.2% | +19.7% | |
| 12-month forecast | −1.2% | +1.1% | #526 |
| Rent, 1-yr change | +9.1% | +2.7% | #14 |
| Gross rent yield | 9.0% | 6.3% | #17 |
| Price-to-rent ratio | 11.1 | 15.8 | |
| Mortgage P&I on typical home | $1,080 | $2,012 | |
| Days to pending | 27 | 56 |
Cities in the Hobbs metro
1 cities with home value and rent data.
| Hobbs | $211K | ▲ 3.6% | $1,484 | ▲ 9.7% | 8.4% |
Run the numbers
Rental property calculator
Cash flow on a typical Hobbs rental ($197K, $1,469/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical Hobbs home.
Rent vs buy
Is it cheaper to rent or buy in Hobbs?
Other New Mexico metros
Albuquerque, NM
$349K home$1,490 rent5.1% yield
▲ 1.5% 1 yr
Las Cruces, NM
$285K home$1,472 rent6.2% yield
▼ 0.6% 1 yr
Santa Fe, NM
$549K home$1,953 rent4.3% yield
▲ 0.8% 1 yr
Farmington, NM
$274K home$1,399 rent6.1% yield
▲ 6.8% 1 yr
Alamogordo, NM
$230K home$1,524 rent8.0% yield
▼ 1.8% 1 yr
Roswell, NM
$171K home$1,263 rent8.8% yield
▲ 0.4% 1 yr
Carlsbad, NM
$248K home$1,582 rent7.7% yield
▲ 3.1% 1 yr
Clovis, NM
$160K home$1,305 rent9.8% yield
▲ 2.4% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.