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 classified by USPS as a standard delivery area and covers roughly 1622.2 square miles in Hobbs, Lea County, New Mexico. The area is home to 37,149 residents, producing a population density of 23 people per square mile, and falls within the Denver time zone. These USPS and Census boundary values drive every downstream statistic on this page, including the benchmarks that compare 88240 against New Mexico and the nation.
On the economic side, the median household income for ZIP 88240 sits at $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%. On housing, the median home value is $186,900 (13% below the state average) with median rent at $1,100 per month, and 67.1% of occupied units are owner-occupied, a direct signal of whether 88240 behaves more like a homeowner neighborhood or a renter-heavy ZIP.
Education and household profile round out the picture: 16.2% of adults hold a bachelor's degree or higher, the median age is 31.2, and the average commute is 24 minutes. Use the benchmarks above to see where 88240 sits relative to New Mexico and the national baseline rather than viewing the numbers in isolation. Every figure is sourced from the U.S. Census Bureau American Community Survey 5-Year Estimates, HUD Fair Market Rents, and FHFA Home Price Index data, no estimates, no proprietary scoring. Verify with HUD →
Top industries in ZIP 88240
Top 5 sectors by establishment count
Which industries have the most business establishments in ZIP 88240.
- Retail trade
Retail trade
166 establishments
- Accommodation and food services
Accommodation and food services
119 establishments
- Mining, quarrying, and oil and gas extraction
Mining, quarrying, and oil and gas extraction
116 establishments
- Health care and social assistance
Health care and social assistance
107 establishments
- Other services (except public administration)
Other services (except public administration)
85 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, American Community Survey 5-Year Estimates + ZIP Code Business Patterns + HUD FMR + FHFA HPI ACS demographics, ZBP business establishments, HUD Fair Market Rents, 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; HUD FMR + 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
Who lives in ZIP 88240?
31.2
Median Age
51.1%
Male
48.9%
Female
18.9%
Foreign-Born
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
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
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?
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
$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.
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Frequently Asked Questions
What county is ZIP code 88240 in? ▼
What is the population of ZIP code 88240? ▼
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How many businesses are in ZIP code 88240? ▼
What are the main industries in ZIP code 88240? ▼
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What percentage of residents own vs. rent in ZIP 88240? ▼
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ZIP Code Research Guides
Official Data Resources for Hobbs, NM
Verify and explore additional data for this area using these official government sources.
Read our methodology to see how this data is sourced, computed, and verified.