ZIP 88240 · Hobbs, New Mexico
2026 Edition · 8 cards · data as of Oct 30, 2026
Read it as a page
-
Population
41,557 people call ZIP 88240 home.
41,557
people.
Census ACS 5-year, 2020-2024. Sources: Census ACS 5-year
-
Rent
Median rent is up 32% since the 2010–2014 survey, before inflation.
$1,100
a month. New Mexico's median is $1,067.
Census ACS 5-year, 2020-2024 (latest), with earlier 5-year windows. Sources: Census ACS 5-year
-
Room to build
Local wages can carry more rent than the median charged today.
$1,108–$1,662
is the monthly rent range local workforce wages support.
- $1,100 median
Supportable rent computed by the Almanac from 2023 source wage data. Median rent: Census ACS 5-year, 2020-2024. Sources: Computed by the Almanac, Census ACS 5-year
-
Building
74% of the housing here was built before 2000.
- 74% of all homes were built before 2000
Census ACS 5-year, 2020-2024. Sources: Census ACS 5-year
-
Units needed
Closing the gap would add 0.3–1.4% to the 16,720 homes here.
57–238
is the estimated number of missing housing units, from the lowest to the highest of three estimates.
Range computed by the Almanac from 2023 jobs and household data, using three demand models: 1% of jobs located here, 1% of renter households, and a rate by town size applied to renters. The low end is the lowest of the three and the high end the highest. It is an estimate, not a count. Sources: Computed by the Almanac
-
Home value
A median home costs 25% less than New Mexico's.
$186,900
median home value in ZIP 88240.
- $186,900 ZIP 88240
- $248,100 New Mexico
- $332,700 U.S.
Census ACS 5-year, 2020-2024. Sources: Census ACS 5-year