The typical owner-occupied home in Hobbs is worth about $131,300, 40% below the Indiana median of $218,200 and 61% below the national median of $332,700. Owners pay a median $550 a year in property taxes, about 0.42% of their home's value, lower than the Indiana rate of 0.74%. 75% of occupied homes here are lived in by their owners, and 74% of those owners still have a mortgage.
Hobbs at a glance
| Hobbs | Indiana | U.S. | |
|---|---|---|---|
| Median home value | $131,300 | $218,200 | $332,700 |
| Median property tax paid per year | $550 | $1,614 | $3,119 |
| Property tax as a share of value | 0.42% | 0.74% | 0.94% |
| Median household income | – | $71,957 | $80,734 |
| Homes lived in by their owners | 75% | 71% | 65% |
| Owner homes with a mortgage | 74% | 64% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,404 | $1,963 |
| Median rent | – | $1,062 | $1,413 |
| Median year homes were built | 1970 | 1976 | 1980 |
| Vacant homes | 0.0% | 8.8% | 10.1% |
| Population | 92 | 6,851,073 | 334,922,499 |
What a typical home costs per month in Hobbs
At this week's average 30-year rate of 7.11%, buying the median Hobbs home of $131,300 with 20% down costs about $807 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,026, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $34,597 for the 20%-down payment.
| Down payment | $26,260 |
|---|---|
| Loan amount | $105,040 |
| Principal and interest | $707 |
| Property taxes (0.42% a year) | $46 |
| Homeowners insurance (our estimate, 0.5% a year) | $55 |
| PMI | $0 |
| Total per month | $807 |
Change the numbers in the calculator
| Down payment | $4,596 |
|---|---|
| Loan amount | $128,922 |
| Principal and interest | $867 |
| Property taxes (0.42% a year) | $46 |
| Homeowners insurance (our estimate, 0.5% a year) | $55 |
| FHA mortgage insurance | $58 |
| Total per month | $1,026 |
Change the numbers in the calculator
Questions about home buying in Hobbs
What is the median home value in Hobbs?
About $131,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Hobbs?
Homeowners pay a median $550 a year, which is about 0.42% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Hobbs?
For the median home with 20% down at 7.11%, the payment is about $807 a month. Keeping that under 28% of gross income takes about $34,597 a year.
More about Hobbs
- Mortgage Refinance in Hobbs
- Debt Relief in Hobbs
- Home Equity Loans in Hobbs
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data