Cost of Living in Lubbock, TX
Housing
The housing market plays a significant role in determining the cost of living in Lubbock, TX.
- Housing Index: 98.2 / 100
- Median Home Price is: $232,000
- Average Rent (2 BR Apartment): $1563 per month
- Average Rent (2 BR House): $1699 per month
Considering the housing market in Lubbock, TX, it's evident that the housing index stands at 85.0, reflecting a moderately affordable environment compared to national averages. With a median home price of 232000, purchasing property seems viable for first-time buyers or families. For renters, the average rent for a 2-bedroom apartment is 1563 and 1699 for a house. This suggests a competitive rental market, but still managed affordability. It's also wise to consider job opportunities and amenities in the area, which can greatly influence your decision to move within or outside Lubbock.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Lubbock, TX.
- Electricity Price: $14.47 USD (median by state)
- Natural Gas Price: $26.29 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $235 per month
Living in Lubbock, TX could entail higher utility costs. Electricity costs sit at $14.47, while natural gas is priced at $26.29 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $235 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Lubbock is a financially viable option for your relocation.