PlainZIP

Hobbs, NM · standard

ZIP Code 88240

Lea County, New Mexico - Census ACS demographics, housing tenure, and business patterns, benchmarked against every US ZIP.

37,149
23/sq mi
$63,270
Median income
$186,900
Median home value
16.2%
Bachelor's or higher

The verdict

Hobbs pairs a below-median household income with below-median home values, in a rural, homeowner-dominated area.

35th pct
household income, US ZIPs
40th pct
home value, US ZIPs
23
people per sq mi
67%
owner-occupied homes

Source: U.S. Census Bureau ACS 5-Year Estimates (2019–2023). Percentiles rank ZIP 88240 against every reporting US ZIP.

ZIP code 88240 is a densely settled ZIP (a standard USPS delivery area) in Hobbs, Lea County, New Mexico, with 37,149 residents across 1622.2 square miles, a density of 23 people per square mile, in the Denver time zone.

ZIP 88240 reports a modest median household income of $63,270 (7% above the New Mexico average), while per-capita income is $31,306. The poverty rate stands at 19.4% and the unemployment rate at 6.8%. The typical home here is valued at $186,900 (13% below the state average); renters pay a median of $1,100 monthly, and 67.1% of units are owner-occupied.

Educational attainment sits below the national norm: 16.2% of adults hold a bachelor's degree or higher, the median age is 31.2, and the average commute is 24 minutes. The state and national benchmarks above give 88240's numbers context; they should not be read in isolation.

Every figure on this page is sourced from the U.S. Census Bureau American Community Survey 5-Year Estimates (including median rent) and the FHFA House Price Index, no estimates, no proprietary scoring. Verify with Census →

Top industries in ZIP 88240

Top 5 sectors by establishment count in Hobbs, NM

Which industries have the most business establishments in ZIP 88240.

establishments

What this shows Establishment counts come from the Census ZIP Code Business Patterns program, which counts physical business locations rather than employees or revenue.

Source U.S. Census Bureau · ZIP Code Business Patterns (ZBP) As of 2023

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates + ZIP Code Business Patterns + FHFA HPI ACS demographics and median rent, ZBP business establishments, FHFA HPI for ZIP 88240, Hobbs, NM · 2023 Census ACS 5-Year Estimates use a rolling 60-month sample for stable small-geography estimates; ZBP updated annually; FHFA HPI updated quarterly/annually.

Quick Facts

37,149

Population

1622.2

Area (sq mi)

23

People / sq mi

Denver

Time Zone

standard

ZIP Type

Neighborhood Scorecard
Get an A-F grade across income, safety, housing, rent, education, commute, and childcare for this ZIP code.
View Scorecard →

Who lives in ZIP 88240?

31.2

Median Age

51.1%

Male

48.9%

Female

18.9%

Foreign-Born

White 39.1%
African American 5.2%
Asian 0.9%
American Indian or Alaska Native 0.9%
Native Hawaiian or Pacific Islander 0.0%
Two or More Ethnicities 38.8%
Hispanic or Latino 63.7%

Hispanic or Latino is an ethnicity category from the Census Bureau and may overlap with other categories above.

Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)

How much do residents earn?

$63,270

Median Household Income

+7% vs state

$31,306

Per Capita Income

19.4%

Poverty Rate

6.8%

Unemployment Rate

23.5 min

Mean Commute Time

How ZIP 88240 ranks nationally

Hobbs, NM household income vs. every US ZIP code

Median household income, the full national distribution, with this ZIP marked

$63,270 35th percentile higher than 35% of 30,318 US ZIPs

$0–$20,000: 118 US ZIPs (0%). Below this entry. $20,000–$40,000: 1,573 US ZIPs (5%). Below this entry. $40,000–$60,000: 7,092 US ZIPs (23%). Below this entry. $60,000–$80,000: 9,980 US ZIPs (33%). This entry sits in this band. $80,000–$100,000: 5,778 US ZIPs (19%). Above this entry. $100,000–$120,000: 2,855 US ZIPs (9%). Above this entry. $120,000–$140,000: 1,362 US ZIPs (4%). Above this entry. $140,000–$160,000: 686 US ZIPs (2%). Above this entry. $160,000–$180,000: 364 US ZIPs (1%). Above this entry. $180,000–$200,000: 186 US ZIPs (1%). Above this entry. $200,000–$220,000: 324 US ZIPs (1%). Above this entry. This ZIP $0 $200K+ every reporting US ZIP, bucketed by value

Each bar is a $20K-wide band; taller bars hold more US ZIPs. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.

Source U.S. Census Bureau, ACS 5-Year Estimates · 2019–2023

Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)

What is the education profile here?

High School Graduate or Higher 47.6%
Bachelor's Degree or Higher 16.2%

Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)

What does housing look like?

16,720

Total Housing Units

14,532

Occupied Units

2,188

Vacant Units

2.81

Avg Household Size

Occupancy Type

Owner 67.1%
Renter 32.9%

$186,900

Median Home Value

-13% vs state

$1,100

Median Rent

1980

Median Year Built

Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)

How have home values changed over time?

