Land and home values in Lea County, New Mexico
Lea County (small town, Hobbs, NM) covers 4,392 square miles and 18 census tracts. Residential land is about $2.38 per sq ft at the county median, from $1.40 in its most rural tracts to $3.99 in its most valuable. The typical home is worth about $199,000 and a 2-bedroom rents for about $1,340 a month, as of October 12, 2026.
Open on the satellite mapAll of New MexicoCounty values
| Land: residential | $2.38 | per sq ft |
| Land: residential | $103,499 | per acre |
| Land: quarter-acre lot | $25,875 | 10,890 sq ft |
| Land: farmland | $1,090 | per acre |
| Home: typical (median) | $199,000 | value |
| Home: entry-level | $133,000 | lower quartile |
| Home: upper-end | $291,000 | upper quartile |
| Build new | $177 | per sq ft, no land |
| Rent: 1-bedroom | $1,080 | per month |
| Rent: 2-bedroom | $1,340 | per month |
| Rent: 3-bedroom | $1,660 | per month |
| Rent: 4-bedroom | $1,840 | per month |
| Gross yield, 2-bed | 8.1% | a year |
Price tiers
| Tier | Tracts | Land $/sq ft | Typical home | Rent 2-bed |
|---|---|---|---|---|
| Small town | 13 | $2.41 | $199,000 | $1,340 |
| Rural | 1 | $2.80 | $299,000 | $1,520 |
| Farmland | 4 | $2.16 | $237,000 | $1,250 |
Tiers rank neighborhoods by home value within each metro area; outside metro areas they follow how built-up the land is. They describe prices only.
Cities and towns
Highest-value places
| Place | Type | Land $/sq ft | Typical home |
|---|---|---|---|
| Monument | Community | $3.17 | $292,000 |
| Hobbs | Town | $2.53 | $214,000 |
| North Hobbs | Community | $2.42 | $295,000 |
| Tatum | Town | $2.16 | $124,000 |
| Lovington | Town | $2.10 | $185,000 |
| Nadine | Community | $1.94 | $247,000 |
| Eunice | Town | $1.89 | $156,000 |
| Jal | Town | $1.40 | $109,000 |
Questions people ask
How much is land worth in Lea County, NM?
Residential land in Lea County, NM is about $2.38 per square foot, or $103,499 an acre, as of October 2026. A quarter-acre lot (10,890 sq ft) is about $25,875. Smaller lots sell for more per square foot and large tracts for less.
What is the typical home value in Lea County, NM?
The typical (median) home in Lea County, NM is worth about $199,000, with entry-level homes around $133,000 and upper-end homes around $291,000, as of October 2026.
How much is rent in Lea County, NM?
A 2-bedroom rents for about $1,340 a month in Lea County, NM, a 1-bedroom about $1,080 and a 3-bedroom about $1,660 (gross rent including utilities, HUD Fair Market Rent basis).
How much is farmland per acre in Lea County, NM?
Farmland averages about $1,090 an acre in Lea County, NM (USDA, including buildings), well below residential land.
Is this an appraisal?
No. Indicative values for screening, budgeting and negotiation, not an appraisal. For lending, a tax appeal or legal use, hire a state-licensed or certified appraiser.