Lamb County, Texas Housing Market Prices
Lamb County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 54% below the Texas median$119,374
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Median rent 31% below the Texas median$967
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Lamb County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $119,374 | $258,873 | $248,835 |
| Price Trend (Annual %) | 6.4% | 9.2% | 7.5% |
| Median Gross Rent | $967 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 5.9% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lamb County is about 54% lower than in Texas. Rent is about 31% lower than the Texas average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Lamb County, up about 6.4% and 5.9% a year respectively. Home prices are changing faster.
Median rent in Lamb County rose about 55.7% between 2015 and 2024, from $621 to $967. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Lamb County.
Buying the median-priced home in Lamb County costs roughly 10.3 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Lamb County. The price-to-rent ratio in Texas is about 15.4.
| Metric | Lamb County | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $119,374 | $258,873 | $248,835 |
| Median Household Income | $61,051 | $78,939 | $80,455 |
| Price-to-Income Ratio | 2.0 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lamb County rose about 331.6%, while median household income rose about 59.9% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Lamb County | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.8% | 56.7% | 58.5% |
| Rental Rate | 20.6% | 33.9% | 31.2% |
| Vacancy Rate | 20.5% | 9.4% | 10.2% |
| Median Tenure (years) | 19.0 | 14.0 | 15.0 |
| Median Year Moved In | 2007 | 2012 | 2011 |
Lamb County has a homeownership rate of 58.8%, higher than the Texas average of 56.7%. Its housing vacancy rate is 20.5%, compared with 9.4% in Texas.
Housing Stock
| Metric | Lamb County | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.70 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 1966 | 1990 | 1978 |
| Median Number of Rooms | 5.3 | 5.4 | 5.5 |
The typical housing unit in Lamb County was built around 1966. On average, 2.7 people live in a home with about 5.3 rooms, staying for about 19.0 years on average.
Lamb County, TX Housing Compared With Nearby Counties
Lamb County, TX is the 3rd largest of the 4 counties compared here, 12,828 residents against a local median of 21,363. The measure that sets Lamb County, TX apart most is median home price: $119,374, 15% below the local median of $140,624.
The counties themselves spread $147,794 on median home price, so Lamb County, TX sits at one end of an already wide local range rather than apart from it. Lamb County, TX has the 4th highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Lamb County, TX | 12,828 | $119,374 #4/4 | $967 #1/4 | 74.0% #2/4 |
| Hockley County, TX | 21,363 | $127,206 | $850 | 72.2% |
| Bailey County, TX | 6,913 | $275,000 | $931 | 79.9% |
| Hale County, TX | 32,131 | $140,624 | $836 | 60.5% |
Frequently Asked Questions
Common questions about the housing market in Lamb County, Texas.
What is the median home price in Lamb County, Texas?
The median home price in Lamb County, Texas is $119,374, lower than the Texas average of $258,873.
What is the average home price in Lamb County, Texas?
The typical home price in Lamb County, Texas, reported as the median sale price, is $119,374. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Lamb County, Texas?
The median gross rent in Lamb County, Texas is $967 per month, lower than the Texas average of $1,402.
What was the median gross rent in Lamb County in 2020?
In 2020, the median gross rent in Lamb County, Texas was $714 per month.
What is the price-to-rent ratio in Lamb County, Texas?
The price-to-rent ratio in Lamb County, Texas is about 10.3, meaning it would take roughly 10.3 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Lamb County.
Are home prices or rent rising faster in Lamb County, Texas?
Both home prices and rent are rising in Lamb County, up about 6.4% and 5.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lamb County, Texas?
58.8% of households in Lamb County, Texas own their home, higher than the Texas average of 56.7%.
What is the vacancy rate in Lamb County, Texas?
The housing vacancy rate in Lamb County, Texas is 20.5%, higher than the Texas average of 9.4%.
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