Hobbs (population ~41,000) lies in the southeast corner of New Mexico near the Texas border, and is a regional centre for the oil/gas industry. Housing consists of a mix of older tract homes, newer subdivisions, and some rural acreage lots. The feel is more small-city and less dense than the major metro centres. Homes are relatively affordable compared to coastal metros. Exact current median price data is less readily visible, but likely in the USD $200k-$300k range given regional norms. Building on larger lots will have costs similar to other non-metro markets (say USD $180–250/sq ft plus land) though lot and utility infrastructure may vary.