Cost of Living in Lubbock, Texas
In Lubbock, the median household income is $60,895 and the median gross rent is $1,182/mo, with a median home value of $212,400. Source: Census Bureau ACS, 2020-2024 estimates.
- Median household income
- $60,895
- Median gross rent
- $1,182/mo
- Median home value
- $212,400
- Population
- 264,814
How Lubbock compares to the Texas average
| Measure | Lubbock, TX | Texas statewide | Difference |
|---|---|---|---|
| Median household income | $60,895 | $78,476 | -22.4% |
| Median gross rent (monthly) | $1,182 | $1,403 | -15.8% |
| Median home value | $212,400 | $283,800 | -25.2% |
Statewide, Texas prices average 97.1 on the BEA Regional Price Parity index (2024), where the U.S. average is 100.
Housing affordability in Lubbock
- Salary needed for median rent
- $47,280
- Rent burden at median income
- 23.3%
- Est. affordable home price
- $222,141
So that $1,182/mo is 30% of gross income
Share of the median household income spent on median rent (30%+ = cost-burdened)
At median income, 6.67% 30-yr rate (FRED, 2026-08), 20% down, 28% front-end DTI
The median home value in Lubbock is $212,400 — within what the median household income supports under these assumptions.
Estimates from documented formulas — see methodology. Not financial advice.
Cost of living in other Texas cities
About this data
- American Community Survey 5-Year Estimates — data period 2020-2024, retrieved August 13, 2026.
- Regional Price Parities — data period 2024, retrieved August 13, 2026.
- Federal Reserve Economic Data — data period 2026-08, retrieved August 13, 2026.
Figures are shown exactly as published by the source or derived by the documented formulas on our methodology page. Where a source suppresses an estimate, we show “—” rather than a substitute value.