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These days, finding an affordable place to live in the Lubbock area can be challenging. Home prices in Lubbock are now at a median cost of $218,441, lower than the Texas average of $322,096.
The average cost of rent is $1,261/mo in Lubbock, primarily driven by the current value of real estate in the Lubbock area. In Lubbock, 46.85% of households rent, and 45.93% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lubbock is $6,326 per month. Households that rent pay about 19.93% of their income on rent here. Lubbock’s most expensive areas are in the southwestern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Wolfforth, TX: higher priced homes
- Shallowater, TX: less expensive homes
- Buffalo Springs, TX: higher priced homes
- West Carlisle, TX: less expensive homes
- Ransom Canyon, TX: higher priced homes
- Idalou, TX: less expensive homes
- Smyer, TX: less expensive homes
- Slaton, TX: less expensive homes
- Ropesville, TX: less expensive homes
- Opdyke, TX: less expensive homes
Cities with Similar Populations
- Slidell, LA: higher priced homes
- Shreveport, LA: less expensive homes
- Snellville, GA: higher priced homes
- Simpsonville, SC: higher priced homes
- Somerville, MA: higher priced homes
- Sioux City, IA: less expensive homes
- Sioux Falls, SD: higher priced homes
- Silver Spring, MD: higher priced homes
- Rancho Cordova, CA: higher priced homes
- Port Charlotte, FL: higher priced homes
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