88242
Hobbs, New Mexico.
Hobbs, Lea County, NM · Hobbs, NM metro · population 8,472
to buy the typical home at today's mortgage rate — +$574 (+61%) since Jan 2020.
- 1 year
- Up $17,175 +6%
- $271,182$288,357 since Sep 2025
- 5 years
- Up $18,197 +7%
- $270,160$288,357 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- 88242$1,514
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 53 years.
Typical home values in zip 88242 rose 6.3% over the past year — faster than the nation's +1.2%.
Zillow also publishes an index for the city itself: Hobbs, NM — measured over the city limits, which is a different area from this zip.
Typical home value — 88242
Mid-tier homes, smoothed and seasonally adjusted.
- 88242$288,357
- Hobbs$196,515
- United States$366,157
Within 20 miles
| Miles sorted ascending, activate to sort descending | Zip activate to sort by Zip | City activate to sort by City | Population activate to sort by Population | Rent activate to sort by Rent | Home value activate to sort by Home value |
|---|---|---|---|---|---|
| 17.7 | 79323 | Denver City | 7,485 | — | $186,235 |
| 18.1 | 88260 | Lovington | 15,160 | — | $186,342 |
| 18.8 | 88240 | Hobbs | 41,557 | $1,460 | $195,988 |
Coordinates and population from SimpleMaps US Zips (Basic). Rent and home values from Zillow Research.