Rent in Lubbock Remains Steady Compared to Texas Growth
Apartment List has released their January 2020 Rent Report showing Lubbock has remained fairly steady during the last month despite the uptick in the rest of the state of Texas.
"Lubbock rents have remained steady over the past month, but are down moderately by 0.6% year-over-year. Currently, median rents in Lubbock stand at $657 for a one-bedroom apartment and $816 for a two-bedroom. Lubbock's year-over-year rent growth lags the state average of 1.5%, as well as the national average of 1.4%.,"according to the report.
The report also states that "while rent decreases have been occurring in the city of Lubbock over the past year, cities in the rest of the state are seeing the opposite trend. Rents have risen in all of the largest 10 cities in Texas for which we have data. The state as a whole logged rent growth of 1.5 percent over the past year. Here's a look at how rents compare across some of the largest cities in the state."
- Plano is the most expensive of all Texas' major cities, with a median two-bedroom rent of $1,472; of the 10 largest Texas cities that we have data for, all have seen rents rise year-over-year, with Austin experiencing the fastest growth (+3.1%).
- Plano, Dallas, and Arlington have all experienced year-over-year growth above the state average (2.5%, 2.2%, and 2.2%, respectively).
For more information about the methodology or to view the full report, click here.