Rent to own Homes in Hobbs, NM
Hobbs is a fast-growing community of 34,000 people in Lea County, New Mexico. Home to Zia Park, the town regularly plays host to thoroughbred and quarter horse racing. It also features an eclectic mix of restaurants and cuisines, from steaks and barbecue to Mexican seafood, Chinese noodles and sushi buffets. Hobbs' residents enjoy sports, dining, and many fun hobbies.
Hobbs, NM is a great place for affordable rent-to-own homes! With a median household income of over $57,646 and a median rent of $923, the Hobbs, NM rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Hobbs, NM. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
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Hobbs, NM is seeing rapid growth and Hobbs, NM's' housing market remains optimal with an average home price that is -34% below the 2024 national average. Hobbs, NM is part of Lea county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Lea is 0.44% which is below the national average, which is 0.99%.
Median Home Price in Hobbs, NM
Median Rent in Hobbs, NM
Top 5 Reasons to Live in Hobbs, New Mexico!
Affordable Housing! The average home price in Hobbs is just under $200,000, making this a great town to invest in. Not only can you find a great house to buy in Hobbs for relatively low cost, but the value of your home is set to rise in the upcoming years. Of course, to find a great home price in this town, you need to know where to look. Check out East Mesa and North Braniff Streets for deals.
Soaring Society of America Headquarters! Not familiar with the Soaring Society? There's no better time than now to learn! The Society is dedicated to the education and practice of flying sailplanes. These small aircraft, also known as gliders, are hobbycraft with rigid wings and an undercarriage. Check out the Society at Jack Gomez Blvd & Ave. A to see what it has to offer, and take a glide at the Hobbs Industrial Airpark.
Great Rent to Own Options! If you are ready to get out of the rental game, but aren't quite ready to shoulder a mortgage, Hobbs has plenty of rent to own properties available to choose from. Most listings are 2 to 4 bedrooms in size, with several available near shopping centers like the Walmart Supercenter and Stripes. Nearly every property comes with a wide expanse of lawn, so get ready to host some barbecues once you've moved in!
Diverse Jobs for Residents! Have you ever wanted to work for the local government? Not as a politician, but as a city employee? If so, Hobbs has all kinds of city jobs available for your perusal. Choose from a wide range of job listings, including Horticulturist, Parks Construction Worker, Equipment Operator, Accounting Clerk, Grant Writer, Electrical Inspector and Utilities Maintenance Worker. Want to know more about your options? Drop by the Human Resources Department at City Hall, located at 200 East Broadway Street. Applications to work with the Hobbs Police Department, or Hobbs Fire Department can be made at the same location.