88242 — Hobbs, NM Home Values
Typical home value $298,626 as of June 2026 · 1st of 6 in Hobbs, NM
Blue: typical home value (Zillow ZHVI) in ZIP code 88242, June 2021 to June 2026. This page shows observed data only; no forecast.
How 88242 compares in the Hobbs, NM area
ZIP code 88242 (Hobbs, NM) has a typical home value of $298,626 as of June 2026, ranking 1st of 6 ZIP codes tracked in the Hobbs, NM area, the most expensive ZIP code in the metro. Prices here have moved +5.2% over the trailing 12 months. Over the past five years, the typical value in this ZIP code has changed +3.3%, from $289,210 in June 2021 to $298,626 in June 2026.
Every figure above is observed Zillow data. Sialim's forecasting engine works at the metro level; see the Hobbs, NM forecast for a modeled outlook, or browse the full ranked list of ZIP codes in Hobbs.
Population and demographics
ZIP code 88242 has a population of 7,684, per the Census Bureau's American Community Survey 5-year estimate. By race and ethnicity: 51.3% Hispanic or Latino, 47.2% White, 0.7% another race, and 0.7% two or more races.
Nearby public schools
| School | Address | Distance |
|---|---|---|
| COLLEGE LANE ELEMENTARY | 2000 COLLEGE LN, HOBBS, NM | 3 mi |
| STONE ELEMENTARY | 1015 CALLE SUR, HOBBS, NM | 4.9 mi |
| LAE COUNTY CORRECTIONS | 6900 WEST MILLEN DR, HOBBS, NM | 5 mi |
Distance is straight-line from the ZIP code's center; driving distance will be longer. School attendance is set by district boundaries, not proximity. Confirm which school a specific address is zoned for with the local school district. Source: National Center for Education Statistics.
Frequently asked questions
What is the typical home value in ZIP code 88242?
$298,626 as of June 2026, the latest month Zillow has published observed data for.
Is 88242 an expensive ZIP code in the Hobbs, NM area?
88242 ranks 1st of 6 ZIP codes in the Hobbs, NM area by typical home value, the most expensive ZIP code in the metro.
How much have home values in 88242 changed over the past year?
+5.2% over the trailing 12 months, from observed Zillow data.
What is the population of ZIP code 88242?
7,684, per the US Census Bureau's American Community Survey 5-year estimate.
What are the closest public schools to ZIP code 88242?
COLLEGE LANE ELEMENTARY (3 mi), STONE ELEMENTARY (4.9 mi), LAE COUNTY CORRECTIONS (5 mi), by straight-line distance from the ZIP code's center. School attendance is set by district boundaries, not proximity. Confirm assignment with the local school district.
Is this page showing a forecast for 88242?
No. Every number on this page is observed Zillow data as of June 2026, not a forecast. Sialim's forecasting engine runs at the metro level; see the Hobbs, NM forecast for a modeled outlook.
ZIP-level values shown here are observed Zillow data, not forecasts. Sialim's forecasting engine works at the metro level today; ZIP-level forecasts are planned for Sialim Pro. Data © Zillow, via Zillow Research.