Lubbock, Texas Housing Market

What stands out in Lubbock?

• Prices were above the year before in 57% of months: among the least consistent price growth of 765 tracked cities. Price growth here is unreliable. Do not count on it.
• The median asking price is $224,289: one of the cheapest of 765 tracked cities. Low entry prices help cash flow, but check what keeps them low before you buy.
• Asking price per square foot has moved +0.3% a year over five years: among the weakest five-year price growth of 765 tracked cities. Appreciation has been weak, so buy for cash flow.

How deep is Lubbock's renter pool?

46% of occupied homes in Lubbock's ZIP codes are rented, more than in 81% of the cities we track. HUD's county-wide fair market rent for 2 bedrooms is $1,175 a month, including utilities. A deep renter pool shortens vacancy. It also means you compete with other landlords on condition and price.

What is the fair market rent in Lubbock?

HUD sets one fair market rent for Lubbock County. For fiscal year 2026:

• 1 bedroom: $990 a month. Down 2% on last year, up 58% since FY2016.
• 2 bedrooms: $1,175 a month. Down 1% on last year, up 47% since FY2016.
• 3 bedrooms: $1,634 a month. Down 1% on last year, up 40% since FY2016.
• 4 bedrooms: $1,940 a month. Down 0% on last year, up 39% since FY2016.

The figures include tenant-paid utilities and apply to all of Lubbock County, so one home's rent can sit well above or below them. See fair market rent by city.

Who will rent from you in Lubbock?

In Lubbock, 46 out of every 100 households rent. That is nearly half. That share has held steady for five years. Lubbock added about 5,700 renter households in five years. Renter households average 2.2 people. Two and three bedrooms fit the typical renter.

Households grew 12% in five years. The housing stock grew 10%. Demand is outrunning supply. 9.5% of homes sit empty. That is normal for a healthy market.

The median Lubbock household earns $66,857 a year. Incomes here have grown 4.0% a year since 2019. Incomes are rising faster than home prices. Affordability is improving. A typical home costs 3.4 times the median income. Locals can afford to buy here. Your exit buyer can be a local family. At 30% of income, a tenant on the median income can pay about $1,671 a month.

To see what one Lubbock address would rent for and cash flow, run it through the app.

How does Lubbock compare with other Texas markets?

Ranked among the 77 Texas markets we track:

• Asking price: 3rd cheapest of 77. Lubbock is at $224,289. Closest: Killeen and Pharr.
• Buyer competition: 31st most competitive of 67. Lubbock is at 0.30 buyers per home. Closest: Pearland and Rockwall.
• Time on market: 6th shortest time on market of 77. Lubbock is at a median of 49 days on market. Closest: Keller and Lewisville.
• Price cuts: 24th fewest price cuts of 77. Lubbock is at 21% of sellers cutting. Closest: Victoria and Wichita Falls.

Is now a good time to buy in Lubbock?

The median asking price is 32.7% below its Mar 2022 peak. Per square foot the gap is smaller: 13.6% below the Mar 2022 high. Part of the drop is smaller homes coming to market. Prices stopped falling about a year ago. They are flat now. Waiting will not get you a cheaper house. It might still get you a more motivated seller. Lubbock prices rose in only 63 of the last 111 months. This market goes up and down. Timing matters here. Growth will not rescue a bad price.

The discount is already here. It is not getting bigger. Buy now while sellers are still weak. Waiting for a lower price stopped working a year ago.

What numbers should you underwrite a Lubbock deal with?

• Price growth to assume — +0.3%/yr. Lubbock grew 3.2% a year over the decade. Ignore that rate. Most of it landed in the 2020 and 2021 boom. Without the boom, Lubbock prices are flat. Assume no growth. Prices fell 1.4% over the last year. Use it for timing. The five-year rate is the better guide.
• Comp on price per square foot — $134/sqft. The typical Lubbock listing shrank from 2,333 to 1,857 sqft since Jul 2016. So median price hides real growth: 34% per sqft versus 1% on the median. Comp on median price and you will overpay for small homes.
• Competition when you exit — -6%. Homes for sale in Lubbock are down 6% on last year, so your resale faces less competition than today's comps did.

Read when a cheap market is a warning and how we read these numbers, then run the numbers on a deal.

What is the median home price in Lubbock?

The median asking price in Lubbock is about $224,000 as of Sep 2026, down 3.4% from a year ago. This is the asking price on homes listed for sale. Sites that report sold prices or estimated home values will show a different number. Our Lubbock figures cover the 25 ZIP codes with a Lubbock mailing address, which can reach past city limits.

Is Lubbock a buyer's or seller's market in 2026?

Buyers have more room in Lubbock than usual. We compare Lubbock with 2017–2019 at this time of year: there are 30 pending sales per 100 listings, against 44 then; there are 38% more homes for sale; 21% of sellers have cut their price, against 17% then.

Are Lubbock home prices going up or down?

The median asking price is 32.7% below its Mar 2022 peak. Per square foot the gap is smaller: 13.6% below the Mar 2022 high. Part of the drop is smaller homes coming to market. Prices stopped falling about a year ago. They are flat now. Waiting will not get you a cheaper house. It might still get you a more motivated seller.

Which Lubbock ZIP code has the most negotiating room?

79411. Only 10 homes under contract for every 100 still for sale. 21% of sellers there have cut their price, and listings there spend a median 54 days on the market.

What is the best month to buy a house in Lubbock?

Across 9 full years, Lubbock asking prices ran lowest in December, about 5.4% below the year's average. They peaked in May. The most homes for sale show up in August, about 12% above the yearly average.

What is the fair market rent in Lubbock?

HUD's fiscal year 2026 fair market rent for Lubbock County is $1,175 a month for 2 bedrooms and $1,634 for 3 bedrooms. The figures include tenant-paid utilities and cover the whole county.