The typical home in Lubbock, TX is worth about $215,000.
With 20% down that's a loan near $172,000 — the calculator
is pre-filled with that figure. Texas Tech University anchors Lubbock's economy on the South Plains, with home prices among the lowest of any major Texas metro. As across Texas, the absence of a state income tax means schools and counties lean heavily on property tax, producing a high effective rate despite the modest prices.
$1,116.73 / month
Total interest
$230,025
Total paid
$402,025
Payoff
30.0 years
How much you need to earn
Lubbock, TX's median household income is about
$58,000 a year. Under standard 28/36
lending rules that supports a home price around
$150,237 with 20% down —
below the $215,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.
Typical asking rent in Lubbock, TX is about $1,100 a month, so owning the median home costs roughly
$674 more per month before tax
effects, maintenance, and any change in home value.
Frequently asked questions
What is a typical mortgage payment in Lubbock, TX?
On the metro's roughly $215,000 typical home with 20% down, the loan is about $172,000. Principal and interest run near $1,117 a month at today's rate, and Lubbock, TX's property tax plus insurance add about $657, for a full payment near $1,774.
Can I afford a home in Lubbock, TX on the median income?
The median household income is about $58,000 a year. Under standard 28/36 lending rules that supports a home price around $150,237 with 20% down — below the $215,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Lubbock, TX?
Typical asking rent is about $1,100 a month. The full owner payment on a median home is near $1,774, so owning costs roughly $674 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Lubbock, TX?
The effective property tax rate in the core county is about 1.90% of market value — roughly $4,085 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Lubbock, TX rising or falling?
Home values are roughly flat over the past year. Texas Tech University anchors Lubbock's economy on the South Plains, with home prices among the lowest of any major Texas metro. As across Texas, the absence of a state income tax means schools and counties lean heavily on property tax, producing a high effective rate despite the modest prices.