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Real Estate Prices & Overview

Hobbs East median real estate price is $221,122, which is more expensive than 33.7% of the neighborhoods in New Mexico and 23.2% of the neighborhoods in the U.S.

The average rental price in Hobbs East is currently $1,550, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 54.0% of New Mexico neighborhoods.

Hobbs East is a suburban neighborhood (based on population density) located in Hobbs, New Mexico.

Hobbs East real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and mobile homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Hobbs East neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Hobbs East has a 11.0% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 68.0% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Hobbs, the Hobbs East neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Occupations

NeighborhoodScout's exclusive research identifies the Hobbs East neighborhood as having one of the highest concentrations of people employed in manufacturing or as laborers of any neighborhood in America. In fact, despite the loss of manufacturing jobs nationally, this neighborhood has 49.1% of its working residents employed in such fields, which is a higher proportion than 98.8% of American neighborhoods.

Furthermore, each year, fewer and fewer Americans make their living as farmers, foresters, or fishers. But the Hobbs East neighborhood truly stands out among U.S. neighborhoods. According to exclusive NeighborhoodScout analysis, this neighborhood has a greater proportion of farmers, foresters, or fishers than 96.8% of all American neighborhoods. This is truly a unique cultural characteristic of this neighborhood.

People

The Hobbs East neighborhood is unique for having just 4.1% of adults here having earned a bachelor's degree. This is a lower rate of college graduates than NeighborhoodScout found in 98.1% of America's neighborhoods.

Real Estate

The real estate in this neighborhood consists of more mobile homes than 95.3% of all neighborhoods in America, with 30.2% of the occupied housing here being classified as mobile homes. So if you are looking for a mobile home, or you like the look and feel of mobile home parks, this neighborhood might have the setting you desire.

Diversity

Did you know that the Hobbs East neighborhood has more Mexican ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 86.9% of this neighborhood's residents have Mexican ancestry.

Hobbs East is also pretty special linguistically. Significantly, 57.4% of its residents five years old and above primarily speak Spanish at home. This is a higher percentage than 95.2% of all U.S. neighborhoods.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Hobbs East neighborhood in Hobbs are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 86.7% of U.S. neighborhoods. With 19.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 68.6% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Hobbs East neighborhood, 49.1% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 27.9% of the residents employed. Other residents here are employed in executive, management, and professional occupations (12.3%), and 6.0% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Hobbs East neighborhood is Spanish, spoken by 57.4% of households. Some people also speak English (41.6%).

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Hobbs East neighborhood in Hobbs, NM, residents most commonly identify their ethnicity or ancestry as Mexican (86.9%). In addition, 29.3% of the residents of this neighborhood were born in another country.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Hobbs East neighborhood spend under 15 minutes commuting one-way to work (54.9% of working residents), one of the shortest commutes across America.

Here most residents (79.5%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (13.9%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.

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Economics & Demographics include:
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