HomeNew MexicoLea County
Lea County, New Mexico: commercial real estate data.
Lea County, New Mexico has a population of 73,733 across 4,391 square miles, up 0.9 percent since the 2020 census base. 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.
120 sourced county values · tier FULL · 11 sections
Lea County
How many people live in Lea County
- Population73,733
- 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-equivalents761st
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 an affordable ownership market 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 growing
- Population change since the 2020 census base0.93 percent
- Census 2020 base population74,457
- 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
The county has grown 0.93 percent since the 2020 census base. Migration contributed more to 2024 change than births over deaths, so demand here follows people arriving rather than families forming.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Lea County
Where people moving to Lea County come from
- Tax returns filed by households arriving1,032
- People arriving, from those returns2,012
- Adjusted gross income arriving$49.1 m
- Net adjusted gross income movement$0
- Average income of an arriving household$47,606
- Largest single originLea County Non-migrants (22,757 households)
- Largest single destination (22,757 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Lea County Non-migrants | 22,757 | 52,498 | $1.52 bn |
| Other flows - Different State | 547 | 1,118 | $28.4 m |
| Other flows - South | 366 | 770 | $18.9 m |
| Other flows - Same State | 126 | 216 | $6.0 m |
| Other flows - West | 117 | 223 | $5.1 m |
| Bernalillo County | 51 | 94 | $1.8 m |
| Lubbock County | 49 | 92 | $1.8 m |
| Other flows - Midwest | 44 | 92 | $2.3 m |
The largest single source of arrivals is Lea County Non-migrants, 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 the Lea County economy runs on
- 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 New Mexico counties2nd
- Rank by GDP among US county-equivalents363rd
- 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
Who employs people in Lea County
- Covered employment, annual average33,770
- Establishments reporting2,195
- Average annual pay$69,342
- Average weekly wage$1,333
- Sector 21, employment8,171
- Sector 21, average annual pay$101,206
- Sector 44-45, employment3,451
- Sector 44-45, average annual pay$36,639
- Sector 72, employment3,262
- Sector 72, average annual pay$25,301
- Sector 23, employment2,994
- Sector 23, average annual pay$75,775
- Sector 62, employment2,641
- Sector 48-49, employment2,075
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 21 | 8,171 | 358 | $101,206 |
| Sector 44-45 | 3,451 | 237 | $36,639 |
| Sector 72 | 3,262 | 166 | $25,301 |
| Sector 23 | 2,994 | 183 | $75,775 |
| Sector 62 | 2,641 | 153 | $50,915 |
| Sector 48-49 | 2,075 | 187 | $89,080 |
| Sector 56 | 1,451 | 101 | $52,064 |
| Sector 42 | 897 | 110 | $89,986 |
The largest sector is the biggest private employer group at 8,171 jobs, 24.2 percent of covered employment. Average pay per job exceeds median household income, which usually means single earner households and a wage base that can carry rent.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Lea County
What businesses operate 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.
US Census Bureau, County Business Patterns, 2023.
Lea County
What is being built in Lea County
- Housing units authorised by permit, 2024172
- Declared construction value permitted$51.9 m
- Single family units authorised172
- Multifamily units authorised0
- Multifamily share of units0.0 percent
- Average declared value per unit$301,457
- Units authorised per 1,000 households7.0
Multifamily is 0.0 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Lea County
How much SBA lending happens in Lea County
- 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$15,000
- 90th percentile approval$2,420,000
- 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)
- 7(a) share of SBA approvals95.1 percent
- Combined SBA approval dollars$62.8 m
The average approval of $630,359 sits well above the median of $155,000, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually 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
Do SBA loans in Lea County get paid back
- Loans with a final outcome recorded23
- Paid in full20
- Charged off3
- Charge off rate on resolved loans13.0 percent
- Status: Exempt from disclosure60
- Status: Paid in full20
- Status: Cancelled9
- Status: Charged off3
- Status: Committed, not yet disbursed5
| NAICS | Industry | Resolved loans | Charged off | Charge off rate |
|---|---|---|---|---|
| 213112 | Support Activities for Oil and Gas Operations | 12 | 0 | 0.0% |
Of the 23 loans that have reached a final outcome, 13.0 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong. Among industries with at least ten resolved loans, Support Activities for Oil and Gas Operations carries the highest charge off rate at 0.0 percent.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lea County
Which parts of Lea County get the lending
- Places in the county with recorded lending3
- Hobbs, approvals60
- Lovington, approvals36
- JAL, approvals1
| Place | 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 big 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 boundary3
- 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.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
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.
- Population73,733
- 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?
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 growing?
The population has grown 0.93 percent since the 2020 census base. 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 there 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 the average wage in Lea County?
Average annual pay is $69,342, or $1,333 a week, across 33,770 covered jobs. 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 totalling $61.1 m since FY2020, across 21 lenders, with a median approval of $155,000, plus 5 504 approvals worth $1.7 m. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Lea County get paid back?
Of the 23 loans that have reached a final outcome, 20 were paid in full and 3 charged off, a charge off rate of 13.0 percent. Loans still running are excluded, because they have not yet succeeded or failed.
What is being built in Lea County?
172 housing units were authorised 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 Lea County Non-migrants, with 22,757 households. Arriving households report an average income of $47,606 against null 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?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.