Cheap Apartments for Rent in 88240
16 rentals
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PET FRIENDLY$1,205 - $1,510/mo
1-2 Beds
1-2 BathsHomestead Apartments | 2100 E Settlers Pass #1038,
Hobbs, NM 88240
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Apartments For Rent Near 88240
We found 8 more apartments matching your filters just outside 88240
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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 decreased in Jun 2026 compared to the previous month. Rent previously peaked in Jun 2025.
| Month | Average rent |
|---|---|
| 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 |
| Jun 2026 | $1,510 |
Average Rent By Bedroom and Home Type
In June 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 | $995 | $1,231 | $1,950 | $3,700 | $1,309 |
| Townhomes | — | $1,400 | — | — | $1,400 |
| Apartments and Condos | $995 | $1,200 | $1,200 | — | $995 |
| Houses | $750 | $1,200 | $2,050 | $3,700 | $1,500 |
Frequently Asked Questions about Rentals in 88240
- What is the average rent of an apartment in 88240?The average rent of an apartment in 88240 is $1,196 per month. This is about 39% lower than the national average.
- What is the average rent of a house in 88240?The average rent of a house in 88240 is $1,500 per month. This is about 23% lower than the national average.
- What is the average rent of a townhome in 88240?The average rent of a townhome in 88240 is $1,400 per month. This is about 28% lower than the national average.
- When is the average rent cheapest in 88240?In the last year, the average rent in 88240 was lowest in Jan 2025 when it was $1,101 per month.
- When is the average rent most expensive in 88240?In the last year, the average rent in 88240 was highest in Jun 2025 when it was $1,600 per month.
- How many available rental listings are in 88240?There are 22 available rental listings in 88240.
- What are some cities near 88240?