Hobbs, NM Housing Market
Market data powered by Zillow Research. Last updated: 2026-04-02
Hobbs, NM offers balanced conditions for buyers.
- •Prices are essentially flat (1.0% YoY) — good negotiating leverage for buyers.
- •Price-to-rent ratio: 12.2 — buying is likely more cost-effective than renting.
Median Home Value
$194,604
ZHVI
Year-over-Year
+1%
Price change
5-Year Change
-24.7%
Since 2021
Median Rent
$1,329/mo
ZORI
Active Listings
106
For sale
State Avg
$310,375
New Mexico
Home Value Trends
5-year Zillow Home Value Index for Hobbs, NM vs. state and national averages.
Rent Data
Median Rent
$1,329/mo
Rent YoY Change
+3.5%
Other Markets in New Mexico
Market data provided by Zillow Research. Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI) are trademarks of Zillow, Inc.