Hobbs, NM
Population 39,887 · New Mexico
About Hobbs, NM
Hobbs is a mid-sized city located in New Mexico with a population of 39,887 residents according to the latest US Census Bureau American Community Survey data. The median household income is $65,691 per year, which is 13% below the national median of $75,149. The median age of 31.7 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Hobbs features a median home value of $180,700, which is 26% below the national median of $244,900. This positions Hobbs in a moderately priced market relative to the rest of the country. Median monthly rent is $1,132, 3% below the national average of $1,163/month. Of the 15,687 total housing units, 63% are owner-occupied (8,844 units) and 37% are renter-occupied (5,233 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Hobbs shows an unemployment rate of 6.6%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 20.5%, above the national average of 12.4%. Workers in Hobbs have an average one-way commute time of 24.9 minutes.
Education & Demographics
16.6% of Hobbs residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 53.7% White, 2.0% Hispanic or Latino, 0.4% Black or African American, and 7.3% Asian residents, with 17.3% of the population being foreign-born.
How Hobbs Ranks in New Mexico
Cost of Living in Hobbs, NM
Compared to national averages, Hobbs has a median household income of $65,691 (13% below the national median of $75,149). Home values average $180,700, which is 26% below the national median. Monthly rent at $1,132 is 3% below the US average of $1,163. Within New Mexico, Hobbs's income is 3% below the state average of $67,435, and home values are 23% below the state median of $233,762.
Why Live in Hobbs, NM?
Hobbs offers affordable housing with a median home value of $180,700, below the US average of $244,900, and rent that’s lower than the national average at $1,132/month, and short commute times averaging just 24.9 minutes.
Potential considerations include median household income ($65,691) that falls below the national average. However, Hobbs’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Hobbs has a population of 39,887 with a median age of 31.7 years. Compare Hobbs with other cities to see how it stacks up, or explore all cities in New Mexico.
Similar Cities Near Hobbs
Cities in New Mexico with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Clovis | 38,153 | $54,029 | $160,000 | Compare |
| South Valley | 36,605 | $51,062 | $205,200 | Compare |
| Farmington | 46,339 | $63,745 | $225,400 | Compare |
| Roswell | 47,823 | $50,294 | $139,200 | Compare |
| Carlsbad | 31,813 | $78,277 | $187,900 | Compare |
| Alamogordo | 31,063 | $52,515 | $163,600 | Compare |
| Gallup | 21,333 | $57,466 | $134,600 | Compare |
| Los Lunas | 17,932 | $63,696 | $232,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Mexico
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Hobbs With Other Cities
Frequently Asked Questions about Hobbs
What is the population of Hobbs, NM?
The population of Hobbs, NM is 39,887 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in New Mexico.
What is the median household income in Hobbs?
The median household income in Hobbs, NM is $65,691 per year, which is 13% below the national median of $75,149.
What is the median home value in Hobbs?
The median home value in Hobbs, NM is $180,700, which is 26% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Hobbs?
The median monthly rent in Hobbs, NM is $1,132, which is 3% below the national average of $1,163/month.
What is the unemployment rate in Hobbs?
The unemployment rate in Hobbs, NM is 6.6%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Hobbs, NM a good place to live?
Hobbs offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 39,887 and a median age of 31.7, the city appeals to young professionals and families.
How educated is Hobbs, NM?
16.6% of residents in Hobbs aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Hobbs?
Key cost-of-living indicators for Hobbs, NM: median home value is $180,700 (26% below national), median rent is $1,132/month, and median household income is $65,691. The home-value-to-income ratio is 2.8x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Hobbs?
The poverty rate in Hobbs, NM is 20.5%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Hobbs, NM?
Hobbs's population is 53.7% White, 2.0% Hispanic or Latino, 0.4% Black or African American, 7.3% Asian, and 5.2% two or more races. 17.3% of residents are foreign-born.