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North Hobbs CDP, NM

ZIP 88242 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 88242

Median Home Value
$218,700
Median Rent
$1,083
Affordability Snapshot
$60,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,405/mo PITI).

15%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.5x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

16.8 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 88242 in North Hobbs CDP, NM, a household would need roughly $60,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,405. That sits below the local median household income ($88,654), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
85.1%+30% vs US avg
x
Vacancy Rate
8.4%-19% vs US avg
x
Broadband Access
84.2%-3% vs US avg
x
4+ Bedrooms
4.4%-71% vs US avg
x
Built Pre-1939
2.0%-84% vs US avg
x
Built Post-2014
6.8%-2% vs US avg
x
Rent Burden >30%
31.3%-37% vs US avg
x
Mortgage-Free
48.0%+26% vs US avg
x
$218,700
Home Value
$1,083
Rent
1994
Year Built
2013
Moved In

Residents have lived here since ~2013 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached63.4%
  • 1-unit attached0.3%
  • 2-9 units5.5%
  • 10+ units0.3%
  • Mobile home & other30.4%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$218,700
Median rent$1,083
Owner-occupied85.1%
Vacant8.4%
Price-to-income2.5x
Est. income to buy$60,000