Cheap Apartments for Rent in 88240
18 rentals
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Use arrow keys to navigateNEW - 14 MIN AGOPET FRIENDLY$1,155 - $1,555/mo
1-2 Beds
1-2 BathsHomestead Apartments | 2100 E Settlers Pass #2048,
Hobbs, NM 88240- Use arrow keys to navigate
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Apartments For Rent Near 88240
We found 5 more apartments matching your filters just outside 88240
Use arrow keys to navigateNEW - 1 DAY AGO$1,200/mo2 Beds1 Bath2001-2111 West Jackson Avenue | 2001-2111 W Jackson Ave #2015,
Lovington, NM 88260
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Use arrow keys to navigatePET FRIENDLYTotal price$1,808 - $2,099/mo2-3 Beds2 BathsOak Manor Villas | 3409 Live Oak St #3528B,
Hobbs, NM 88242
Average Rent Trends in 88240
Rent in 88240 varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent increased in May 2026 compared to the previous month. Rent previously peaked in Jun 2025.
| Month | Average rent |
|---|---|
| Jun 2025 | $1,600 |
| Jul 2025 | $1,310 |
| Aug 2025 | $1,579 |
| Sep 2025 | $1,579 |
| Oct 2025 | $1,498 |
| Nov 2025 | $1,340 |
| Dec 2025 | $1,446 |
| Jan 2026 | $1,420 |
| Feb 2026 | $1,600 |
| Mar 2026 | $1,400 |
| Apr 2026 | $1,434 |
| May 2026 | $1,800 |
Average Rent By Bedroom and Home Type
In May 2026, Apartments and Condos were the most affordable home type to rent compared with Townhomes and Houses.
| 1 bed | 2 beds | 3 beds | 4 beds | All | |
|---|---|---|---|---|---|
| All home types | $1,106 | $1,400 | $1,947 | $3,200 | $1,635 |
| Townhomes | — | $1,400 | $2,200 | — | $1,400 |
| Apartments and Condos | $900 | $1,700 | $2,650 | — | $1,200 |
| Houses | — | $1,395 | $1,950 | $3,200 | $1,950 |
Frequently Asked Questions about Rentals in 88240
- What is the average rent in 88240?The average rent in 88240 is $1,635. Rent prices range from $827 to as much as $3,450, depending on the type of rental.
- How does the rent in 88240 compare to the national average?Average rent in 88240 is about 14% lower than the national average rent of $1,910. That means it is less expensive to rent in 88240 compared to the U.S. average.
- What is the average rent in 88240, by number of bedrooms?The average rent in 88240 is $ for a studio, $1,106 for a 1 bedroom, $1,400 for a 2 bedroom, $1,947 for a 3 bedroom, and $3,200 for a 4 bedroom.
- How have rent prices in 88240 changed compared to last year?In the past year, the average rent price in 88240 has increased by $57. That means the average rent is 3% higher than last year.
- How many available rental listings are in 88240?There are 18 available rental listings in 88240.
- What are some cities near 88240?