The cost of living in Lubbock is a prime question for new residents. Thankfully, the answer is also what attracts many people to the city.
Lubbock’s cost of living is lower than many more popular alternatives in Texas. The city is quickly growing and continues to offer new amenities and attractions for residents.
Is Living In Lubbock Expensive?
Lubbock continually ranks as one of the cities with the lowest cost of living in Texas. Even compared to similar-sized cities such as Abilene and Amarillo, Lubbock offers a better cost of living and similar economic advantages.
While this doesn’t wholly answer whether Lubbock is expensive to live in, it does provide a comparison to other similar-sized cities in the state.
As to whether it is expensive to live in Lubbock, I can only provide my personal experience. As everywhere in the United States, the cost of living in Lubbock is increasing.
However, the price of everything from rental to food, transportation, and utilities has remained relatively low compared to other more expensive cities in the US. I’ve also heard from many of my tenants and others in the town that wages have been steadily increasing at most jobs, helping to compensate for the rising cost of living…
My experience has been that Lubbock is relatively cheap and offers increasing economic opportunities as the city grows.
Breakdown of The Cost Of Living In Lubbock
Now that I’ve shared my experience of living in Lubbock let’s examine some cost-of-living data to better understand how Lubbock might compare to your current city.
Not all of these numbers are readily available, so I’ve done my best to compile as many as possible from trustworthy sources to paint a more complete picture.
Housing Expenses In Lubbock
Housing costs have been increasing in Lubbock, albeit at a steady pace. Even with the rise in renting and buying costs, Lubbock still has much lower rates than the national average and is a steal compared to housing costs in major cities like San Francisco or even other cities in Texas like San Antonio.
Cost of buying a home in Lubbock
According to real estate website Zillow, the average home value in Lubbock is $204,532. This has remained the average cost year over year, with prices neither moving upward nor falling.
The median sales price for homes in Hub City was $219,167 as of January 2024, with over 69% of sales coming in under the list price.
Cost of monthly rents in Lubbock
Apartment rental website Rent Cafe lists Lubbock as one of the cheapest cities to live in the US, with rental prices 16% lower than the national average and just 1% higher than the state average.
According to Rent Cafe, the average apartment price in Lubbock was $1,140 for a two-bedroom apartment.
Cost of Utilities
The cost of utilities in Lubbock is hard to pin down as of 2024, owing to the current changes in the utilities landscape.
Before 2024, all utilities were handled by Lubbock Power & Light and the City of Lubbock Utilities, but the electric market opened to competition in March of 2024.
Because of this, the city’s average electric costs are not yet final. To better understand what companies charge, check out our guide to the various electric providers operating in Lubbock and their charges.
For the cost of other utilities, you can check out the City of Lubbock Utilities website to better understand current utility prices. Remember that these are subject to change and may not be accurately reflected on the city’s website.
Price of Groceries In Lubbock
The cost of groceries in Lubbock is slightly higher than the state average and lower than the national average, according to 24/7 Wall Street, a financial news and opinion website.
Lubbock’s food cost for a single adult is $3,048 on average and $8,804 on average for a family of four. This is over 5% lower than the national average for a single individual and over 6% lower than the national average for a family of four.
Transportation Expenses
Transportation options are limited in Lubbock. For people moving from cities that offer robust public transportation, you should know that buying a car is a must within Lubbock.
While a public bus system and other options, such as Uber, exist, these options are limited or cost-prohibitive over the long run.
Public transportation costs
Citibus is the primary public transportation system within Lubbock. While there are routes throughout the city, many outer areas are underserved, making public transportation less reliable the further outside of Lubbock you live.
The cost of Citibus is $3.50 for a day pass, $14.50 for a weekly pass, and $50 for a monthly pass. These prices are accurate as of March 2024.
What Are Salaries Like In Lubbock?
As of March 2024, the average salary in Lubbock was over $45,000. The median household income was over $60,000. While Lubbock is not at the top of the list for household income, the lower living costs ensure a high quality of life for the average Lubbockite.
The job market in Lubbock is quite robust, with plenty of high-paying positions. These jobs are primarily concentrated in the education, medicine, and agriculture sectors.
However, plenty of job opportunities are created each year as new companies relocate to the city, further supporting individuals’ high standard of living.
One example is the Leprino Foods factory, which is expected to open in late 2024 and add over 600 jobs to the area.
Finding Quality Living In Lubbock, Texas
If you are planning on moving to Lubbock, finding an affordable home to lease from a trusted management company will ensure you get the greatest value for your money.
Lubbock Lease Homes can help with properties throughout central Lubbock and nearby Texas Tech University. We’ve been renting to new Lubbock residents and relocating Lubbockites for over three decades, and we can help you find the perfect rental home for your specific needs.
Check out all available properties to get started. If you have any questions, contact us, and I or a member of my team will get back to you as soon as possible.
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