Median Home Price
$339,864.74
Median Rent
$1,477.86/mo
Price-to-Rent Ratio
19.2
Property Tax RateTIE
0.80%
Price Change (1Y)BETTER
+1.5%
Price Change (5Y)BETTER
+7.6%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$204,833
Median Home PriceBETTER
$189,258.96
Median RentBETTER
$1,363.12/mo
Price-to-Rent RatioBETTER
11.6
Property Tax RateTIE
0.80%
Price Change (1Y)
+0.5%
Price Change (5Y)
+2.4%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$45,303
Key Differences
Home Prices
Albuquerque's median home price of $339,864.74 is higher than Hobbs's $189,258.96 by 80%.
Monthly Rent
Renting in Albuquerque costs $1,477.86/mo compared to $1,363.12/mo in Hobbs—a difference of $114.74/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.