Cost of Living: Hobbs, NM vs Farmington, NM
Quick rent-and-take-home comparison
Using a baseline of $70,000/yr gross, take-home is about $4,230/mo in Hobbs, NM versus $4,230/mo in Farmington, NM. In the model, rent is about 16.49% of gross in Hobbs, NM versus 14.47% in Farmington, NM, so Farmington, NM tends to feel more affordable for rent.
Compare cost of living, rent, housing prices, and salary affordability between Hobbs, NM and Farmington, NM.
At a glance
- Cheaper overall (lower cost-of-living index): Farmington, NM
- Lower rent (median 1BR/2BR): Farmington, NM
- Lower home prices: Hobbs, NM
- Higher median household income: Hobbs, NM
Cost of Living Index
Hobbs, NM: 100 (U.S. = 100) · Farmington, NM: 100 (U.S. = 100)
Both cities have the same cost-of-living index (U.S. average = 100).
Median Rent
Hobbs, NM: $1,076/mo (midpoint of 1BR/2BR) · Farmington, NM: $944/mo
Median rent in Hobbs, NM is $132/mo higher than in Farmington, NM.
Median Home Price
Hobbs, NM: $180,700 · Farmington, NM: $225,400
Median home price in Farmington, NM is $44,700 higher than in Hobbs, NM.
Median Household Income
Hobbs, NM: $65,691 · Farmington, NM: $63,745
Hobbs, NM has a higher median household income than Farmington, NM by $1,946.
Hobbs, NM overview · Farmington, NM overview · Popular comparisons