ZIP 88242 · Hobbs, New Mexico
2026 Edition · 8 cards · data as of Oct 30, 2026
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Population
8,472 people call ZIP 88242 home.
8,472
people.
Census ACS 5-year, 2020-2024. Sources: Census ACS 5-year
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Rent
Median rent is up 79% since the 2010–2014 survey, before inflation.
$1,534
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
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Room to build
The median rent sits inside what local wages can carry.
$1,172–$1,758
is the monthly rent range local workforce wages support.
- $1,534 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
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Building
55% of the housing here was built before 2000.
- 55% of all homes were built before 2000
Census ACS 5-year, 2020-2024. Sources: Census ACS 5-year
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Units needed
Closing the gap would add 0.2–0.3% to the 2,967 homes here.
5–9
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
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Home value
A median home costs 5% more than New Mexico's.
$260,200
median home value in ZIP 88242.
- $260,200 ZIP 88242
- $248,100 New Mexico
- $332,700 U.S.
Census ACS 5-year, 2020-2024. Sources: Census ACS 5-year