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Updated almost 8 years ago on . Most recent reply

Yousif Abudra's profile image
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Yousif Abudra
  • Real Estate Investor / Syndicator
  • from San Ramon, California
  • Member since Nov 4, 2015
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Yousif Abudra's profile image
Yousif Abudra's profile image
Yousif Abudra
  • Real Estate Investor / Syndicator
  • from San Ramon, California
  • Member since Nov 4, 2015
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Yousif Abudra
  • Real Estate Investor / Syndicator
  • San Ramon, CA
91
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New Mexico Real Estate Q&A Discussion Forum

Rent Trends in Hobbs, New Mexico 2016

Yousif Abudra
  • Real Estate Investor / Syndicator
  • San Ramon, CA
Posted

Does anyone have insight to the rental trends in Hobbs, New Mexico?  Or possibly Carlsbad, New Mexico / Midland, Texas / Odessa, Texas?

Given the weakness of the Permian, I would expect to see rents decreasing and vacancies climbing, but would like to get input from folks on the ground in those markets.

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Marc C.
  • Buy-and-Hold Rental Investor
  • from Santa Fe, New Mexico
  • Member since May 3, 2015
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Marc C.
  • Buy-and-Hold Rental Investor
  • from Santa Fe, New Mexico
  • Member since May 3, 2015
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Marc C.
  • Buy-and-Hold Rental Investor
  • Santa Fe, NM
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Marc C.
  • Buy-and-Hold Rental Investor
  • Santa Fe, NM
Replied

You might try to compare HUD Fair Market Rents for those counties in SE NM for 2014, 2015, 2016, and 2017 and see if they dropped.

https://www.huduser.gov/portal/datasets/fmr.html

If they are truly "fair market", they should have fallen in 2015 from 2014, and again in 2016 from 2015. The 2017 FMR's were recently posted.

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