ZIP Code 88240 is associated with the U.S. city Hobbs in New Mexico (Lea County). The current population estimate for the ZIP Code is 40,944. The 88240 ZIP Code has a median age of 30.8 years, and 12.2% of residents are aged 62 years and older. Approximately 15% of the population lives below the poverty line, while the median househould income sits at $58,909. It is estimated that about 14.4% of residents in this New Mexico region hold a bachelor's degree or higher, while the per capita income is approximately $24,943.
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The median household income in ZIP Code 88240 is $58,909, while the region's mean household income is $73,924. Breaking income down further, per capita income in the region is $24,943. The per capita income in ZIP Code 88240 of $24,943 is approximately 8.4% less than the per capita income in the U.S. overall of $27,230. An estimated 15.1% of the population is living below the poverty line in this region. This rate is approximately58.95% higher than the overall poverty rate in the U.S. of 9.5%. Regarding household income, approximately 19.6% of the population in 88240 earn $50,000 to $74,999 per year, while an estimated 14.3% earn $75,000 to $99,999 per year, and 3.8% of 88240 residents earn $200,000 or more per year.
| Household Income | Percent |
|---|---|
| Less than $10,000 per year | 7.8% |
| $10,000 to $14,999 per year | 6.3% |
| $15,000 to $24,999 per year | 9.0% |
| $25,000 to $34,999 per year | 8.2% |
| $35,000 to $49,999 per year | 12.1% |
| $50,000 to $74,999 per year | 19.6% |
| $75,000 to $99,999 per year | 14.3% |
| $100,000 to $149,999 per year | 14.0% |
| $150,000 to $199,999 per year | 4.9% |
| $200,000 or more per year | 3.8% |
Looking at race in the population that makes up ZIP Code 88240, 97.8% is one race, while 2.2% are two or more races. Approximately 60.1% of 88240 residents are hispanic or Latino (of any race). The most common race in 88240 (race alone or in combination with one or more other races), is White (87.4%), followed by Black or African American (7.1%) .
| Industry | Percent |
|---|---|
| White | 87.4% |
| Black or African American | 7.1% |
| American Indian and Alaska Native | 1.9% |
| Asian | 1.1% |
| Native Hawaiian and Other Pacific Islander | 0.1% |
| Some other race | 4.9% |
Residents of ZIP Code 88240 are younger than average. The median age of 30.8 years in ZIP Code 88240 is approximately 19.16% lower than the overall median age in the U.S. of 38.1 years. About 69.5% of residents are aged 18 years and older, and 12.2% of residents are 62 years and over. Approximately 15.7% of the population in 88240 falls in the age group 25 to 34 years, while an estimated 12.4% are aged 35 to 44 years. On the low end of the scale, 1.2% of 88240 residents are aged 85 years and over.
| Age Range | Percent |
|---|---|
| Under 5 years | 8.3% |
| 5 to 9 years | 9.1% |
| 10 to 14 years | 8.6% |
| 15 to 19 years | 7.7% |
| 20 to 24 years | 7.2% |
| 25 to 34 years | 15.7% |
| 35 to 44 years | 12.4% |
| 45 to 54 years | 11.5% |
| 55 to 59 years | 5.7% |
| 60 to 64 years | 4.0% |
| 65 to 74 years | 5.6% |
| 75 to 84 years | 3.1% |
| 85 years and over | 1.2% |
In ZIP Code 88240, 74.8% of the population graduated high school, while 14.4% have a bachelor's degree or higher. In this region, 11.7% achieved an education level less than 9th grade, while 5.2% hold a graduate or professional degree. Approximately 31.0% in this Lea County region reached the highest level of high school graduate (including equivalency).
| Education Level | Percent |
|---|---|
| Less than 9th grade | 11.7% |
| 9th to 12th grade, no diploma | 13.5% |
| High school graduate (includes equivalency) | 31.0% |
| Some college, no degree | 21.9% |
| Associate's degree | 7.5% |
| Bachelor's degree | 9.1% |
| Graduate or professional degree | 5.2% |
| Health Issue | Percent of adults* |
|---|
One of the top preventative health measures in ZIP Code 88240 is current access to health insurance, as an estimated 81.9% of adults 18 and older take part in this preventive measure. Additionally, % of those 18 and above in 88240 list , as a preventive measure.
| Preventive Measure | Percent of adults* |
|---|---|
| Current access to health insurance | 81.9% |
| Risk Behavior | Percent of adults* |
|---|
In 88240, 60.4% of the population is in the labor force. Recent estimates place 1.7% as working from home, while the total labor force in the region has a mean travel to time to work of 20.7 minutes. Approximately 19.9% of the employed population 16 years and over in 88240 work in agriculture, forestry, fishing and hunting, and mining, while an estimated 16.8% work in educational services, and health care and social assistance. On the lower end of the scale, just 1.1% of 88240 workers 16 years and over work in information.
