More Properties Leased as Rent Growth Remains Modest
June, second-quarter and midyear 2026 results show healthy renter demand, but extended marketing times continue to reward accurate pricing and move-in-ready condition.
The Market at Midyear
The Lubbock rental market finished the first half of 2026 with higher leasing volume and modest rent growth. More properties are leasing than last year, but renters have choices and remain sensitive to price, condition and location.
June produced 307 leases based on close date, compared with 279 in June 2025. Despite the 10% increase in leasing activity, average rent declined 1% to $1,431.86. Average days on market increased slightly from 50 to 51 days.
What matters most
The market is not lacking demand. The challenge is converting that demand before vacancy erodes the benefit of a higher advertised rent. In the current market, the property that leases first can outperform the property that advertises the highest rent.
June 2026 Performance
More leases did not translate into higher average rent
The market recorded 307 leases, a 10% increase from June 2025. That increase shows renter demand remained active during the summer leasing season.
Average rent declined 1% to $1,431.86, while DOM increased slightly from 50 to 51 days. The combination suggests competitive pricing helped the market absorb more inventory, but owners did not have unlimited pricing power.
June’s clearest example was 79416: leasing volume increased 27.3% and DOM fell from 63 to 38 days as average rent moved lower.
June: 2026 vs. 2025
Bars are scaled within each measurement.
June Performance by ZIP Code
ZIP codes with at least 10 leases during June 2026
| ZIP | 2026 Leases | 2026 Rent | 2026 DOM | 2025 Leases | 2025 Rent | 2025 DOM | Rent Change | DOM Change |
|---|---|---|---|---|---|---|---|---|
| 79424 | 35 | $1,697.43 | 45 | 37 | $1,645.00 | 46 | +3.2% | -2.2% |
| 79423 | 55 | $1,549.36 | 46 | 40 | $1,683.75 | 44 | -8.0% | +4.5% |
| 79416 | 56 | $1,344.70 | 38 | 44 | $1,433.00 | 63 | -6.2% | -39.7% |
| 79414 | 10 | $1,475.00 | 36 | 11 | $1,263.18 | 45 | +16.8% | -20.0% |
| 79413 | 30 | $1,359.83 | 59 | 22 | $1,318.18 | 34 | +3.2% | +73.5% |
| 79411 | 15 | $1,050.33 | 75 | 14 | $961.79 | 72 | +9.2% | +4.2% |
| 79410 | 18 | $1,221.61 | 74 | 33 | $1,332.42 | 57 | -8.3% | +29.8% |
| 79407 | 27 | $1,672.37 | 38 | 33 | $1,595.27 | 32 | +4.8% | +18.8% |
| 79403 | 12 | $1,116.50 | 81 | 7 | $1,188.57 | 39 | -6.1% | +107.7% |
| 79382 | 16 | $1,940.25 | 59 | 9 | $1,713.78 | 24 | +13.2% | +145.8% |
Second-Quarter Results
Seasonal improvement was meaningful
Q2 produced 803 leases, approximately 6.1% more than Q2 2025. Average rent increased 1.4% to $1,449.58, while average rent per square foot increased to $1.04.
Compared with Q1, leasing volume increased approximately 25%, average rent rose 2.2%, and DOM declined from about 65 days to 54 days. More properties leased at a higher average rent and in less time.
Even after that improvement, Q2 remained 18 days above the 36-day marketing goal.
Q2: 2026 vs. 2025
Quarterly year-over-year comparison
Q2 Performance by ZIP Code
April through June 2026 compared with the same period in 2025
| ZIP | 2026 Leases | 2026 Rent | 2026 DOM | 2025 Leases | 2025 Rent | 2025 DOM | Rent Change | DOM Change |
|---|---|---|---|---|---|---|---|---|
| 79424 | 99 | $1,687.15 | 48 | 116 | $1,658.62 | 41 | +1.7% | +17.1% |
| 79423 | 135 | $1,546.94 | 48 | 122 | $1,542.37 | 57 | +0.3% | -15.8% |
| 79416 | 140 | $1,444.01 | 49 | 107 | $1,429.63 | 62 | +1.0% | -21.0% |
| 79415 | 11 | $975.00 | 58 | 6 | $1,065.83 | 43 | -8.5% | +34.9% |
| 79414 | 29 | $1,350.52 | 43 | 45 | $1,247.89 | 40 | +8.2% | +7.5% |
| 79413 | 79 | $1,367.59 | 56 | 67 | $1,310.00 | 59 | +4.4% | -5.1% |
| 79412 | 17 | $885.88 | 33 | 21 | $986.43 | 58 | -10.2% | -43.1% |
| 79411 | 39 | $1,009.31 | 79 | 32 | $922.03 | 73 | +9.5% | +8.2% |
| 79410 | 53 | $1,253.55 | 63 | 74 | $1,285.68 | 65 | -2.5% | -3.1% |
| 79407 | 88 | $1,582.78 | 46 | 83 | $1,646.71 | 43 | -3.9% | +7.0% |
| 79404 | 15 | $1,258.53 | 41 | 15 | $1,362.33 | 34 | -7.6% | +20.6% |
| 79403 | 20 | $1,127.05 | 82 | 22 | $1,224.32 | 51 | -7.9% | +60.8% |
| 79401 | 23 | $1,376.26 | 128 | 20 | $1,093.35 | 73 | +25.9% | +75.3% |
| 79382 | 49 | $1,749.45 | 54 | 20 | $1,829.45 | 22 | -4.4% | +145.5% |
Year-to-Date Direction
Demand is ahead of last year, but vacancy risk remains
Through June, 1,444 properties leased—approximately 5.9% more than during the first half of 2025. Average rent increased 1.6% to $1,435.95.
