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Lovington

Learn about the people, housing, costs and businesses in Lovington, New Mexico

Median Home$172,476
Median Rent$1,032/month
Population11,469
Leading IndustriesManufacturing · Agriculture & Mining · Finance & Insurance15% manufacturing
Home Value Growth+7.5% over 2 years
Family-Friendly31% of residentstop 3% nationally
Homeowners72% of occupied units
Lovington
NM

Frequently Asked Questions

What are today's mortgage rates in Lovington?

As of today, the 30-year fixed mortgage rate for Lovington is approximately 7.107% (7.153% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Lovington?

The median home value in Lovington is $172k. The median monthly rent is $1,032. Annual property taxes average $955. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Lovington?

Home values in Lovington have increased 7.5% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Lovington?

Based on a typical all-in ownership cost of $758/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $32k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Lovington is $69k/year.

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What industries drive the economy in Lovington?

The largest employment sectors in Lovington are public administration (21%) and agriculture and mining (18%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.