Hobbs, NM · standard
ZIP Code 88242
Lea County, New Mexico - Census ACS demographics, housing tenure, and business patterns, benchmarked against every US ZIP.
- 6,141
- 43/sq mi Moderate-density area
- $90,000
- Median income Above-median income area
- $260,200
- Median home value Near-median home value
- 20.0%
- Bachelor's or higher Near-average bachelor's attainment
National ZIP placement
Hobbs pairs an above-median household income with above-median home values, in a rural, homeowner-dominated area.
- Top 27%
- household income, US ZIPs
- Top 40%
- home value, US ZIPs
- 43
- people per sq mi
- 84%
- owner-occupied homes
Source: U.S. Census Bureau ACS 5-Year Estimates (2019–2023). Percentiles rank ZIP 88242 against every reporting US ZIP.
FHFA HPI release change
What changed in the latest House Price Index year
- FHFA House Price Index values in ZIP 88242 (Hobbs, NM) rose +1.6% from 2023 to 2024. The all-transactions index moved from 309.7 in 2023 to 314.8 in 2024 (2000 = 100).
ZIP code 88242 is a mid-sized community (a standard USPS delivery area) in Hobbs, Lea County, New Mexico, home to 6,141 residents across 143.5 square miles, a density of 43 people per square mile, in the Denver time zone.
ZIP 88242 lands in the middle-income range, with a median household income of $90,000 (52% above the average New Mexico ZIP), while per-capita income is $39,032. The poverty rate is 10.1%, with unemployment at 5.7%; those measures add context to the income figure. Housing is both higher-cost and owner-heavy: median home value is $260,200 (21% above the average New Mexico ZIP), while 84.4% of occupied homes are owner-occupied and median rent is $1,534.
Educational attainment sits below the national norm: 20.0% of adults hold a bachelor's degree or higher, the median age is 32.5, and the average commute is 23 minutes. No nearby ZIP peer set is available for this delivery area, so the New Mexico and national benchmarks above are the appropriate context for 88242.
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 88242
Top 5 sectors by establishment count in Hobbs, NM
Which industries have the most business establishments in ZIP 88242.
- Transportation and warehousing
Transportation and warehousing
21 establishments
- Construction
Construction
17 establishments
- Mining, quarrying, and oil and gas extraction
Mining, quarrying, and oil and gas extraction
10 establishments
- Other services (except public administration)
Other services (except public administration)
10 establishments
- Retail trade 6
Retail trade
6 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 + FHFA HPI ACS demographics and median rent, ZBP business establishments, FHFA HPI for ZIP 88242, 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
6,141
Population
143.5
Area (sq mi)
43
People / sq mi
Denver
Time Zone
standard
ZIP Type
Who lives in ZIP 88242?
32.5
Median Age
51.2%
Male
48.8%
Female
16.5%
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?
$90,000
Median Household Income
+52% vs state ZIP avg
$39,032
Per Capita Income
10.1%
Poverty Rate
5.7%
Unemployment Rate
22.9 min
Mean Commute Time
How ZIP 88242 ranks among New Mexico ZIPs
Hobbs, NM household income vs. every New Mexico ZIP code
Median household income among 265 reporting New Mexico ZIPs (this ZIP's population is too small for a reliable national-corpus placement)
$90,000 Top 11% higher than 89% of 265 New Mexico ZIPs
Each bar is a $20K-wide band; taller bars hold more New Mexico 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?
Housing stock: occupied vs vacant
2,967housing units
2,967
Total Housing Units
2,742
Occupied Units
225
Vacant Units
3.07
Avg Household Size
Occupancy Type
$260,200
Median Home Value
+21% vs state ZIP avg
$1,534
Median Rent
1994
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
+1.6%
YoY Change (2024)
315
HPI Index (2000 = 100)
+215%
Total Change Since 2000
Home values in ZIP 88242 have increased 1.6% over the past year (2024). Since 2000, this ZIP has seen +215% cumulative appreciation.
| Year | Annual Change | HPI Index |
|---|---|---|
| 2020 | +3.6% | 246 |
| 2021 | +4.6% | 257 |
| 2022 | +5.5% | 272 |
| 2023 | +14.0% | 310 |
| 2024 | +1.6% | 315 |
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 85 business establishments in ZIP 88242, employing approximately 1,158 people with a combined annual payroll of $63,487,000.
85
Businesses
1,158
Employees
$63.5M
Annual Payroll
8
Industry Sectors
| Industry | Establishments | % of Total |
|---|---|---|
| Transportation and warehousing | 21 | 24.7% |
| Construction | 17 | 20.0% |
| Mining, quarrying, and oil and gas extraction | 10 | 11.8% |
| Other services (except public administration) | 10 | 11.8% |
| Retail trade | 6 | 7.1% |
| Real estate and rental and leasing | 4 | 4.7% |
| Professional, scientific, and technical services | 4 | 4.7% |
| Health care and social assistance | 4 | 4.7% |
Source: U.S. Census Bureau, ZIP Code Business Patterns (ZBP), 2023. Employment figures may include noise for disclosure avoidance.
Nationwide ZIPs with similar ACS profiles
Two Census-derived peer sets for ZIP 88242, both outside NM so the neighborhoods are not geographic containment (Nearby and same-county blocks stay local).
Similar population
Nearest cross-state ZIPs by resident population (6,141 here; floor ≥1,000).
Similar median household income
Nearest cross-state ZIPs by ACS median household income.
More ZIP Codes in Lea County
Related Areas
Frequently Asked Questions
What county is ZIP code 88242 in?
ZIP code 88242 (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 88242?
ZIP code 88242 in Hobbs, NM has a population of 6,141 according to the Census Bureau ACS 2023 estimates.
What is the median household income in ZIP 88242?
The median household income in ZIP 88242 is $90,000, which is 18% above the national average of $76,288.
What is the average home value in ZIP 88242?
The median home value in ZIP 88242 is $260,200, which is 6% below the national average of $278,155.
What is the demographic makeup of ZIP 88242?
The largest racial group in ZIP 88242 is White at 55.6%. Hispanic or Latino residents make up 57.5% of the population.
How many businesses are in ZIP code 88242?
ZIP code 88242 has 85 business establishments employing approximately 1,158 people, according to Census Bureau ZIP Code Business Patterns (ZBP) 2023 data.
What are the main industries in ZIP code 88242?
The top industries by establishment count in ZIP 88242 are: Transportation and warehousing (21), Construction (17), Mining, quarrying, and oil and gas extraction (10). There are 8 industry sectors represented in total.
How have home values changed in ZIP code 88242?
According to the FHFA House Price Index, home values in ZIP 88242 increased by 1.6% in 2024. Since 2000, home values in this ZIP have appreciated by approximately 215%. 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 88242?
In ZIP code 88242, 56.1% of residents aged 25+ have a high school diploma or higher, and 20.0% 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 88242?
The mean commute time for workers in ZIP code 88242 is 22.9 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 88242?
In ZIP code 88242, approximately 84.4% of occupied housing units are owner-occupied and 15.6% are renter-occupied, based on Census ACS 2023 data.
What is the poverty rate in ZIP code 88242?
The poverty rate in ZIP code 88242 is 10.1% according to Census Bureau ACS 2023 estimates. This measures the percentage of the population living below the federal poverty threshold.
Related
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- See how ZIP 88242 compares to a neighboring ZIP code on the same Census fields Compare this ZIP
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ZIP Code Tabulation Areas (ZCTAs) are Census Bureau approximations of USPS ZIP codes; figures describe the ZCTA area, not any single address within it.