FHFA House Price Index, annual appreciation data based on repeat sales and appraisals

+6.4%

YoY Change (2024)

316

HPI Index (2000 = 100)

+216%

Total Change Since 2000

Home values in ZIP 88240 have increased 6.4% over the past year (2024). Since 2000, this ZIP has seen +216% cumulative appreciation.

Year Annual Change HPI Index
2020 +3.7% 255
2021 +5.1% 268
2022 +6.6% 285
2023 +4.2% 297
2024 +6.4% 316

Source: Federal Housing Finance Agency (FHFA) House Price Index, All-Transactions, Five-Digit ZIP Codes (Developmental Index). Index base = 100 in year 2000. Data through 2024. ZIP codes with few transactions may show missing values.

What businesses operate in this ZIP?

Census Bureau data shows 1,090 business establishments in ZIP 88240, employing approximately 16,812 people with a combined annual payroll of $1,057,122,000.

1,090

Businesses

16,812

Employees

$1.1B

Annual Payroll

17

Industry Sectors

Industry Establishments % of Total
Retail trade 166 15.2%
Accommodation and food services 119 10.9%
Mining, quarrying, and oil and gas extraction 116 10.6%
Health care and social assistance 107 9.8%
Other services (except public administration) 85 7.8%
Transportation and warehousing 83 7.6%
Construction 82 7.5%
Wholesale trade 68 6.2%
Professional, scientific, and technical services 58 5.3%
Real estate and rental and leasing 54 5.0%
Finance and insurance 49 4.5%
Administrative and support and waste management and remediation services 45 4.1%
Information 21 1.9%
Manufacturing 18 1.6%
Arts, entertainment, and recreation 9 0.8%
Utilities 4 0.4%
Educational services 3 0.3%

Source: U.S. Census Bureau, ZIP Code Business Patterns (ZBP), 2023. Employment figures may include noise for disclosure avoidance.

More ZIP Codes in Lea County

88260 standard
Lovington, NM
Pop: 14,343
88242 standard
Hobbs, NM
Pop: 6,141
88231 standard
Eunice, NM
Pop: 3,238
88252 standard
Jal, NM
Pop: 2,160
88267 standard
Tatum, NM
Pop: 1,349
88265 standard
Monument, NM
Pop: 243

Related Areas

Lea County Hobbs, NM New Mexico

Frequently Asked Questions

What county is ZIP code 88240 in? ▼
ZIP code 88240 (Hobbs) is located in Lea County, New Mexico. Lea County contains multiple ZIP codes, see the full list at /counties/lea-nm.
What is the population of ZIP code 88240? ▼
ZIP code 88240 in Hobbs, NM has a population of 37,149 according to the Census Bureau ACS 2023 estimates.
What is the median household income in ZIP 88240? ▼
The median household income in ZIP 88240 is $63,270, which is 17% below the national average of $76,288.
What is the average home value in ZIP 88240? ▼
The median home value in ZIP 88240 is $186,900, which is 33% below the national average of $278,155.
What is the demographic makeup of ZIP 88240? ▼
The largest racial group in ZIP 88240 is White at 39.1%. Hispanic or Latino residents make up 63.7% of the population.
How many businesses are in ZIP code 88240? ▼
ZIP code 88240 has 1,090 business establishments employing approximately 16,812 people, according to Census Bureau ZIP Code Business Patterns (ZBP) 2023 data.
What are the main industries in ZIP code 88240? ▼
The top industries by establishment count in ZIP 88240 are: Retail trade (166), Accommodation and food services (119), Mining, quarrying, and oil and gas extraction (116). There are 17 industry sectors represented in total.
How have home values changed in ZIP code 88240? ▼
According to the FHFA House Price Index, home values in ZIP 88240 increased by 6.4% in 2024. Since 2000, home values in this ZIP have appreciated by approximately 216%. This is a developmental index based on repeat sales and appraisal data from Fannie Mae and Freddie Mac.
What is the education level in ZIP code 88240? ▼
In ZIP code 88240, 47.6% of residents aged 25+ have a high school diploma or higher, and 16.2% hold a bachelor's degree or higher. These figures come from the Census Bureau ACS 5-Year Estimates (2023).
What is the average commute time in ZIP 88240? ▼
The mean commute time for workers in ZIP code 88240 is 23.5 minutes according to Census ACS data. The national average is roughly 26 minutes, so commuters here spend less time traveling to work than typical.
What percentage of residents own vs. rent in ZIP 88240? ▼
In ZIP code 88240, approximately 67.1% of occupied housing units are owner-occupied and 32.9% are renter-occupied, based on Census ACS 2023 data.
What is the poverty rate in ZIP code 88240? ▼
The poverty rate in ZIP code 88240 is 19.4% according to Census Bureau ACS 2023 estimates. This measures the percentage of the population living below the federal poverty threshold.

Read our methodology to see how this data is sourced, computed, and verified.