Hobbs is an interesting little city that almost feels like it's in the middle of nowhere. I've been living in Hobbs for a couple years so far, and while it's a few hours away from any major cities, I enjoy living here. Given its location in New Mexico, the summers are very sunny but the temperature can easily crack 100 degrees. It's something you'll want to keep in mind if you have any pets.
Buying a home in Hobbs can be pretty affordable, as the average home price is a little bit cheaper than the state average. You can probably find a nice ranch style house for around $100,000 or maybe a little more. If you're retired and looking for a comfortable place to settle down, Hobbs is probably a good choice. As far as the local job market, Hobbs is so-so. You'll be able to find a decent job, but the city doesn't have a lot of opportunities in the way of higher education.