Hobbs & Lovington Rank Most Affordable in New Mexico

A new study from financial technology company SmartAsset ranks the most affordable places to live in New Mexico. These cities include both Lovington and Hobbs in Lea County! This is SmartAsset’s fourth annual study on the Most Affordable Places in America. These communities are ranked on an Affordability Index weighing property taxes, homeowners’ insurance fees and mortgage payments relative to income.

Check out the table below for a more detailed look at the statewide leaders:

Rank City Avg. Closing Costs Annual Property Tax Annual Homeowner’s Insurance Avg. Annual Mortgage Payment Median Income Affordability Index
1 Lovington, NM $2,707 $499 $625 $4,418 $51,177 60.13
2 Hobbs, NM $2,417 $654 $751 $5,308 $57,535 56.96
3 North Hobbs, NM $2,684 $653 $1,067 $7,545 $75,152 54.48
4 Carlsbad, NM $2,466 $642 $809 $5,719 $58,292 54.02
5 Tucumcari, NM $2,178 $396 $344 $2,433 $25,079 49.05
6 Bloomfield, NM $2,507 $826 $857 $6,062 $55,587 47.46
7 White Rock, NM $3,331 $1,864 $1,760 $12,447 $109,412 45.91
8 Alamogordo, NM $2,400 $771 $731 $5,167 $46,364 45.52
9 Roswell, NM $2,332 $766 $650 $4,596 $41,465 44.88
10 Los Alamos, NM $3,358 $1,809 $1,792 $12,675 $101,535 41.78

 

Additional study details including the methodology and interactive map can be found at SmartAsset.