Rent vs buy in Lubbock, TX
In Lubbock, Texas, typical rent is $1,315 /mo, and its typical home costs $210,957.
The difference is $1,945 over 7 years, making it a toss-up
Today's mortgage rate and a 20% down payment, plus Lubbock's usual rent and home value. The break-even point arrives in year 7.
Clearly labelled opinion with the math shown. These are estimates, not quotes. If you change a number, the stamp changes with it.
- Gap
- $2k after 7 years
- Break-even point
- year 7 when owning catches up
- The real cost of owning
- $2,050 /mo year 1, against $1,315 rent
Change my numbers
The stamp relies on two numbers: Lubbock's typical rent and home value. Change your rent, price or years, and the result can flip.
Do you have different numbers from the city's?
Enter the rent, price and down payment you want to use. The stamp shifts with them.
Is it cheaper to rent or buy in Lubbock?
Across 7 years the two paths land within $1,945 of one another, so small shifts decide the winner. In year 7, owning's net cost falls below renting's and remains lower.
Rent. Home ownership. Year-by-year net costs.
Lubbock: average rent compared with mortgage payments
Rent and the mortgage don't tell the whole story. Here are all monthly costs in year 1 at Lubbock's usual price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,315 | All of it, every month |
| Mortgage payment | $1,150 | $1,014 of it is interest in year 1 |
| Property tax | $276 | 1.57% of the value a year |
| Insurance | $154 | Census median for the city |
| Upkeep | $176 | 1% of the value a year |
| Owning, cash out | $1,756 | $136 of it builds equity |
| Lost return on the down payment | $343 | What the cash would earn in a year at 8.3% |
| Buying costs, spread out | $88 | 3.5% of the price over 7 years |
| True cost of owning | $2,050 | Cash paid, minus the equity portion, plus the two amounts above |
The figures behind Lubbock's verdict
- Typical home value Zillow ZHVI, September 2026
- $210,957
- Typical rent Zillow ZORI, September 2026
- $1,315 /mo
- Down payment of 20% means no private mortgage insurance, which the model here leaves out.
- 20%
- The mortgage rate Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Growth in home pricesFHFA house price index for Texas, 1995 to 2025
- 4.7% per year
- Growth in rents CPI rent of primary residence, 2006 to 2026, yearly growth
- 3.5% per year
- Return on savings 60% S&P 500 with dividends, plus 40% 10-year Treasuries, 1928 to 2025, rebalanced yearly
- 8.3% per year
- Property tax Census ACS 2020-2024, Lubbock
- 1.57% of the value
- Home insurance Census ACS 2020-2024, Lubbock
- $154 each month
- Maintenance Fannie Mae, low end of the 1% to 4% range
- 1% of value each year
- Buying costs Freddie Mac, the middle of the 2% to 5% range
- 3.5% of the price
- Selling costs Agent commission plus closing costs
- 6% of the price
What would change the result in Lubbock?
Each line shows where the 7-year result in Lubbock changes, while all other details stay the same.
Renting comes out ahead when
- We use 4.7% for Texas's long-run rate, and home prices grow more slowly than 4.6% a year.
- The mortgage rate remains above 7.40%.
- Monthly rent on this kind of home is less than $1,290 (typical here: $1,315).
- Moving before year 7.
When buying wins
- Home prices rise by more than 4.6% a year.
- You lock in a mortgage rate below 7.40% (right now it's 7.24%).
- The same home would cost more than $1,290 a month to rent.
- You remain there for 7 years or longer.
Lubbock compared with the other 812 cities
| Measure | Lubbock | Median city |
|---|---|---|
| Typical home value | $210,957 | $422,451 |
| Typical rent | $1,315 /mo | $1,837 /mo |
| Price-to-rent ratio | 13.4 (#710 of 813) | 18.5 |
| Home prices, last 10 years | 4.2% a year | 6.2% a year |
| Rents, last 5 years | 2.2% a year | 4% a year |
| Property tax | 1.57% | 0.87% |
| Households that rent | 49% | 42% |
Data from Zillow ZHVI plus ZORI, Census ACS 2020-2024.
More cities in Texas
- A toss-up, with renting ahead by $2k in Houston, TX.
- Renting leads by $10k in San Antonio, TX.
- Renting leads by $20k in Dallas, TX.
- Renting leads by $17k in Fort Worth, TX.
- Renting leads by $111k in Austin, TX.
- A toss-up, with buying ahead by $2k in El Paso, TX.
- Renting leads by $34k in Arlington, TX.
- Buying leads by $4k in Corpus Christi, TX.
- Renting leads by $105k in Plano, TX.
- Renting leads by $20k in Laredo, TX.
- Renting leads by $36k in Irving, TX.
- Renting leads by $12k in Garland, TX.