Rents are 4% above what Hobbs's 10-year trend predicts — running hotter than its own history.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,484 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Hobbs is at its highest level since Zillow's records here began in April 2023.
Rent in Hobbs changed +9.9% over the year to September 2026. Across the 12 New Mexico cities Zillow tracks, the typical change was +4.1%.
Rent has risen 3 months in a row, and rose in 8 of the last 12 months.
30% of the median household income ($64,021) is $1,601 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($1,410); a 4-bedroom is $1,610.
From Zillow's monthly rent index (ZORI) for Hobbs. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Hobbs, NM is majority owner-occupied, has a large share of families with children, has a median income below the national average, 17.3% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Hobbs, NM has changed in 5 years
Rent in Hobbs, NM has increased 27.4% since 2023, going from about $1,165 per month to roughly $1,484 today. Census figures show median household income at $64,021 today, compared with $59,232 five years earlier. Rent outpaced income growth by roughly 19.3 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 39,476 to 40,252 between 2021 and 2024, a 2.0% change. About 34% of households rent today, against 39% in 2021. The combined trend lines point to a market that has changed measurably from where it stood in early 2023.
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Can you afford rent in Hobbs on your salary?
At $1,484/mo, how Hobbs rent compares to typical pay (30% rule).
Hobbs rent by bedroom count
Median rent for each apartment size in Hobbs. Click any size for full breakdown.
Tips for renters in Hobbs
Last updated: October 17, 2026
The median rent in Hobbs is $1,484/mo as of October 2026. A studio apartment averages $810/mo while a 2-bedroom runs $1,140/mo. One-bedroom apartments average $870/mo and 3-bedroom units go for $1,410/mo.
At 28% of local median household income ($64,021/yr), Hobbs ranks as affordable compared to the national benchmark of 30%. Rents have increased 9.9% over the past year.
Frequently asked questions
How much income do you need to rent in Hobbs?
Is rent going up or down in Hobbs?
How does Hobbs rent compare to other cities in New Mexico?
At $1,484/mo, rent takes ~28% of Hobbs's median household income ($64,021/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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