| Industry | Percent |
|---|---|
| Agriculture, forestry, fishing and hunting, and mining | 19.9% |
| Construction | 7.1% |
| Manufacturing | 3.3% |
| Wholesale trade | 4.1% |
| Retail trade | 10.8% |
| Transportation and warehousing, and utilities | 6.6% |
| Information | 1.1% |
| Finance and insurance, and real estate and rental and leasing | 3.9% |
| Professional, scientific, management, and administrative | 5.9% |
| Educational services, and health care and social assistance | 16.8% |
| Arts, entertainment, and recreation, and accommodation and food services | 11.0% |
| Other services, except public administration | 5.1% |
| Public administration | 4.3% |
In ZIP Code 88240, 64.4% of the population lists "English only" as the language spoken in home, while 34.4% of lists Spanish. Additionally, Asian and Pacific Islander languages are spoken in 0.6% of homes, and other Indo-European languages are spoken in 0.3% of homes. Lastly, 0.3% of homes list "other languages" as spoken in the home. All percentages referenced are for the population 5 years and older in this Lea County region.
| Language Spoken | Percent |
|---|---|
| English only | 64.4% |
| Spanish | 34.4% |
| Other Indo-European languages | 0.6% |
| Asian and Pacific Islander languages | 0.3% |
| Other languages | 0.3% |
Regarding the age of homes in ZIP Code 88240, an estimated 21.1% of homes were built between 1950 and 1959. Additionally, 19.3% of homes in the region were built between 1970 and 1979, while an estimated 2.4% of homes were built in 1939 or earlier in this Lea County region.
| Year Home Built | Percent |
|---|---|
| Built in 2014 or later | 3.7% |
| Built between 2010 and 2013 | 4.2% |
| Built between 2000 and 2009 | 7.0% |
| Built between 1990 and 1999 | 7.0% |
| Built between 1980 and 1989 | 13.1% |
| Built between 1970 and 1979 | 19.3% |
| Built between 1960 and 1969 | 16.5% |
| Built between 1950 and 1959 | 21.1% |
| Built between 1940 and 1949 | 5.7% |
| Built in 1939 or earlier | 2.4% |
Regarding consumer complaints about financial products in ZIP Code 88240, credit reporting or other personal consumer reports have received the most complaints in 88240 in the past 12 months. Credit reporting or credit repair services received the second most complaints. The most frequent complaint overall in this Lea County region was incorrect information on a report.
| Complaint Product | Number of Complaints* |
|---|---|
| Credit reporting or other personal consumer reports | 322 |
| Credit reporting or credit repair services | 166 |
| Debt collection | 52 |
| Credit card | 19 |
| Checking or savings account | 10 |
| Other | 10 |
| Complaint Issue | Number of Complaints* |
|---|---|
| Incorrect information on your report | 207 |
| Improper use of your report | 144 |
| Problem with a company's investigation into an existing problem | 76 |
| Unable to get your credit report or credit score | 44 |
| Problem with a credit reporting company's investigation | 34 |
| Other | 74 |
Regarding solar power potential, ZIP Code 88240 has an average daily solar radiation level of 6.47 kWh/m2/day. This is approximately 57.04% greater than an area in the U.S. with historically low solar radiation levels (WA), and about 1.82% less than an area in the U.S. with historically high solar radiation levels (AZ).
| Region | Residential | Commercial | Industrial |
|---|---|---|---|
| ZIP Code 88240 | 7.63¢/kWh | 6.64¢/kWh | 4.15¢/kWh |
| New Mexico | 14.87¢/kWh | 11.08¢/kWh | 6.77¢/kWh |
| United States | 17.11¢/kWh | 13.27¢/kWh | 8.26¢/kWh |
| Month | ZIP Code 88240 | Low (WA) | High (AZ) |
|---|---|---|---|
| Jan | 6 | 1.9 | 5.84 |
| Feb | 6.6 | 3 | 6.31 |
| Mar | 6.89 | 3.65 | 7.02 |
| Apr | 7.11 | 5.13 | 7.3 |
| May | 6.74 | 5.17 | 7.13 |
| Jun | 6.48 | 5.72 | 6.95 |
| Jul | 6.45 | 6.22 | 6.51 |
| Aug | 6.6 | 6.08 | 6.65 |
| Sep | 6.55 | 5.15 | 7.02 |
| Oct | 6.55 | 3.32 | 6.92 |
| Nov | 6.17 | 2.33 | 5.99 |
| Dec | 5.54 | 1.78 | 5.46 |