Lubbock Texas Residential Rent and Rental Statistics
The median monthly gross residential rent in Lubbock, TX (the Lubbock metro area) was $959 in 2019 according to the Census ACS survey.1 Average gross rent in Lubbock was $953 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Lubbock median and average rent data will be released in September of 2021.
Data is also available below for Lubbock rental vacancy rates, Lubbock rent as a percent of median income and the fraction of renters in Lubbock.
Real Gross Rent in Lubbock Texas (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Texas Median Gross Rent | $1,091 | +2.44% | +8.99% |
| Lubbock, TX Median Gross Rent | $959 | +3.79% | +2.24% |
Lubbock, TX Real Gross Rent Trends
At $959, real median gross rent in Lubbock was at its highest level in 2019 since the series began in 2005. Average gross rent for Lubbock peaked in real terms in 2018 at $979 and is now $26 (2.66%) lower.
Real Gross Rent in Lubbock: Lubbock TX Median, Lubbock TX Average, Texas Median, US Median
Real Gross Rent History for Lubbock
| Date | US Median |
Texas Median |
Lubbock, TX Median |
Lubbock, TX Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,091 | $959 | $953 |
| 2018 | $1,077 | $1,065 | $924 | $979 |
| 2017 | $1,043 | $1,018 | $905 | $947 |
| 2016 | $1,027 | $1,001 | $938 | $953 |
| 2015 | $1,017 | $989 | $885 | $940 |
| 2014 | $986 | $946 | $863 | $913 |
| 2013 | $953 | $902 | $841 | $864 |
| 2012 | $940 | $884 | $841 | $858 |
| 2011 | $941 | $878 | $793 | $837 |
| 2010 | $955 | $895 | $846 | $865 |
| 2009 | $960 | $898 | $792 | $799 |
| 2007 | $927 | $862 | $856 | $818 |
| 2005 | $910 | $839 | $811 | $836 |
Lubbock Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Lubbock Texas was 9.31% according to Census ACS data.
Rental Vacancy Rate in Lubbock Texas
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Texas | 8.15% | -0.06% | +0.50% |
| Lubbock, TX | 9.31% | -0.72% | -1.63% |
Trends in Lubbock, TX Rental Vacancy Rate
The rental vacancy rate in Lubbock peaked in 2016 at 10.94%. Since then it has fallen by 1.63% to 9.31%. Data records for this series originated in 2005.
Rental Vacancy Rate: Lubbock TX, Texas, US
Historical Rental Vacancy Rate data for Lubbock
| Date | US | Texas | Lubbock, TX |
|---|---|---|---|
| 2019 | 5.97% | 8.15% | 9.31% |
| 2018 | 6.15% | 8.21% | 10.03% |
| 2017 | 6.18% | 8.49% | 9.12% |
| 2016 | 5.89% | 7.65% | 10.94% |
| 2015 | 5.85% | 6.95% | 6.57% |
| 2014 | 6.32% | 7.30% | 7.81% |
| 2013 | 6.49% | 7.86% | 9.04% |
| 2012 | 6.77% | 8.53% | 6.69% |
| 2011 | 7.40% | 9.23% | 6.84% |
| 2010 | 8.17% | 10.60% | 6.13% |
| 2009 | 8.43% | 10.69% | 9.64% |
| 2007 | 7.87% | 10.61% | 10.08% |
| 2005 | 7.74% | 10.60% | 8.42% |
Rent as a Fraction of Income
Using median household income data for Lubbock, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Lubbock, median monthly gross rent as a fraction of median household income was 21.08% in 2019 according to the ACS.
Lubbock Texas Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Texas | 20.45% | -0.26% | +0.16% |
| Lubbock, TX | 21.08% | -0.73% | -1.01% |
Trends in Lubbock, TX Rent as a Fraction of Income
The fraction of median Lubbock household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 22.78%. Since then it has fallen by 1.70% to 21.08%.
Fraction of Income towards Rent: Lubbock TX, Texas, US
Historical Data for Annual Rent as a Fraction of Income in Lubbock Texas
| Date | US | Texas | Lubbock, TX |
|---|---|---|---|
| 2019 | 20.03% | 20.45% | 21.08% |
| 2018 | 20.50% | 20.70% | 21.80% |
| 2017 | 20.13% | 20.00% | 22.29% |
| 2016 | 20.43% | 20.28% | 22.09% |
| 2015 | 20.63% | 20.10% | 21.16% |
| 2014 | 20.89% | 20.27% | 21.39% |
| 2013 | 20.78% | 19.89% | 20.33% |
| 2012 | 20.65% | 19.65% | 22.78% |
| 2011 | 20.70% | 19.75% | 20.33% |
| 2010 | 20.50% | 19.77% | 21.56% |
| 2009 | 20.12% | 19.59% | 21.30% |
| 2007 | 18.66% | 18.52% | 21.06% |
| 2005 | 18.89% | 19.11% | 22.36% |
Renter Fraction in Lubbock Texas
You can calculate the renter fraction in Lubbock in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Lubbock as a fraction of total Lubbock households. In 2019 42.86% of households were renters according to Census ACS data.
Lubbock Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Texas | 38.12% | -0.16% | -0.79% |
| Lubbock, TX | 42.86% | -0.43% | -0.95% |
Trends in the Lubbock, TX Renter Fraction
The Lubbock household renter fraction peaked in in 2017 at 46.63% and is now 3.77% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Lubbock TX, Texas, US
History of Lubbock Renter Fraction
| Date | US | Texas | Lubbock, TX |
|---|---|---|---|
| 2019 | 35.89% | 38.12% | 42.86% |
| 2018 | 36.05% | 38.28% | 43.29% |
| 2017 | 36.13% | 38.03% | 46.63% |
| 2016 | 36.88% | 38.91% | 43.81% |
| 2015 | 36.97% | 38.94% | 45.38% |
| 2014 | 36.90% | 38.84% | 43.69% |
| 2013 | 36.50% | 38.16% | 41.23% |
| 2012 | 36.09% | 37.72% | 43.00% |
| 2011 | 35.42% | 37.08% | 42.11% |
| 2010 | 34.65% | 36.42% | 42.02% |
| 2009 | 34.13% | 36.32% | 41.95% |
| 2007 | 32.80% | 34.82% | 39.43% |
| 2005 | 33.10% | 35.29% | 40.53% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
