Residential Developers

Blueprint for Housing Sustainability

Hobbs Housing Grounded in Livability, Affordability

Embedded in the world’s most active oil basin, Hobbs is striking success among residential developers. In two years, the southeast New Mexico city doubled its permits issued for single family homes. With desirable annual salaries and growing families, Hobbs residents are house hunting for places to call home sweet home.

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Hobbs Housing Market a Beneficiary of the Growing Hobbs’ Business Community

Hobbs’ record-setting homebuilding is nearly as vibrant as the area’s oil and gas industry growth. As more production companies choose Hobbs, workers are seeking their own opportunity for a home in Hobbs.

From 2017-2018, Hobbs doubled the number of permits issued for residential single-family homes – all while experiencing a $20 million increase in residential and commercial permits.

Expansion continues with various multifamily and single-family developments underway. The City of Hobbs provides incentives to encourage development and opportunity for growth.

Figures

Homes Needed by 2020 to Meet Demand 2,000
Median Home Price $170,000
Existing Apartments 2,300+
Needed Apartments to Meet Population Growth 2,200+

Missi Currier

President & CEO,
Economic Development Corporation of Lea County

Missi@edclc.org
575.397.2039