HomeNew MexicoLea County
Lea County, New Mexico: commercial real estate data.
Lea County, New Mexico had an estimated 75,151 residents on July 1, 2024, up 0.9 percent since the 2020 census base of 74,457, across 4,391 square miles. County output reached $12.86 bn in 2024, 1,730 establishments operate here, and the SBA record carries 97 7(a) approvals worth $61.1 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Lea County
How many people live in Lea County
- Population, American Community Survey 2020-202473,733
- Households24,670
- Average household size2.99
- Median household income$68,015
- Median age32.5
- Median gross rent$1,101 per month
- Median owner-occupied home value$184,000
- Home value to household income2.7 times
- Annual rent as a share of median income19.4 percent
- Adults 25 and over with a bachelor degree or higher15.5 percent
- Adults 25 and over with a graduate degree7.4 percent
- Adults 25 and over44,215
- Population under 1821,754
- Share under 1829.5 percent
- Population 65 and over8,378
- Share 65 and over11.4 percent
- Working age population, 18 to 6443,601
- Civilian labor force33,375
- Unemployment rate6.9 percent
- Labor force participation, adults 18 and over64.2 percent
- Rank by population among New Mexico counties7th of 33
- Rank by population among US county-equivalents, Puerto Rico included761st of 3,222
Lea County is the 7th largest of 33 New Mexico counties by population. A median home costs 2.7 times median household income, which is affordable by national standards. Residents under 18 outnumber those 65 and over, at 29.5 percent against 11.4 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Lea County
Is Lea County's population growing?
- Population, July 1, 202475,151
- Census 2020 base population74,457
- Population change since the 2020 census base0.93 percent
- Population change, 2023 to 20241,648
- Births, 2024868
- Deaths, 2024627
- Natural change, 2024241
- Net domestic migration, 2024-271
- Net international migration, 20241,671
- Total net migration, 20241,400
- Cumulative net domestic migration, 2021 to 2024-4,323
- Rank by growth among US county-equivalents1505th of 3,144
The county has grown 0.93 percent since the 2020 census base. The population grew in 2024 from both sources: births exceeded deaths and more people moved in than left.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Lea County
Where are people moving to Lea County from?
- Tax returns filed by households arriving1,032
- People arriving, from those returns2,012
- Tax returns filed by households leaving1,419
- Net household movement-387
- Adjusted gross income arriving$49.1 m
- Net adjusted gross income movement$-36.7 m
- Average income of an arriving household$47,606
- Average income of a leaving household$60,459
- Largest single originBernalillo County (51 households)
- Largest single destinationLubbock County (142 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Bernalillo County | 51 | 94 | $1.8 m |
| Lubbock County | 49 | 92 | $1.8 m |
| El Paso County | 43 | 90 | $1.9 m |
| Eddy County | 40 | 73 | $1.9 m |
| Ector County | 38 | 62 | $1.2 m |
| Doña Ana County | 33 | 59 | $1.2 m |
| Gaines County | 30 | 60 | $1.7 m |
| Maricopa County | 27 | 52 | $1.1 m |
Households arriving report $12,853 less average income than households leaving, which drains spending power even where headcount holds up. The largest single source of arrivals is Bernalillo County, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Lea County
What is the Lea County economy?
