Market Overview
Home Prices in Lovington, NM
The median home value in Lovington, NM is $186,849 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 1.3% compared to a year ago and up 0.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Lovington are priced54% below average. Lovington is part of the Hobbs, NM metro area.
Over the past five years, Lovington home values have fallen by approximately24.4%, reflecting softening conditions in this market.
Price History
Lovington Home Price Trend
City Comparison
Lovington vs. National Median
At $186,849, homes in Lovington cost 54% below the national median of $410,000. This makes Lovington a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Lovington?
20% Down Payment
$37,370
on $186,849
Monthly P&I
$974/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,237/mo
incl. taxes & insurance
Income Needed
$49,480
gross annual (30% rule)
10% Down Option
$18,685
+ PMI applies
Loan Amount (20% dn)
$149,479
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Lovington, NM?
The median home value in Lovington is $186,849 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 1.3% year-over-year.
How much have home prices changed in Lovington?
Over the past year, home values in Lovington have increased by 1.3%. Over five years, prices have fallen approximately 24.4%.
How much do I need to earn to buy a home in Lovington?
To comfortably afford the median home price of $186,849 with a 20% down payment ($37,370) at today's rates (6.8%), you'd need a gross annual income of approximately $49,480. This assumes keeping total housing costs at or below 30% of gross income.
How does Lovington compare to the national average home price?
The national median home value is approximately $410,000. At $186,849, homes in Lovington are 54% below the national average.
What metro area is Lovington part of?
Lovington is part of the Hobbs, NM metropolitan area. Home prices and market conditions can vary across the broader metro region.