1st Advantage MortgageIn Lea County, New Mexico, the typical household earns $68,015 a year and the typical rent is $1,101. Those figures describe the county, not you: compare at least three written offers by APR and total cost, and confirm the lender's license before you apply.
On this page
- Getting oriented in Lea County
- How Lea County residents earn a living
- Paychecks and income spread in Lea County
- Renting and owning in Lea County
- Places inside Lea County
- Neighboring counties at a glance
- More Lea County figures
- Borrowing situations common in Lea County
- A Lea County household budget, worked through
- Checking a lender's license in New Mexico
- Steps before you apply in Lea County
- Nearby and statewide guides
- Frequently asked questions
Getting oriented in Lea County
With an estimated 73,733 residents (ACS 2020 to 2024), Lea County ranks 7th of 33 in New Mexico for population. Spread over 4,392 square miles, that works out to roughly 16.8 residents per square mile. It sits outside every metropolitan statistical area in the July 2023 OMB delineation. Of the 8 Census places inside Lea County, Hobbs leads by population with about 40,252; 5 of the 8 are incorporated.
How Lea County residents earn a living
By the Census industry count, 19% of employed Lea County residents work in education and health care and 16% in agriculture, forestry and mining. Agriculture, forestry and mining stands out: 16% of workers here, versus 4% statewide. Averaged over the five survey years, 6.9% of the labor force was out of work and looking. Long commutes are common here: 17% of workers spend 45 minutes or longer getting to work. 4.3% of households have no vehicle.
| Industry | Share of Lea County workers | vs New Mexico |
|---|---|---|
| Education and health care | 18.7% | -7.0 pts |
| Agriculture, forestry and mining | 15.9% | +12.3 pts |
| Transportation, warehousing and utilities | 11.7% | +6.7 pts |
| Construction | 9.7% | +2.1 pts |
| Retail trade | 9.6% | -1.1 pts |
| Arts, lodging and food service | 7.8% | -2.2 pts |
Where long drives are the norm, a car repair is one of the most common surprise bills. A small repair fund can keep a breakdown from turning into a loan.
Paychecks and income spread in Lea County
The median household income in Lea County is $68,015; statewide it is $64,059, so Lea County runs 6% above New Mexico as a whole.
| Income band | Share in Lea County | Difference from New Mexico |
|---|---|---|
| Under $35,000 | 29.9% | +1.3 pts |
| $35,000 to $99,999 | 37.2% | -3.3 pts |
| $100,000 to $199,999 | 23.8% | +0.8 pts |
| $200,000 or more | 9.1% | +1.3 pts |
Some 30% of households here live on less than $35,000 a year; 33% have six-figure incomes. 18.7% of residents fall below the federal poverty line (statewide: 17.8%). Income inequality, measured by the Gini index, comes to 0.489 here. If your income is irregular, as it often is with tips, gig work or seasonal jobs, plan around your leaner months rather than the Lea County median.
Renting and owning in Lea County
Renters in Lea County pay a median of $1,101 a month, 3% above the New Mexico figure of $1,067. 48% of renting households spend 30% or more of income on rent, and 25% spend half or more. With a median value of $184,000, a typical Lea County house costs 2.7 times what the median household earns in a year. Owners occupy 71% of homes. Half the housing stock was built before 1979.
| Home costs | Lea County | New Mexico | U.S. middle county |
|---|---|---|---|
| Median gross rent | $1,101/mo | $1,067/mo | $877/mo |
| Median home value | $184,000 | $248,100 | $185,300 |
| Owners | 71% | 70% | 75% |
| Rent-burdened renters | 48% | 50% | 45% |
| Burdened owners | 26% | 29% | n/a |
| Vacant units | 13% | 12% | n/a |
Places inside Lea County
Here are the 8 most populous of the county's 8 Census places, with income and rent from the same 2020 to 2024 survey. About 87% of Lea County residents live in one of the 8. Among places of 500 or more people, median income runs from $49,087 in Eunice to $82,554 in North Hobbs. Median rent ranges from $721 in Eunice to $1,319 in North Hobbs. None of the 8 has its own city guide, so this page covers all of them.
