Rent by ZIP · Lea County
Rent in Hobbs, NM 88240
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,330 (0% vs FY2026). Renters in this ZIP code pay a median $1,100 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $1,110 | $1,070 | +3.7% | $999–1,221 | $1,077 ±$168 |
| 1 bedroom | $1,120 | $1,070 | +4.7% | $1,008–1,232 | $878 ±$119 |
| 2 bedrooms | $1,330 | $1,330 | 0% | $1,197–1,463 | $1,031 ±$84 |
| 3 bedrooms | $1,670 | $1,650 | +1.2% | $1,503–1,837 | $1,235 ±$150 |
| 4 bedrooms | $1,830 | $1,840 | -0.5% | $1,647–2,013 | $1,288 ±$208 |
Small Area FMRs for the Lea County, NM. Fair Market Rents include utilities. The voucher range is the typical 90–110% band; your housing authority sets the actual payment standard.
Area-wide FMR for Lea County, NM, 2 bedrooms: $1,327.
What renters pay in 88240
How rents are spread
Share of renter households paying cash rent, by monthly gross rent (rent plus utilities).
Nearby ZIP codes
| ZIP | Place | 2-bedroom FMR | Census median, 2 bedrooms |
|---|---|---|---|
| 88242 | Hobbs | $1,660 | $1,620 |
| 88232 | Hagerman | $1,010 | $707 |
| 88231 | Eunice | $1,350 | $687 |
| 88230 | Dexter | $1,070 | $668 |
| 88252 | Jal | $1,280 | – |
| 88253 | Lake Arthur | $1,240 | – |
Fair Market Rents across Lea County, NM · All NM counties · What is Fair Market Rent?
Sources: HUD Small Area and county Fair Market Rents, FY2027 (effective October 1, 2026); U.S. Census Bureau, 2020–2024 ACS 5-year estimates. Census figures are survey estimates (±90% margin of error) and trail today's market. Place name from GeoNames. About the data.