Wheelock and Monterey, Lubbock, TX—79413
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Wheelock and Monterey, Lubbock, TX
As of Oct '25, the median home price in Wheelock and Monterey, Lubbock, TX is $189,000, with a year-over-year change of -2.2%. This indicates that home prices in Wheelock and Monterey, Lubbock, TX are decreasing. According to Zillow, the 1-year price projection is -1.2%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $189,000 | -2.2% |
| Single Family | $189,000 | -2.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $118,000 | -2.5% |
3 Bed | $189,000 | -2.1% |
4 Bed | $260,000 | 0.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Wheelock and Monterey, Lubbock, TX
As of July '25, Rentcast reports the average rent in Wheelock and Monterey, Lubbock, TX is $1,290, with a year-over-year rent change of -5.8%. Per bedroom, the median rent as of July '25 in Wheelock and Monterey, Lubbock, TX is studios: $500, 1-bedrooms: $634, 2-bedrooms: $998, 3-bedrooms: $1,450, 4-bedrooms: $1,790. The most common rental property sizes in Wheelock and Monterey, Lubbock, TX are 3-bedroom and 2-bedroom, accounting for 34.7% and 33.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,250 | $1,290 |
| Studio Rent | $500 | $500 |
| 1 Bed Rent | $599 | $634 |
| 2 Bed Rent | $999 | $998 |
| 3 Bed Rent | $1,400 | $1,450 |
| 4 Bed Rent | $1,800 | $1,790 |
% of Rental Stock
Property Listings — Wheelock and Monterey, Lubbock, TX
As of Oct '25, Realtor.com reports that the median days on market for a home in Wheelock and Monterey, Lubbock, TX is 55. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $191,000 | -8.0% |
Listing Count | 142 | 2.0% |
| Listings as % of Homes | 0.7% | 2.0% |
Days on Market | 55 | 0.0% |
Demographics — Wheelock and Monterey, Lubbock, TX
As of the latest ACS Survey released in 2023, Wheelock and Monterey, Lubbock, TX has a population of 23,500, which has increased by 5.8% over the past 5 years. Wheelock and Monterey, Lubbock, TX is a popular place for families, as children make up 28.2% of the population. The area has a moderately educated workforce, with 34.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,500 | 5.8% |
% Under 18 | 28.2% | 11.9% |
% Seniors | 13.0% | -16.1% |
% WFH | 10.2% | 537.5% |
% w/ College Degree | 34.7% | 5.8% |
As of the latest ACS Survey released in 2023, Wheelock and Monterey, Lubbock, TX is a predominantly white area, with 54.0% of the population identifying as white. The white population has shrunk by 12.9% in the last 5 years. The second most common race or ethnicity in Wheelock and Monterey, Lubbock, TX is hispanic, making up 34.3% of the population. Foreign-born residents account for 2.9% of the population in Wheelock and Monterey, Lubbock, TX, and this percentage has decreased by 14.7% 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 | 54.0% | -12.9% |
% Black | 6.1% | 41.9% |
% Hispanic | 34.3% | 14.0% |
% Asian | 1.0% | -47.4% |
% Foreign Born | 2.9% | -14.7% |
Mortgage and Risk — Wheelock and Monterey, Lubbock, TX
According to HUD data as of 2023, there were 290 mortgage originations in Wheelock and Monterey, Lubbock, TX, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 78.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Wheelock and Monterey, Lubbock, TX. Investor activity is low, as 13.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 290 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 13.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Wheelock and Monterey, Lubbock, TX
As of 2024, the percent of homes in Wheelock and Monterey, 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 Wheelock and Monterey, 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 | 218 |
Total Units Section 8 | 142 |
% Rentals under Section 8 | 3.8% |
% Occupied Section 8 | 90.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $591 | $599 | $1,190 |
| 2 Bedroom | $411 | $999 | $1,410 |
| 3 Bedroom | $560 | $1,400 | $1,960 |
| 4 Bedroom | $500 | $1,800 | $2,300 |
Affordability — Wheelock and Monterey, Lubbock, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $189,000 |
| Median Household Income | $67,100 |