North Hobbs, NM Cost Of Living
Cost Of Living In North Hobbs, NM Summary
Cost of living in North Hobbs research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means North Hobbs is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in New Mexico, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in North Hobbs is 99, with 100 being the average.
The cost of living index in North Hobbs is 1.0x lower than the national average.
North Hobbs ranks as the #34 cheapest in New Mexico out of 45.
North Hobbs ranks as the #2,497 cheapest out of 6,489 in the US.
The median home value in North Hobbs is $313,158.
The median income in North Hobbs is $89,279.
Table Of Contents
North Hobbs's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in North Hobbs, NM?
According to the most recent data on the cost of living, North Hobbs has an overall cost of living index of 99, which is 1.0x lower than the national index of 100.
Compared to New Mexico, North Hobbs has a cost of living index that's 1.0x higher than New Mexico's index of 95.
The standard of living in North Hobbs ranks as #34 most affordable out of the 45 places we measured in New Mexico. By definition, that implies North Hobbs ranks as the #11 most expensive place in the Land of Enchantment.
For more reading on life in North Hobbs, check out:
In New Mexico
In America
North Hobbs Cost Of Living Vs. New Mexico
Six factors go into calculating the cost of living index in North Hobbs. Here is how it fairs on each of the criteria:
The Services index in North Hobbs is 99.
The Groceries index in North Hobbs is 99.
The Health index in North Hobbs is 95.
The Housing index in North Hobbs is 99.
The Transportation index in North Hobbs is 94.
The Utilities index in North Hobbs is 98.
| Living Expense | North Hobbs | New Mexico | National Average | |
|---|---|---|---|---|
| Overall | 99 | 95 | 100 | |
| Services | 99 | 96 | 100 | |
| Groceries | 99 | 96 | 100 | |
| Health | 95 | 95 | 100 | |
| Housing | 99 | 87 | 100 | |
| Transportation | 94 | 93 | 100 | |
| Utilities | 98 | 89 | 100 | |
North Hobbs, NM Housing Cost Breakdown
Housing swings affordability the most between places in New Mexico, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in North Hobbs is $313,158.
The Median Rent in North Hobbs is $1,109.
The Median Income in North Hobbs is $89,279.
The Home Value To Income in North Hobbs is 3.5x.
The Rent To Monthly Income in North Hobbs is 0.15x.
| Statistic | North Hobbs | New Mexico | United States |
|---|---|---|---|
| Median Home Value | $313,158 | $311,815 | $303,400 |
| Median Rent | $1,109 | $1,021 | $1,348 |
| Median Income | $89,279 | $62,125 | $78,538 |
| Home Value To Income | 3.5x | 5.0x | 3.9x |
| Rent To Monthly Income | 0.15x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
North Hobbs, NM Costs By Category
Detailed North Hobbs Services Costs Vs. New Mexico
| Item | North Hobbs | New Mexico |
|---|---|---|
| Shampoo | $1.15 | $1.28 |
| Movie | $11.7 | $12.13 |
| Bowling | $17.73 | $18 |
| Haircut | $27.73 | $24.26 |
| Beauty Salon | $70.27 | $45.56 |
Detailed North Hobbs Groceries Costs Vs. New Mexico
| Item | North Hobbs | New Mexico |
|---|---|---|
| Ground Beef | $5.5 | $5.84 |
| Fried Chicken | $1.67 | $1.57 |
| Milk | $4.58 | $4.67 |
| Potatoes | $4.86 | $4.93 |
| Pizza | $11.64 | $12.09 |
| Beer | $10.47 | $10.41 |
| Toothpaste | $3.61 | $3.7 |
Detailed North Hobbs Health Costs Vs. New Mexico
| Item | North Hobbs | New Mexico |
|---|---|---|
| Optometrist | $134.65 | $125.68 |
| Doctor | $146.52 | $135.78 |
| Dentist | $122.61 | $113.29 |
Detailed North Hobbs Transportation Costs Vs. New Mexico
| Item | North Hobbs | New Mexico |
|---|---|---|
| Gasoline | $3.06 | $3.46 |
| Tire Balancing | $61.55 | $59.92 |
Detailed North Hobbs Utilities Costs Vs. New Mexico
| Item | North Hobbs | New Mexico |
|---|---|---|
| All Electricity | $137.32 | $193.99 |
| Phone | $207.58 | $192.25 |
North Hobbs SnackAbility
/10
Cost Of Living In Cities Around North Hobbs
The cost of living varies in the cities and towns around North Hobbs. Here's a quick look at the cost of living in the most populous nearby places:
Hobbs, NM has a cost of living index of 91, 0.9x North Hobbs.
Andrews, TX has a cost of living index of 97, 1.0x North Hobbs.
Lovington, NM has a cost of living index of 89, 0.9x North Hobbs.
| City | Population | Cost Of Living | Vs. North Hobbs |
|---|---|---|---|
| Hobbs, NM | 39,887 | 91 | 0.9x |
| Andrews, TX | 13,416 | 97 | 1.0x |
| Lovington, NM | 11,444 | 89 | 0.9x |
| Seminole, TX | 7,097 | 92 | 0.9x |