| Town or CDP | Type | People | Median household income | Median gross rent | Miles from center |
|---|---|---|---|---|---|
| Hobbs | city | 40,252 | $64,021 | $1,112 | 15 mi |
| Lovington | city | 11,498 | $68,821 | $1,014 | 11 mi |
| North Hobbs | CDP | 6,034 | $82,554 | $1,319 | 17 mi |
| Eunice | city | 3,015 | $49,087 | $721 | 29 mi |
| Jal | city | 2,364 | n/a | $1,318 | 49 mi |
| Tatum | town | 598 | n/a | $943 | 32 mi |
| Monument | CDP | 432 | n/a | n/a | 14 mi |
| Nadine | CDP | 271 | $120,074 | n/a | 22 mi |
Neighboring counties at a glance
The six counties whose centers lie closest to Lea County's, from 42 to 66 miles away. Yoakum County leads the group on income ($84,925), Cochran County trails ($45,313), and Lea County out-earns 2 of the six. The list crosses into Texas, where different lending rules and regulators apply.
| Nearby county | Center to center | Household income | Gross rent | Owner-occupied |
|---|---|---|---|---|
| Lea County | - | $68,015 | $1,101/mo | 71% |
| Yoakum County, TX | 42 mi | $84,925 | $973/mo | 67% |
| Gaines County, TX | 46 mi | $74,132 | $789/mo | 75% |
| Andrews County, TX | 56 mi | $72,242 | $1,305/mo | 79% |
| Eddy County, NM | 57 mi | $78,426 | $1,245/mo | 73% |
| Cochran County, TX | 65 mi | $45,313 | $697/mo | 65% |
| Loving County, TX | 66 mi | $51,250 | n/a | 11% |
More Lea County figures
Degree holders: 16% of adults over 25. 14.9% of residents have no health coverage.
| People and households | Lea County | New Mexico | Median county |
|---|---|---|---|
| Median age | 32.5 | 39.4 | 41.5 |
| Bachelor's or higher | 15.5% | 31.0% | 22.2% |
| No high school diploma | 25.3% | 12.0% | n/a |
| No health insurance | 14.9% | 9.6% | 7.8% |
| No vehicle | 4.3% | 5.6% | 5.4% |
| Work from home | 3.7% | 12.2% | 8.7% |
| Poverty rate | 18.7% | 17.8% | 13.2% |
| Unemployment (ACS) | 6.9% | 6.0% | 4.4% |
| Commute length | Lea County |
|---|---|
| Under 15 min | 52.7% |
| 15 to 29 min | 21.8% |
| 30 to 44 min | 8.9% |
| 45 to 59 min | 4.7% |
| 60+ min | 11.9% |
Borrowing situations common in Lea County
The county's numbers point to a few situations that come up often for Lea County borrowers.
- Medical bills. 15% of Lea County residents are uninsured. Before borrowing for care, ask the provider about financial assistance and payment plans.
- 17% mobile homes. Many are not titled as real estate, so home-equity options may not apply; an unsecured loan is the usual route.
- Assistance before credit. With a 19% poverty rate, check no-cost options before any Lea County loan.
- 48% rent-burdened. A payment on top of high rent needs a cushion; size it with the calculator.
A Lea County household budget, worked through
Lenders compare monthly debt payments with gross monthly income, the debt-to-income ratio. For a Lea County household at the medians it works out like this; treat it as an illustration only.
- Monthly gross at the median, Lea County: $5,668
- Housing at the median rent of $1,101 uses 19%
- 36% debt-to-income limit: $939 left for all other debt payments
Subtract what you already pay on other debts. A new payment should fit in what remains, with some to spare.
Checking a lender's license in New Mexico
Consumer lenders serving Lea County are licensed by the state, not the county; in New Mexico that is the New Mexico Financial Institutions Division. The Consumer Financial Protection Bureau accepts complaints nationwide. More on New Mexico: New Mexico personal loans.
Steps before you apply in Lea County
Quick steps for Lea County:
- Know the exact dollar figure you need before talking to a lender.
- Line up offers side by side: APR, fees in dollars, total cost.
- Verify the New Mexico license before giving out your Social Security number.
- Confirm the first due date before setting up autopay.
Nearby and statewide guides
The New Mexico guide covers the whole state.
Frequently asked questions
What does a typical Lea County household make?
About $68,015 a year at the median (ACS 2020-24), 6% above the New Mexico median.
How much is rent in Lea County?
Median gross rent, utilities included, is $1,101 a month; 48% of renters spend 30% or more of income on it.
Does this page cover Hobbs?
Yes, along with the other 7 Census places in Lea County, such as Lovington, North Hobbs, Eunice.
Is the fit check different in Lea County?
No. It is identical everywhere, and it never looks at your neighborhood.
Where can someone in Lea County check a lender's license?
With the New Mexico Financial Institutions Division. If a lender is unlicensed or asks for a fee before funding, walk away.