Starting at $1,345 Per Month
- 2 Beds
16 Stonecrest Ct, Hobbs, NM 88240
Summerwind Terrace Townhomes
(575) 552-8885
Frequently Asked Questions
How much does it cost to rent a townhouse in Hobbs, NM?
The median rent for a townhouse in Hobbs, NM is $1,590 per month, though prices vary by neighborhood, size, and property type. As of June 2026, single-family homes tend to be the most affordable option.
How much do you need to make to afford rent in Hobbs, NM?
To comfortably afford the median rent in Hobbs, NM, a household needs to earn roughly $63,600 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,590 per month in Hobbs, NM, renters typically need to show $4,770 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Hobbs, NM?
In Hobbs, NM, the price-to-rent ratio is 17.6, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
