The rental market in Lubbock, TX is a vibrant and exciting place to live. With its growing population and diverse neighborhoods, there is something for everyone in Lubbock.
The city of Lubbock is home to Texas Tech University, a public research university. This university brings a wealth of culture and opportunity to the city and has created a large rental market in the area.
The best neighborhoods for rentals in Lubbock are the Tech Terrace, Overton, and Monterey neighborhoods. These neighborhoods are near the university and offer a variety of rental options from single-family homes to apartments and townhomes. They are also close to shopping, restaurants, and other attractions.
The average prices for rentals in Lubbock vary depending on the size and type of property. For example, a two-bedroom apartment in the Tech Terrace neighborhood typically rents for around $1,000 per month. A three-bedroom single-family home in the Overton neighborhood typically rents for around $1,500 per month.
The crime rate in Lubbock is slightly higher than the national average. However, it is still a safe city to live in and the crime rate is generally lower in the neighborhoods near the university
The average rental prices of apartments, townhouses, condos, lofts, and single family homes in Lubbock, TX vary depending on location, size, and amenities. In general, the average rental prices in Lubbock are as follows:
Apartments: $764/month
Townhouses: $1,084/month
Condos: $933/month
Lofts: $1,123/month
Single Family Homes: $1,259/month
Rental prices in Lubbock, TX have been steadily increasing over the past five years. According to Zillow, the median rent price in Lubbock in 2016 was $1,067 per month, while in 2021 the median rent price is $1,375 per month, representing a 28.7% increase in rent prices over the last five years.
According to Rent Jungle, the median rental prices for 1-bedroom, 2-bedroom, and 3-bedroom apartments in Lubbock, TX are $750, $995, and $1,150 respectively.
Lubbock Independent School District (LISD) is one of the largest school districts in Texas, serving approximately 41,000 students. LISD is highly rated, with a score of 87 (out of 100) from US News & World Report. The district also ranks highly in terms of student performance, with a graduation rate of 92.7%, well above the national average of 82%. The district also has a low dropout rate of just 2.5%, compared to the national average of 7.2%. In terms of resources, LISD spends an average of $9,937 per student, compared to the national average of $12,383. Overall, Lubbock school districts compare favorably to the rest of the United States.
1. Downtown
2. South Lubbock
3. Overton
4. Tech Terrace
5. Monterey
1. Kingsgate
2. Overton Park
3. Regal Park
4. University Park
5. Indian Hills