Cost of Living in Hobbs, NM
Housing
The housing market plays a significant role in determining the cost of living in Hobbs, NM.
- Housing Index: 93.8 / 100
- Median Home Price is: $265,000
- Average Rent (2 BR Apartment): $1237 per month
- Average Rent (2 BR House): $1344 per month
Considering relocating to Hobbs, NM? The housing index of 93.8 indicates that the market here is relatively affordable compared to the national average. With a median home price of 265000, purchasing a home is feasible for many families, while average rents of 1237 for a 2BR apartment and 1344 for a house suggest reasonable options for renters. While affordability is appealing, it’s also essential to factor in aspects like job opportunities and local amenities to support a well-rounded lifestyle.Hobbs presents a promising housing situation worth consideration.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Hobbs, NM.
- Electricity Price: $14.44 USD (median by state)
- Natural Gas Price: Data is updating (median by state)
- Other Utilities (water, garbage, etc.): $212 per month
Living in Hobbs, NM could entail higher utility costs. Electricity costs sit at $14.44, while natural gas is priced at data unavailable per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $212 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Hobbs is a financially viable option for your relocation.