Photo: AllenS · Public domainMeasured against area pay, Lovington costs less to live in than 71% of U.S. towns
It ranks #18 of 72 in New Mexico for affordability. Up 4.9% in a year, 42% below the New Mexico typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Hobbs, NM micro area ($68K). How TownRatings grades cost of living
The grade compares costs with what households across the Hobbs-area micro earn ($68K, Census 2020–24). The typical home costs 2.4 years of area income, and 60% of renters pay 30% or more of income for housing.
In dollars
- $184Ktypical home, 42% below the New Mexico typical homeZillow, September 2026
- $1,250a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
In paychecks the grade
- 2.4 yrsof area income buys the typical home; the typical U.S. town: 3.3$68K, Hobbs-area income
- 18%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 60%of renters pay 30%+ of income for housing; across New Mexico: 50%Census 2020–24
- 18%of owners do; the typical U.S. town: 20%Census 2020–24
The short version on homes in Lovington
Prices are 27% below their 2021 peak
The typical Lovington home peaked at $253K in February 2021 and is worth about $184K now. Across New Mexico, values are at or near their high. Over five years, Lovington is down 20%. Price trend ↓
Owning can cost less than renting
With 20% down at the calculator’s rate, the typical Lovington home runs about $1,050 a month with tax and insurance. A two-bedroom rents for about $1,250. Can I afford it? ↓
About two in three renters are stretched
60% of renter households spend 30% or more of their income on rent, against 50% across New Mexico. That’s despite a standard two-bedroom costing just 22% of the median household income, so renters here earn far less than the typical household. Renting ↓
Written from the data on this page. Home values are the Zillow Home Value Index, through September 2026; sales and supply are Redfin’s for September 2026; incomes, rents paid, taxes and ownership come from the Census American Community Survey.
What’s behind Lovington’s grade
Measured against what households in the area earn, Lovington is more affordable than 71% of U.S. towns, #18 of 72 in New Mexico. The share of households paying 30%+ for housing pulls the grade down most; property tax holds it up.
Values have lagged New Mexico: the typical Lovington home is down 20.0% in five years, against 25.1% statewide (Zillow).
Down 20% in five years
Slower than New Mexico (25.1%).
Show as a table
| January | Lovington | New Mexico |
|---|---|---|
| 2017 | $196,000 | $177,000 |
| 2018 | $207,000 | $183,000 |
| 2019 | $219,000 | $191,000 |
| 2020 | $239,000 | $203,000 |
| 2021 | $253,000 | $228,000 |
| 2022 | $223,000 | $261,000 |
| 2023 | $201,000 | $285,000 |
| 2024 | $180,000 | $299,000 |
| 2025 | $177,000 | $310,000 |
| 2026 | $176,000 | $313,000 |
| September 2026 | $184,000 | $316,000 |
A typical Lovington home worth $194K in October 2016 is worth about $184K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
Too few sales to read the market
Only 9 homes sold in September 2026, the latest month in Redfin’s figures: too few to describe the market or quote a median sale price.
A typical home costs 2.4 years of area income
The calculator starts from the area income the grade uses. Switch to Lovington’s own median, or type yours.
That covers a typical Lovington home, with $94K to spare.
A two-bedroom rents for about $1,250 a month here, $200 more than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Lovington’s typical property tax (0.55% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $1,250
Renters already here pay a median of $1,014, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Lea County, NM): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
Property tax runs below the New Mexico norm
The median bill is $920 (New Mexico: $1,731), 0.55% of a home’s value a year, against 0.70% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
Lovington and its neighbors
One source per column.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Lovington | B+ | $184K | $166K | 0.55% | $1,250 |
Questions about the cost of living in Lovington
Is Lovington expensive to live in?
Measured against what households in the area earn, Lovington costs less than 71% of U.S. towns: a B+ for cost of living, #18 of 72 in New Mexico. The typical home costs 2.4 years of the median household income of the Hobbs, NM micro area ($68K).
How much does a house cost in Lovington?
About $184K, Zillow’s typical value for September 2026, up 4.9% in a year. The New Mexico typical home is $316K.
What salary do you need to live in Lovington?
To buy the typical home with 20% down at 6.3%, about $45,000 a year, keeping the payment (about $1,050 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $50,000.
How much is rent in Lovington?
HUD puts a two-bedroom at about $1,250 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $1,014 (Census 2020–24).
What are property taxes in Lovington?
The median bill is $920 a year, 0.55% of the median home value (New Mexico: $1,731, 0.70%), from the Census 2020–24.
Are home prices in Lovington going up?
Yes: up 4.9% in the past year and -20.0% in five years, against 25.1% across New Mexico (Zillow).
Neighbors talk housing
What Lovington buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, September 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.