| ZIP Code | 88240 |
|---|---|
| City | Hobbs |
| State | New Mexico (NM) |
| County | Lea County |
| Area Code | 432/575 |
| Elevation | 3,727 ft |
| Latitude | 32.674675 |
|---|---|
| Longitude | -103.446805 |
| Timezone | Denver (DST) |
| FIPS | 35025 |
| ZIP Type | Standard |
| Status | Active |
Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 30.1 yrs ↓ 2% since 2019 |
|---|---|
| Avg Household Size | 2.79 |
| Below Poverty | 19.4% ▲ 94% above avg |
| College Grads | 29.5% ▼ 24% below avg |
| Unemployment | 6.7% ▲ 38% above avg |
| No HS Diploma | 1,043 (5.3%) |
| HS Graduate | 6,748 (34.6%) |
| Some College | 3,189 (16.4%) |
| Associates | 2,762 (14.2%) |
| Bachelors | 1,841 (9.4%) |
| Graduate Degree | 3,917 (20.1%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $65,394 ▼ 14% below avg ↑ 11% since 2019 |
|---|---|
| Median Home Value | $177,200 ▼ 36% below avg ↑ 29% since 2019 |
| Home/Income Ratio | 2.7x (nat avg ~3.5x) |
| Median Rent | $1,124/mo ↑ 26% since 2019 |
| Total Units | 16,490 |
| Vacant Units | 1,853 |
| Avg HH Size | 2.79 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Summary
| Total Units | 16,490 |
|---|---|
| Vacant | 1,853 |
| Owner Occupied | 64.6% |
| Renter Occupied | 35.4% |
| Avg HH Size | 2.79 |
ZIP code 88240 is located in Hobbs, New Mexico, within Lea County. With a population of 41,612, this is a highly populated ZIP code with a relatively young community — the median age is 30.1 years. Economically, 88240 is a solidly middle-class ZIP code: the median household income of $65,394 is near the national average.
Real estate in ZIP code 88240 represents an affordable housing market. The median home value of $177,200 is below the national average. Renters can expect to pay around $1,124 per month in median rent. Homeownership is strong here — 64.6% of occupied units are owner-occupied, suggesting an established, stable residential community. Median home values have increased by 29% since 2019.
The population of 88240 is majority Hispanic (62.70%). Residents are moderately educated — 29.5% hold a bachelor's degree or higher, which is below the national average. Poverty affects some residents at 19.4%. Household income has grown by 11% since 2019.
The unemployment rate in 88240 stands at 6.7%, which is above the national average. As in most parts of the country, driving alone is the dominant commute mode at 78%.
Overall, ZIP code 88240 in Hobbs, NM is characterized as solidly middle-class, moderately educated, a relatively young community, and predominantly owner-occupied. With 41,612 residents, a median household income of $65,394, and a median home value of $177,200, it offers a clear picture of life in this part of New Mexico.