Tech Terrace, Lubbock, TX—79410
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Tech Terrace, Lubbock, TX
As of Oct '25, the median home price in Tech Terrace, Lubbock, TX is $180,000, with a year-over-year change of -1.7%. This indicates that home prices in Tech Terrace, Lubbock, TX are decreasing. According to Zillow, the 1-year price projection is -1.3%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $180,000 | -1.7% |
| Single Family | $180,000 | -1.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $142,000 | -2.1% |
3 Bed | $187,000 | -2.1% |
4 Bed | $260,000 | -1.9% |
| 5 Bed | N/A | N/A |
% of Housing Stock
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.
| Type | Median Rent | Average 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 |
% of Rental Stock
Property Listings — Tech Terrace, Lubbock, TX
As of Oct '25, Realtor.com reports that the median days on market for a home in Tech Terrace, Lubbock, TX is 58. This is a decrease of -11.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $207,000 | -7.0% |
Listing Count | 71 | 0.0% |
| Listings as % of Homes | 0.4% | 0.0% |
Days on Market | 58 | -11.0% |
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.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 10,400 | 2.6% |
% Under 18 | 23.7% | 55.9% |
% Seniors | 11.7% | 5.4% |
% WFH | 6.5% | 182.6% |
% w/ College Degree | 47.2% | 22.3% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
Loan Activity
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 Size | HUD Premium | Market Rent | Max 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
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $180,000 |
| Median Household Income | $48,400 |