The housing market in the Lubbock, TX Metro Area is booming. The median value of a home in this area is $189,300, much lower than the national median of $338,100. However, the one-year appreciation rate for homes in Lubbock is an impressive 15.89%, significantly higher than the national rate of 8.27%. This indicates that housing values are increasing rapidly due to a growing demand from buyers and investors. With housing prices remaining relatively low compared to other parts of the country and an increasing appreciation rate, the Lubbock housing market looks to be a strong investment opportunity for those looking to buy or invest in real estate.
The median home cost in Lubbock Metro Area is $189,300. Home appreciation the last 10 years has been 79.8%. Home Appreciation in Lubbock Metro Area is up 16.3%.
Average Age of Homes
- The median age of Lubbock Metro Area real estate is 39 years old
The Rental Market in Lubbock Metro Area
- Renters make up 38.1% of the Lubbock Metro Area population
- 3.8% of houses and apartments in Lubbock Metro Area, 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.