- County GDP, 2024$12.86 bn
- County GDP, 2023$11.29 bn
- GDP change, 2023 to 202413.9 percent
- GDP change over five years145.5 percent
- Rank by GDP among the New Mexico areas BEA publishes2nd of 33
- Rank by GDP among the US county areas BEA publishes363rd of 3,127
- GDP per resident$174,384
Output grew 13.9 percent in the latest year and 145.5 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Lea County
Employment by industry in Lea County
- Covered employment, annual average33,770
- Establishments reporting2,195
- Average annual pay$69,342
- Average weekly wage$1,333
- Mining, quarrying, and oil and gas extraction, employment8,171
- Mining, quarrying, and oil and gas extraction, average annual pay$101,206
- Retail trade, employment3,451
- Retail trade, average annual pay$36,639
- Accommodation and food services, employment3,262
- Accommodation and food services, average annual pay$25,301
- Construction, employment2,994
- Construction, average annual pay$75,775
- Health care and social assistance, employment2,641
- Transportation and warehousing, employment2,075
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Mining, quarrying, and oil and gas extraction | 8,171 | 358 | $101,206 |
| Retail trade | 3,451 | 237 | $36,639 |
| Accommodation and food services | 3,262 | 166 | $25,301 |
| Construction | 2,994 | 183 | $75,775 |
| Health care and social assistance | 2,641 | 153 | $50,915 |
| Transportation and warehousing | 2,075 | 187 | $89,080 |
| Administrative and support and waste management services | 1,451 | 101 | $52,064 |
| Wholesale trade | 897 | 110 | $89,986 |
Mining, quarrying, and oil and gas extraction is the largest private sector at 8,171 jobs, 24.2 percent of covered employment.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Lea County
How many businesses are in Lea County?
- Establishments, all industries1,730
- Employment at those establishments24,911
- Annual payroll$1.65 bn
- Establishments per 1,000 residents23.5
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against. County Business Patterns counts private establishments with paid employees in March 2023, while the Quarterly Census of Employment and Wages above counts every unemployment-insured employer, public ones included, as a 2024 annual average, so the two establishment and employment counts differ.
US Census Bureau, County Business Patterns, 2023.
Lea County
Building permits in Lea County
- Housing units authorized by permit, 2024172
- Declared construction value permitted$51.9 m
- Single family units authorized172
- Multifamily units authorized0
- Multifamily share of units0.0 percent
- Average declared value per unit$301,457
- Units authorized per 1,000 households7.0
Single-family homes are 100.0 percent of units authorized, so the pipeline is predominantly single-family.
US Census Bureau, Building Permits Survey, 2024 annual.
Lea County
SBA loans in Lea County (7(a) and 504)
- 7(a) approvals recorded97
- 7(a) gross approval dollars$61.1 m
- Average 7(a) approval$630,359
- Median 7(a) approval$155,000
- 10th percentile approval$18,000
- 90th percentile approval$2,168,000
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)1,314
- Jobs per approval13.5
- Distinct 7(a) lenders active21
- Distinct industries receiving approvals44
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer16.5 percent
- Loans on real estate terms16
- Loans on working capital terms, 120 months or shorter77
- Franchise loans5
- Franchise share of approvals5.2 percent
- Leading industry by approval countSupport Activities for Oil and Gas Operations (37)
- Most active lenderWestern Commerce Bank (56)
- 504 approvals recorded5
- 504 gross approval dollars$1.7 m
- Average 504 approval$334,200
- Median 504 approval$200,000
- Distinct CDCs active2
- 504 jobs per approval9.0
- 504 jobs per million dollars approved26.9
- Most active CDCCapital Certified Development Corporation (3)
- Combined SBA approval dollars, 7(a) FY2020 to FY2026 and 504 FY2010 to FY2026$62.8 m
The average approval of $630,359 sits well above the median of $155,000, pulled up by a few larger deals, so the median is the better guide to what a typical borrower here gets. Only 16.5 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Lea County
SBA loan default and charge-off rates in Lea County
Do SBA loans in Lea County get paid back?
- Loans with a final outcome recorded23
- Paid in full20
- Charged off3
- Status: Exempt from disclosure60
- Status: Paid in full20
- Status: Cancelled9
- Status: Charged off3
- Status: Committed, not yet disbursed5
Only 23 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
Compare against the national and state SBA charge-off rates, computed the same way over resolved loans only.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lea County
SBA lending by place in Lea County
- Borrower cities with recorded lending3
- Hobbs, approvals60
- Lovington, approvals36
- Jal, approvals1
| Borrower city | Approvals | Gross approval dollars |
|---|---|---|
| Hobbs | 60 | $30,461,100 |
| Lovington | 36 | $29,543,700 |
| Jal | 1 | $1,140,000 |
Hobbs accounts for 60 approvals against 36 in Lovington. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lea County
How large is Lea County?
