There are currently 76,732 real estate properties in Lubbock, TX, with a median automated valuation model (AVM) price of $177,400.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Lubbock, TX, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Lubbock, TX, is $200,653.00, with the most expensive house in Lubbock, TX, topping out at $5,599,100.00 and the cheapest home in Lubbock, TX, clocking in at $21,000.00. In other words, there’s something for every potential homebuyer or savvy investor in Lubbock, TX!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Lubbock, TX, is on a rollercoaster ride. The average rent price in Lubbock, TX, is $1,340.00. Indeed, when looking to rent in Lubbock, TX, you can expect to pay as little as $430.00 or as much as $3,840.00, with the average rent median estimated to be $1,230.00. The good news is that finding an affordable and desirable property to rent in Lubbock, TX -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Lubbock, TX area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Lubbock, TX and much more. Save thousands at closing with home foreclosure listings in Lubbock, TX — up to 75% off market value!
Lubbock is located in Lubbock, Texas, with an estimated municipal population of 258,862 residents. All of the best foreclosed homes for sale in Lubbock are located in the following zip code areas on Foreclosure.com: 79406 79423 79424 79416 79412 79413 79410 79411 79414 79404 79407 79401 79403 79415 79402 79408 79409 79430 79452 79453 79457 79464 79490 79491 79493 79499. The estimated population per square kilometer (.62 miles) in Lubbock is 741.
So, about how much do homes cost in Lubbock? The most recent median value of resident-owned homes in Lubbock is 137,823. An estimated 51.2 percent of households in Lubbock own their homes, with an average family size of 3.16. The median household income in Lubbock is 50,453, with21.6 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Lubbock, the median commute time of resident workers (in minutes) is 16.6. And last, but certainly not least, are you looking for homes to rent in Lubbock? If so, the average rent price paid by renters in Lubbock is 955, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Lubbock, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Lubbock is 29.6, split between 49.3 percent male versus 50.7 female. The percentage of residents who report being married in Lubbock is 40.7, with an average family size of 3.16.
The percentage of residents who report their race in Lubbock is as follows:
|Black / African American||7.8%|
|American Indian / Alaskan Native||1.1%|
|Native Hawaiian / Other Pacifc Islander||0.1%|
Looking for family-friendly neighborhoods in and/or near Lubbock? Or maybe you are searching for 55+ active adult communities in and/or near Lubbock?
The percentage of residents who report their age in Lubbock is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Lubbock with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Lubbock.
How do you know that living in -- or moving to -- Lubbock is right where you need to be? Perhaps you grew up in Lubbock or already live nearby; therefore, the decision to buy a home in Lubbock is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Lubbock for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Lubbock:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Lubbock.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Lubbock can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Lubbock, meanwhile, can field multiple offers from more qualified buyers.