Rent, population, and median household income are important factors to consider for a 1031 exchange in Lubbock due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan area Area
Lubbock, Texas is a part of the Lubbock, TX metropolitan area area, and contains 26 zip codes, including: 79490, 79464, 79415, 79402, 79453, and 79416.
Lubbock Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lubbock, TX metropolitan area area was $785, which is 7.83% lower than 2014 average rent. This represents a compounded annual growth rate of 1.52%. 2019 vacancy in Lubbock, TX was 5.90%.
The total population of the city of Lubbock, TX has grown 11.46% since 2010. As of 2018, the population was 48,701. The median household income of the Lubbock was $255,885, which is 19.23% lower than the national average.
- metropolitan area area Lubbock, TX
- avg rent $785
- rent growth 7.83%
- vacancy 5.90%
- median income $255,885
- population (2018) 48,701
- population growth 11.46%
- vs. nat'l avg 19.23%
- zip codes 79401 79402 79403 79404 79406 79407 79408 79409 79410 79411 79412 79413 79414 79415 79416 79423 79424 79430 79452 79453 79457 79464 79490 79491 79493 79499
