Lubbock, TX Foreclosed Homes & Properties

Foreclosure Homes for Sale in Lubbock, TX: What You Need to Know

The majority of Lubbock housing types are single-detached homes, and the remainder of dwellings are mostly large apartment buildings. There are 24 low-income housing complexes in Lubbock, including HUD apartments, Section 8 apartments, Public Housing apartments, non-profit senior and family low-income apartments, and low-income tax credit apartments (LIHTC). Roughly 55% of residents own their homes and 45% rent. The average home value is $144,900, up 3.4% from last year. The median monthly rent for an apartment is $822.  

Job Opportunities 

Lubbock is the center of a diversified agriculture-industrial complex. Sectors such as petroleum, engineering products, and cottonseed oil make up a large part of this region's economy. Warehousing and distribution are also vital to the economy. This city is comprised of call-centers, third-party software development, back-office support for financial services, data processing centers, and the information sector. 

One of the largest employers in the city is Texas Tech University. Other primary employers include companies who serve sectors such as healthcare, educational services, construction, manufacturing, accommodation and food services, government, and management-related occupations. The average salary is $43,320 across all professions. 

Cost of Living  

The overall cost of living in Lubbock is 8% lower than the national average. You can expect to pay $893.51 a month in rent. The median home price is $285,234. Rent for an apartment averages $822. The estimated monthly expenses for electricity are $168.67 and $179.79 for your phone bill. Healthcare costs are 1% lower than the rest of the nation's average prices. If you take a pet to see their vet, it will cost about $48.33. The combined sales tax rate for Lubbock is 8.25%.

Local Culture 

Lubbock has been dubbed the “Hub City” because it is the central economic, educational, and healthcare hub of a multicounty region. Art has a heavy influence on the culture that shapes this city. This is the place that produced great artists such as Tanya Tucker and Natalie Maines of the Dixie Chicks, Buddy Holly & The Crickets, Mac Davis, and Waylon Jennings. The diverse music scene includes Classical, Country & Western, Bluegrass, Tejano, and Rock 'N' Roll. Many festivals, shows, performances, and exhibitions paint a vibrant scene in Lubbock's streets throughout the year. There are lots of art galleries, performing arts, and live music venues to entertain the masses. Some annual events near-and-dear to residents are the National Cowboy Symposium & Celebration, the Lubbock Arts Festival, and the Lubbock Music Fest.