Rentometer, Inc. | Data as of 10/22/2025
Hobbs, New Mexico offers a dynamic rental market that reflects the city’s blend of historic charm and modern growth. Prospective renters can choose from a variety of housing types, including spacious single‑family homes and contemporary apartment communities. One‑bedroom options typically fall in the $1200‑$1300 bracket, while larger three‑bedroom homes move into the $2,200‑$2,300 range, providing flexibility for individuals, couples, and families alike. The market accommodates a spectrum of budgets, with both newer developments near downtown and more established neighborhoods offering diverse amenities, from on‑site fitness centers to pet‑friendly policies.
Beyond its housing inventory, Hobbs is celebrated for its vibrant community life and convenient location. The revitalized Main Street corridor features local boutiques, eateries, and cultural venues such as the Hobbs Museum of Art and the historic Lea County Coliseum, which hosts sports events and concerts. Outdoor enthusiasts enjoy nearby parks and the scenic plains that surround the city, while easy access to I‑40 connects residents to regional attractions like the Carlsbad Caverns. Whether you’re drawn by the oil‑industry heritage, the growing arts scene, or the welcoming neighborhoods of Oak Valley and Canyon View, Hobbs provides a well‑rounded rental experience that balances affordability with quality of life.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | 1 Bedroom | $1,255 | $1,350 | $535 - $1,587 | $1,125 - $1,450 |
| Apartment | 2 Bedroom | $1,724 | $1,610 | $1,224 - $2,261 | $1,575 - $2,012 |
| Apartment | 3 Bedroom | $1,968 | $1,995 | $1,411 - $2,358 | $1,695 - $2,248 |
| House | 1 Bedroom | $866 | $900 | $800 - $900 | $800 - $900 |
| House | 2 Bedroom | $1,285 | $1,100 | $950 - $2,000 | $950 - $1,800 |
| House | 3 Bedroom | $2,261 | $2,175 | $1,600 - $4,000 | $1,750 - $2,500 |
| House | 4+ Bedroom | $2,112 | $2,125 | $1,700 - $2,500 | $2,000 - $2,500 |
In the current period, the average rent in Hobbs was $1,158 for 1 Bedroom, $1,562 for 2 Bedroom, $2,191 for 3 Bedroom, and $2,067 for 4+ Bedroom.
Data provided by Rentometer, Inc.