- Land area4,391 sq mi
- Rank by land area among New Mexico counties11th of 33
- Width, east to west44.3 mi
- Height, north to south108.4 mi
- Geographies sharing a boundary9
- Residents per square mile of land17
- Establishments per square mile0.39
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Lea County
Flood risk in Lea County
- Participation of the county's own NFIP community Lea County, unincorporated areasParticipating, community 350130
- Communities in the county in the NFIP Community Status Book6
- Of those, participating in the NFIP6
- NFIP participation rate100.0 percent
- Best Community Rating System class in the county A lower CRS class is a larger flood insurance premium discount.Class 9
- Communities carrying a CRS class1
- Radon levels in Lea County, EPA zone predicted average indoor radon screening level from 2 to 4 pCi/LZone 2
The county's own community in the status book, unincorporated Lea County (community 350130), participates in the National Flood Insurance Program and carries no Community Rating System class, so no CRS premium discount applies there. The EPA places Lea County in radon zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. The zone is a screening prediction for the county and does not substitute for a test at an address. The best Community Rating System class among the county's communities is 9, which carries a flood insurance premium discount for policies written in that community. 100.0 percent of the county's listed communities participate in the National Flood Insurance Program, per Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26. US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Coverage
What this page does not hold.
Traffic counts, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Feasibility studies
When a Lea County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Lea County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population, American Community Survey 2020-202473,733
- Households24,670
- Average household size2.99
- Median household income$68,015
- Median age32.5
Common questions
Lea County questions, answered from the record.
How many people live in Lea County, New Mexico?
The Census Bureau estimates 75,151 residents on July 1, 2024 (US Census Bureau, Population Estimates Program, Vintage 2024). The American Community Survey 2020-2024 five-year estimate is 73,733, in 24,670 households, ranking 7th of 33 New Mexico counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Lea County's population growing?
The population has grown 0.93 percent since the 2020 census base of 74,457, to 75,151 on July 1, 2024. In 2024 there were 868 births against 627 deaths, with net migration of 1,400. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Lea County?
$68,015. The median owner-occupied home is valued at $184,000, which is 2.7 times income, and median gross rent is $1,101 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are in Lea County?
1,730 establishments, employing 24,911 people with an annual payroll of $1.65 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is employment by industry in Lea County?
Mining, quarrying, and oil and gas extraction is the largest private sector at 8,171 jobs, 24.2 percent of covered employment. Covered employment averages 33,770 jobs at an average annual pay of $69,342, or $1,333 a week. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Lea County?
97 7(a) approvals totaling $61.1 m since FY2020, across 21 lenders, with a median approval of $155,000, plus 5 504 approvals worth $1.7 m since FY2010. These are approvals recorded in the release, not loans disbursed.
How many building permits were issued in Lea County?
172 housing units were authorized by permit in 2024, with a declared construction value of $51.9 m. Multifamily was 0.0 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Lea County?
Zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Lea County come from?
The largest single origin is Bernalillo County, with 51 households. Arriving households report an average income of $47,606 against $60,459 for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Lea County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Lea County?
No. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame, to be confirmed locally.
Lea County
Cities and places in Lea.
8 Census places lie wholly or partly in Lea County. All 8 carry enough published place level data for a page of their own and are linked.
| Place | Type | Population | SBA 7(a) approvals, projects in this county | Lies in |
|---|---|---|---|---|
| Hobbs | city | 40,252 | 60 | Wholly in this county |
| Lovington | city | 11,498 | 36 | Wholly in this county |
| North Hobbs | CDP | 6,034 | None recorded | Wholly in this county |
| Eunice | city | 3,015 | None recorded | Wholly in this county |
| Jal | city | 2,364 | 1 | Wholly in this county |
| Tatum | town | 598 | None recorded | Wholly in this county |
| Monument | CDP | 432 | None recorded | Wholly in this county |
| Nadine | CDP | 271 | None recorded | Wholly in this county |