Downtown, Lubbock, TX—79401
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Downtown, Lubbock, TX
As of Oct '25, the median home price in Downtown, Lubbock, TX is $143,000, with a year-over-year change of -6.3%. This indicates that home prices in Downtown, Lubbock, TX are decreasing. According to Zillow, the 1-year price projection is -0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $143,000 | -6.3% |
| Single Family | $135,000 | -5.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $124,000 | -7.5% |
3 Bed | $150,000 | -5.1% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Downtown, Lubbock, TX
As of July '25, Rentcast reports the average rent in Downtown, Lubbock, TX is $1,110, with a year-over-year rent change of 9.9%. Per bedroom, the median rent as of July '25 in Downtown, Lubbock, TX is studios: $425, 1-bedrooms: $815, 2-bedrooms: $1,080, 3-bedrooms: $1,520, 4-bedrooms: $1,560. The most common rental property sizes in Downtown, Lubbock, TX are 1-bedroom and 2-bedroom, accounting for 40.6% and 22.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $975 | $1,110 |
| Studio Rent | $425 | $425 |
| 1 Bed Rent | $649 | $815 |
| 2 Bed Rent | $1,000 | $1,080 |
| 3 Bed Rent | $1,600 | $1,520 |
| 4 Bed Rent | $1,750 | $1,560 |
% of Rental Stock
Property Listings — Downtown, Lubbock, TX
As of Oct '25, Realtor.com reports that the median days on market for a home in Downtown, Lubbock, TX is 113. This is a increase of 28.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $211,000 | 3.0% |
Listing Count | 18 | 0.0% |
| Listings as % of Homes | 0.2% | 0.0% |
Days on Market | 113 | 28.0% |
Demographics — Downtown, Lubbock, TX
As of the latest ACS Survey released in 2023, Downtown, Lubbock, TX has a population of 8,640, which has increased by 4.2% over the past 5 years. Downtown, Lubbock, TX is a less popular place for families, as children make up 6.3% of the population. The area has a moderately educated workforce, with 25.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,640 | 4.2% |
% Under 18 | 6.3% | -37.6% |
% Seniors | 3.7% | 94.7% |
% WFH | 7.6% | 985.7% |
% w/ College Degree | 25.6% | 18.5% |
As of the latest ACS Survey released in 2023, Downtown, Lubbock, TX is a predominantly white area, with 46.5% of the population identifying as white. The white population has shrunk by 10.1% in the last 5 years. The second most common race or ethnicity in Downtown, Lubbock, TX is hispanic, making up 37.4% of the population. Foreign-born residents account for 10.9% of the population in Downtown, Lubbock, TX, and this percentage has decreased by 7.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 46.5% | -10.1% |
% Black | 8.3% | -18.6% |
% Hispanic | 37.4% | 18.4% |
% Asian | 5.3% | 47.2% |
% Foreign Born | 10.9% | -7.6% |
Mortgage and Risk — Downtown, Lubbock, TX
According to HUD data as of 2023, there were 37 mortgage originations in Downtown, Lubbock, TX, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 80.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Downtown, Lubbock, TX. Investor activity is high, as 54.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 37 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 54.0% |
% Second Loans | 11.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Downtown, Lubbock, TX
As of 2024, the percent of homes in Downtown, Lubbock, TX under the Section 8 program is 3.8%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Downtown, Lubbock, TX, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 117 |
Total Units Section 8 | 117 |
% Rentals under Section 8 | 3.8% |
% Occupied Section 8 | 84.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $351 | $649 | $1,000 |
| 2 Bedroom | $190 | $1,000 | $1,190 |
| 3 Bedroom | $60 | $1,600 | $1,660 |
| 4 Bedroom | $190 | $1,750 | $1,940 |
Affordability — Downtown, Lubbock, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.7 |
| Median Home Price | $143,000 |
| Median Household Income | $27,300 |