Sell My House Fast in Lubbock, Texas with an iBuyer

Lubbock Real Estate Market Overview

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Location and Weather

The suburban city of Lubbock is located in the northwestern region of Texas. Nicknamed the “Hub City”, Lubbock is an economic, education, and health care center of the South Plains. It is also the 11th most populous city in Texas, and is historically known as Llano Estacado. City parks, golf courses, breweries, hiking trails, museums and music venues line the streets, making this another Texan city perfect for those interested in small-town charm.

Temperatures here are warm, but manageable. Average high temps are in the 90s and cold temperatures drop to the 20s during winter. There are also around 7 inches of snow per year.

Population, Job Market and Cost of Living

Lubbock’s population is 266,041, with a growth rate of 0.91% annually. The job market has increased by 2.4% over the last year. In ten years, job growth is predicted to be 39.8%. This city was named the 12th Best Place to Start a Small Business by, due to its economic climate, inexpensive commercial real estate, and central location.

Lubbock is also home to Texas Tech University and Lubbock Christian University, driving a large education industry here as well. Lubbock is an affordable place to live in Texas, and has very affordable housing.

Hottest Neighborhoods:

Reunion Park/Lakewood Estates, Fountain Hills/Fountain Hill Estates, Windsor Park, Melonie Park

Average Monthly Rent in Lubbock

The average monthly rent in Lubbock is $1,030 for an average apartment size of 918 sq. feet.

Change in Home Value and Median Home Value

There has been a 22.2% increase in Lubbock’s median home value over the last year. As of 2022, the median home value is $235,000.

Affordability Index

The affordability index in Lubbock is 159. This number indicates high affordability in this city.

Lubbock Public School Ranking

The top ranked public schools are Crestview Elementary, Wilson Elementary, Talkington School for Young Women Leaders, Honey Elementary, Smith Elementary, Hutchinson Middle, and Oak Ridge Elementary. This information derives from data from The U.S. Department of Education, The U.S. Census Bureau and the Texas Education Agency.

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