Hobbs, New Mexico Income Statistics
Hobbs Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
C
Hobbs Below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Hobbs | New Mexico Avg | US Average |
|---|---|---|---|
| Median Household Income | $62,635 | $64,523 | $80,455 |
| Median Personal Income | $57,544 | $52,404 | $60,758 |
| Average Yearly Income Growth | 1.0% | 4.4% | 4.8% |
| Six-Figure Earners | 10.8% | 10.2% | 13.9% |
| $200k+ Households | 9.6% | 7.8% | 13.2% |
The median household income in Hobbs is about 3% lower than in New Mexico. Income has been growing slower in Hobbs (1.0%/yr) than in New Mexico (4.4%/yr).
About 11% of adults in Hobbs earn six figures ($100,000 or more) a year, higher than the New Mexico average of 10%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Hobbs, New Mexico grew by 54.8% from 2009 to 2024, reaching $62,635 in 2024. That's an average of about 1.0% per year.
Income Inequality and the Gender Pay Gap in Hobbs
| Metric | Hobbs | New Mexico Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.610 | 0.567 | 0.552 |
| Male Median Income | $66,427 | $60,037 | $69,667 |
| Female Median Income | $44,509 | $51,390 | $56,850 |
| Gender Pay Gap | 33.0% | 14.4% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Hobbs, it is 0.610, higher than New Mexico's 0.567, so income is less evenly distributed here than there, and higher than the US's 0.552, so income is less evenly distributed here than there.
Men's income is about 49% more than women's income in Hobbs, New Mexico. Over a 35-year career, a 49% wage gap accumulates to roughly $767,130 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Hobbs, New Mexico has narrowed from about 40% to 33% in 2024. Over that period the gap was widest at 45% in 2021. In dollar terms, the gap has widened by $4,177 since 2009.
Employment
| Metric | Hobbs | New Mexico Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 7.1% | 5.9% | 5.2% |
| Working from Home | 2.6% | 12.2% | 15.0% |
| Commute time (minutes) | 12 | 18 | 22 |
Approximately 859 people are unemployed in Hobbs, New Mexico.
The average commute time in Hobbs is 12 minutes, shorter than the 18 minutes in New Mexico.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Hobbs, New Mexico has fallen from 8.4% to 7.1% in 2024. Over that period the rate peaked at 8.8% in 2012 and fell as low as 5.5% in 2014.
Conclusion
Considering all these factors, Hobbs, New Mexico has an overall wealth index grade of C, making it somewhat better than New Mexico, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Hobbs, New Mexico.
How Rich Is Hobbs, New Mexico?
Hobbs has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $62,635, about 3% lower than the New Mexico average of $64,523.
How has median household income changed in Hobbs, New Mexico?
Between 2009 and 2024, the median household income in Hobbs, New Mexico rose 55%, from $40,459 to $62,635. Over the same years, income here outpaced New Mexico as a whole: +55% against +50%.
What was the median household income in Hobbs in 2023?
In 2023, the median household income in Hobbs, New Mexico was $65,002, about the same as in 2022. The New Mexico median that year was $62,406.
What was the median household income in Hobbs in 2020?
In 2020, the median household income in Hobbs, New Mexico was $60,602. By 2024 it had risen 3% to $62,635.
What is the Gini coefficient in Hobbs, New Mexico?
The Gini coefficient in Hobbs is 0.610. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Hobbs, New Mexico?
Since 2009, the income gap between men and women in Hobbs, New Mexico has narrowed from about 40% to 33% in 2024. Over that period the gap was widest at 45% in 2021. In dollar terms, the gap has widened by $4,177 since 2009.
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