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A man of a certain age, starting from 30, who still lives with his mother and could not make it on his own for more than two years at a time without moving back in. Also refers to guys who don't have a job and live with their mother for the free ride, sucking her pension funds dry.
Example #1;

Girl #1: "So how is dating that Dan guy going for you?"

Girl #2: "Well I dumped him... I found out he's nothing but your run-of-the-mill basement hobbit."

Example #2;

Girl #1: "Wayne always has something to b*tch about... yesterday he complained about his mom not giving him money for smokes"

Girl #2: " What in Hell does he have to bitch about? He doesn't work and he lives with his mom... and he's well over 30. He's such a basement hobbit".
by ~BluntBitch~ July 22, 2009
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