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  5. /Tech Terrace, Lubbock, TX - 79410

Tech Terrace, Lubbock, TX—79410

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$189,000
1.6% YoY Growth
Household Income
$48,400
19.5% YoY Growth
Days on Market
42
4.0% Shorter YoY
Home Price Forecast
-0.2%
Median Rent
$1,250
6.6% YoY Growth
1-Bed Rent
$650
8.8% YoY Growth
2-Bed Rent
$885
7.8% YoY Growth
3-Bed Rent
$1,450
3.2% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Tech Terrace, Lubbock, TX

As of May '26, the median home price in Tech Terrace, Lubbock, TX is $189,000, with a year-over-year change of -1.6%. This indicates that home prices in Tech Terrace, Lubbock, TX are decreasing. According to Zillow, the 1-year price projection is -0.2%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$189,000-1.6%
Single Family $189,000-0.5%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$148,000-3.9%
    3 Bed
    		$196,000-0.5%
    4 Bed
    		$272,0000.7%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    2.0%
    1 Bedroom
    8.6%
    2 Bedrooms
    31.7%
    3 Bedrooms
    47.2%
    4 Bedrooms
    9.9%
    5+ Bedrooms
    0.5%

    Rental Trends — Tech Terrace, Lubbock, TX

    As of July '25, Rentcast reports the average rent in Tech Terrace, Lubbock, TX is $1,280, with a year-over-year rent change of -6.6%. Per bedroom, the median rent as of July '25 in Tech Terrace, Lubbock, TX is studios: $700, 1-bedrooms: $680, 2-bedrooms: $977, 3-bedrooms: $1,500, 4-bedrooms: $1,930. The most common rental property sizes in Tech Terrace, Lubbock, TX are 3-bedroom and 2-bedroom, accounting for 38.0% and 36.0% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,250$1,280
    Studio Rent $700$700
    1 Bed Rent $650$680
    2 Bed Rent $885$977
    3 Bed Rent $1,450$1,500
    4 Bed Rent $2,000$1,930
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    % of Rental Stock

    Studio
    3.0%
    1 Bedroom
    13.3%
    2 Bedrooms
    36.0%
    3 Bedrooms
    38.0%
    4 Bedrooms
    9.6%

    Property Listings — Tech Terrace, Lubbock, TX

    As of May '26, Realtor.com reports that the median days on market for a home in Tech Terrace, Lubbock, TX is 42. This is a decrease of -4.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 15.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$234,000-9.0%
    Listing Count
    		816.0%
    Listings as % of Homes0.4%6.0%
    Days on Market
    		42-4.0%
    Loading chart...

    Demographics — Tech Terrace, Lubbock, TX

    As of the latest ACS Survey released in 2023, Tech Terrace, Lubbock, TX has a population of 10,400, which has increased by 2.6% over the past 5 years. Tech Terrace, Lubbock, TX is a moderately popular place for families, as children make up 23.7% of the population. The area has a highly educated workforce, with 47.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.5% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		10,4002.6%
    % Under 18
    		23.7%55.9%
    % Seniors
    		11.7%5.4%
    % WFH
    		6.5%182.6%
    % w/ College Degree
    		47.2%22.3%
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    As of the latest ACS Survey released in 2023, Tech Terrace, Lubbock, TX is a predominantly white area, with 55.5% of the population identifying as white. The white population has shrunk by 19.1% in the last 5 years. The second most common race or ethnicity in Tech Terrace, Lubbock, TX is hispanic, making up 33.0% of the population. Foreign-born residents account for 5.6% of the population in Tech Terrace, Lubbock, TX, and this percentage has decreased by 3.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		55.5%-19.1%
    % Black
    		8.5%142.9%
    % Hispanic
    		33.0%38.7%
    % Asian
    		4.1%105.0%
    % Foreign Born
    		5.6%-3.4%
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    Mortgage and Risk — Tech Terrace, Lubbock, TX

    According to HUD data as of 2023, there were 118 mortgage originations in Tech Terrace, Lubbock, TX, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Tech Terrace, Lubbock, TX. Investor activity is high, as 24.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		118
    % Conventional Loans
    		81.0%
    % Government Loans
    		19.0%
    % Investor Loans
    		24.0%
    % Second Loans
    		9.0%
    % Cash Out Refinance
    		9.0%
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    Rentals and Section 8 — Tech Terrace, Lubbock, TX

    As of 2024, the percent of homes in Tech Terrace, Lubbock, TX under the Section 8 program is 1.3%. 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 Tech Terrace, 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
    		36
    Total Units Section 8
    		36
    % Rentals under Section 8
    		1.3%
    % Occupied Section 8
    		83.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$550$650$1,200
    2 Bedroom$535$885$1,420
    3 Bedroom$520$1,450$1,970
    4 Bedroom$320$2,000$2,320

    Affordability — Tech Terrace, Lubbock, TX

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.8
    Median Home Price$189,000
    Median Household Income$48,400

    Tech Terrace, Lubbock, TX — ZIP Code Boundary Map

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    Frequently Asked Questions