Low Income Apartments and Affordable Housing For Rent in Hobbs, NM

Discover affordable housing in Hobbs where there are 14+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Washington Place Apartments

1405 E Marland St, Hobbs, New Mexico 88240

The Cedars Apartments

501 W Alto Dr, Hobbs, New Mexico 88240

Willow Bend Villas

1000 N. Marland Blvd., Hobbs, New Mexico 88240

Hobbs Apartments

2001 E Clinton St, Hobbs, New Mexico 88240

Playa Escondida

Yeso/Jefferson, Hobbs, New Mexico 88240

New Leaf Community

1621 E. Marland Street, Hobbs, New Mexico 88240

Parkside Terrace

300 East White Street, Hobbs, New Mexico 88240

Four Seasons Apartments

2405 N Jefferson St, Hobbs, New Mexico 88240

Skyview Terrace

3600 N Skyview St, Hobbs, New Mexico 88240

Casa Hermosa

920 E Michigan Dr, Hobbs, New Mexico 88240

Broadway Apartments

1200 E Broadway St, Hobbs, New Mexico 88240

Sunrise Homes

1515 E Scharbauer St, Hobbs, New Mexico 88240

Broadway Place

1122 E Broadway St, Hobbs, New Mexico 88240

1421 E Scharbauer

1421 E Scharbauer St, Hobbs, New Mexico 88240

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Hobbs, New Mexico
$22.12/hour
$10.12 (+84%) more than New Mexico minimum wage and $14.87 (+205%) more than the Federal minimum wage.
Learn More About Hobbs, New Mexico Affordable Housing ↓

What HUD offices serve Hobbs, New Mexico?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Hobbs, New Mexico.

Go to the New Mexico Public Housing and Low-Income Apartments Waiting Lists page for openings near Hobbs.

How many renters live in Hobbs, New Mexico?

The City of Hobbs has 39,782 people living in 13,533 households.

There are 14,497 renters living in 5,219 renter households in this City. Renters make up 36.44 percent of the population living in Hobbs.

What is the rental market like in Hobbs, New Mexico?

There are an estimated 15,280 housing units in the Hobbs area. Of these, 5,794 units are rental homes, making up 38 percent of the housing market. For every renter household in Hobbs, New Mexico, there are 1 rental units.

What is the vacancy rate for rentals in Hobbs?

The rental vacancy rate in Hobbs is 9 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Hobbs for each bedroom size?

Occupied Rental Units by Size in Hobbs
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
208 547 2,363 1,843 198
Occupied Rental Units by Size in Hobbs

A large number of apartments in Hobbs have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Hobbs are overburdened by housing costs?

Among renter households in this market, 37 percent have housing cost burden. Further, 20 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Hobbs

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $801 to $1,642. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $801
One BR $889
Two BR $1,168
Three BR $1,487
Four BR $1,642
2024 Fair Market Rents in Hobbs, New Mexico

How many units are rented at Fair Market Rent (FMR) in Hobbs?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 125 60 percent
One BR 285 52 percent
Two BR 1,261 53 percent
Rental Units Below FMR in Hobbs, New Mexico

How many affordable rental units are in Hobbs?

There are a variety of federal affordable housing programs serving households in Hobbs, New Mexico including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 315
Section 8 Project-Based Rental Assistance 370
Section 811 Supportive Housing for Persons with Disabilities 1
Tracked Units by Federal Program in Hobbs, New Mexico

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Hobbs, New Mexico

Hobbs features 300 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Hobbs, New Mexico

There are 386 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Hobbs.

Housing Choice Vouchers in Hobbs, New Mexico

On average, Section 8 Housing Choice vouchers pay Hobbs landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Hobbs.

The maximum amount a voucher would pay on behalf of a low-income tenant in Hobbs, New Mexico for a two-bedroom apartment is between $1,051 and $1,285.

Sourced from federal housing data and AffordableHousingOnline.com research.