The housing market in Lubbock, TX is a great option for anyone looking to purchase a home. The median value of housing in the area is $200,600, which is significantly lower than the US median of $338,100. Additionally, homes in Lubbock have seen a greater appreciation rate over the past year than the national average with an increase of 12.19%, compared to just 8.27% nationally. This makes Lubbock a great place to invest in real estate as you can get more house for your money and expect it to appreciate at a faster rate than many other areas in the country.
The median home cost in Lubbock is $200,600. Home appreciation the last 10 years has been 77.2%. Home Appreciation in Lubbock is up 15.9%.
Average Age of Homes
- The median age of Lubbock real estate is 39 years old
The Rental Market in Lubbock
- Renters make up 42.2% of the Lubbock population
- 4.4% of houses and apartments in Lubbock, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.