Rent by ZIP · Lea County
Rent in Hobbs, NM 88242
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $1,660 (+9.9% vs FY2026). Renters in this ZIP code pay a median $1,534 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $1,390 | $1,210 | +14.9% | $1,251–1,529 | – |
| 1 bedroom | $1,400 | $1,220 | +14.8% | $1,260–1,540 | – |
| 2 bedrooms | $1,660 | $1,510 | +9.9% | $1,494–1,826 | $1,620 ±$511 |
| 3 bedrooms | $2,090 | $1,870 | +11.8% | $1,881–2,299 | $1,500 ±$222 |
| 4 bedrooms | $2,280 | $2,090 | +9.1% | $2,052–2,508 | – |
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 88242
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 |
|---|---|---|---|
| 88240 | Hobbs | $1,330 | $1,031 |
| 88232 | Hagerman | $1,010 | $707 |
| 88252 | Jal | $1,280 | – |
| 88231 | Eunice | $1,350 | $687 |
| 88253 | Lake Arthur | $1,240 | – |
| 88230 | Dexter | $1,070 | $668 |
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.