Affordable

What Salary Do You Need to Live in Hobbs?

To afford a 2-bedroom in Hobbs, you need to earn at least $51,440/year based on estimated fair market rent data. The median household income here is $63,804, which means the typical resident is $12,364 above the threshold.

Census ACS Data Pop. 39,782

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$900	$3,000	$36,000	$-27,804
1 Bedroom	$1,067	$3,557	$42,680	$-21,124
2 Bedroom BENCHMARK	$1,286	$4,287	$51,440	$-12,364
3 Bedroom	$1,569	$5,230	$62,760	$-1,044
4 Bedroom	$1,929	$6,430	$77,160	+$13,356

Affordability Breakdown

Where the required salary line crosses above Hobbs's median income — housing becomes unaffordable for the typical resident.

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$63,804

Annual household

2BR Required Salary

$51,440

Under 30% rule

Income Gap

+$12,364

Surplus

Verdict

Affordable

Ratio: 24.2%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in Hobbs

Your Annual Salary

Pre-filled with Hobbs's median household income

Max monthly rent you can afford$1,595

Studio

$900/mo

1 BR

$1,067/mo

2 BR

$1,286/mo

3 BR

$1,569/mo

4 BR

$1,929/mo

Your salary is $0 above the median income in Hobbs.

Salary Comparison by Bedroom

Bars left of the marker line are affordable for Hobbs's median earner. Bars to the right require above-median income.

Affordable Above Median Median Income

What This Means If You're Moving to Hobbs

Living in Hobbs is well within reach for most median-income earners. With a $12,364 cushion between what residents earn and what a 2-bedroom requires, households in Hobbs typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Hobbs, a studio at $900/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,569/month remains accessible for dual-income households earning above $62,760.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $77,160 would position you well — though many residents in Hobbs manage on less given the favorable rent-to-income dynamics.

Economic Outlook

Local Job Market & Housing Dynamics

Affording rent isn't just about housing prices—it's heavily dependent on local employment opportunities and the strength of the job market in Hobbs, New Mexico.

With a total population of 39,782, the city supports an active civilian workforce of 17,337 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $51,440 annual salary. The ratio of employed residents to the total population provides insight into the local economic health and competition for both jobs and housing.

Employed Workforce

17,337

Active civilian employees in Hobbs

Frequently Asked Questions About Renting in Hobbs

What salary do I need to live in Hobbs, New Mexico?

To afford a 2-bedroom in Hobbs under the 30% rule, you need an annual salary of at least $51,440. The median household income in Hobbs is $63,804.

Can I afford a 2-bedroom in Hobbs on $63,804?

The affordability verdict for Hobbs is "Affordable". The rent-to-income ratio is 24.2%, meaning median earners have a $12,364 surplus.

What is the average rent in Hobbs compared to median income?

The median gross rent in Hobbs is $1,067/month. With a median household income of $63,804, residents spend approximately 24.2% of their income on rent.

What salary do I need for a studio in Hobbs?

A studio in Hobbs rents for approximately $900/month. Under the 30% rule, you need an annual salary of $36,000 to afford this.

Is Hobbs considered an affordable place to live?

Based on the surplus of $12,364 and an affordability verdict of "Affordable", Hobbs is considered a affordable rental market when comparing the required 2-bedroom salary of $51,440 to the local median household income.

How Hobbs Compares

Other cities in New Mexico with salary requirements