Playa Escondida

Hobbs, New Mexico
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1-3 BR

New Leaf Community

1621 E. Marland Street
Hobbs, New Mexico
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1-3 BR

Parkside Terrace

300 East White Street
Hobbs, New Mexico
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1-3 BR

Four Seasons Apartments

2405 N Jefferson St
Hobbs, New Mexico
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1-3 BR

Skyview Terrace

3600 N Skyview St
Hobbs, New Mexico
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1-3 BR
Showing Results 1-5

There are 571 low-income apartments in Hobbs that offer reduced rents to eligible households.

Rental assistance programs support 370 low-income homes in Hobbs where households pay rent based on how much they earn. For 2023, elgible households participating in federally assisted housing pay an average of $282 towards rent each month.

Affordable rent data for some communities last confirmed on June 16th, 2022. Subdsidized rents typically change once a year based on federal guidance.

Public Housing Agencies Serving 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.

Housing Authority Programs
Eastern Regional Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing
Go to the New Mexico Public Housing and Low-Income Apartments Waiting Lists page for openings near Hobbs.

Hobbs, New Mexico Affordable Housing Data

Income Based Apartments in Hobbs, New Mexico

Hobbs features 370 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 571 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 $919 and $1,123.

2023 Hobbs, New Mexico Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Hobbs, New Mexico Fair Market Rent $688 $776 $1,021 $1,319 $1,463
Hobbs, New Mexico Payment Standard Range $619 to $757 $698 to $854 $919 to $1,123 $1,187 to $1,451 $1,317 to $1,609

Sourced from federal housing data and research.

Hobbs, NM Affordable Housing Snapshot

Total Affordable Apartment Properties 14
Total Low Income Apartments 941
Total Housing Units with Rental Assistance 370
Percentage of Housing Units Occupied By Renters 34.35%
Average Renter Household Size 3.05
Average Household Size 3.10
Median Household Income $56,905 ±$3,412
Median Rent $831 ±$30
Percentage Of Renters Overburdened 32.01% ± 5.34pp
Total Population 36,191

Population and Household Demographics

Hobbs is a city in Lea County, New Mexico with a population of 36,191. There are 11,222 households in the city with an average household size of 3.10 persons. 34.35% of households in Hobbs are renters.

Income and Rent Overburden in Hobbs

The median gross income for households in Hobbs is $56,905 a year, or $4,742 a month. The median rent for the city is $831 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Hobbs, a household making less than $2,770 a month would be considered overburdened when renting an apartment at or above the median rent. 32.01% of households who rent are overburdened in Hobbs.

Area Median Income In Hobbs

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Hobbs, the AMI is calculated from all households within Lea County.

In Hobbs, HUD calculates the Area Median Income for a family of four as $65,200

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Hobbs

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Hobbs

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Hobbs AMI may qualify for rental assistance programs that target Extremely Low Income households.
$14,580 $19,720 $24,860 $30,000 $35,140 $38,950 $41,650 $44,300
50% AMI Income Limits
Renters earning up to 50% of the Hobbs AMI may qualify for rental assistance programs that target Very Low Income households.
$23,500 $26,850 $30,200 $33,550 $36,250 $38,950 $41,650 $44,300
80% AMI Income Limits
Renters earning up to 80% of the Hobbs AMI may qualify for rental assistance programs that target Low Income households.
$37,600 $43,000 $48,350 $53,700 $58,000 $62,300 $66,600 $70,900