The 59-day YTD average DOM remains the primary concern. It is 23 days, or approximately 64%, above the 36-day target.
The first-half numbers describe a functioning but selective market: demand is present, rent growth is modest and extended marketing time can quickly offset a small rent increase.
YTD: 2026 vs. 2025
January through June
YTD Performance by ZIP Code
January through June 2026 compared with January through June 2025
| ZIP | 2026 Leases | 2026 Rent | 2026 DOM | 2025 Leases | 2025 Rent | 2025 DOM | Rent Change | DOM Change |
|---|---|---|---|---|---|---|---|---|
| 79424 | 187 | $1,695.32 | 52 | 198 | $1,634.41 | 47 | +3.7% | +10.6% |
| 79423 | 247 | $1,494.02 | 52 | 226 | $1,479.95 | 56 | +1.0% | -7.1% |
| 79416 | 236 | $1,466.68 | 51 | 201 | $1,409.29 | 66 | +4.1% | -22.7% |
| 79415 | 15 | $978.33 | 51 | 17 | $920.29 | 61 | +6.3% | -16.4% |
| 79414 | 56 | $1,351.88 | 57 | 72 | $1,217.97 | 46 | +11.0% | +23.9% |
| 79413 | 122 | $1,331.27 | 59 | 114 | $1,319.43 | 60 | +0.9% | -1.7% |
| 79412 | 39 | $942.18 | 71 | 44 | $918.86 | 74 | +2.5% | -4.1% |
| 79411 | 67 | $1,016.61 | 74 | 58 | $1,024.05 | 76 | -0.7% | -2.6% |
| 79410 | 108 | $1,279.05 | 67 | 132 | $1,431.55 | 68 | -10.7% | -1.5% |
| 79407 | 150 | $1,575.28 | 52 | 137 | $1,566.14 | 47 | +0.6% | +10.6% |
| 79404 | 37 | $1,230.00 | 79 | 23 | $1,317.70 | 34 | -6.7% | +132.4% |
| 79403 | 52 | $1,132.29 | 90 | 41 | $1,140.29 | 59 | -0.7% | +52.5% |
| 79401 | 43 | $1,331.30 | 114 | 38 | $1,201.11 | 67 | +10.8% | +70.1% |
| 79382 | 74 | $1,765.57 | 56 | 44 | $1,828.02 | 40 | -3.4% | +40.0% |
Why Mid-Term Rentals May Be the Smarter Play for Today’s Market
The short-term rental (STR) surge changed the way investors approached real estate, but the model is beginning to show strain. Constant turnovers, cleaning costs, seasonal gaps and tightening city restrictions are making it harder for owners to maintain profit margins. Many hosts who once loved the flexibility of platforms like Airbnb or Vrbo now find the workload unsustainable and the returns inconsistent. That is why more investors are shifting their focus to mid-term rentals (MTRs)—furnished properties leased for 30 days or longer that cater to traveling professionals, corporate guests and families in transition.
Mid-term rentals deliver what STRs often cannot: stability, lower expenses and better tenant quality. Instead of nightly bookings and constant resets, owners can welcome tenants who stay one to six months. That means fewer vacancies, smoother cash flow and dramatically reduced turnover costs. MTR guests are typically nurses, corporate employees or families relocating, and they treat the property as a temporary home rather than a hotel. Because leases exceed 30 days, MTRs may also avoid many short-term rental restrictions, helping investors maintain compliance while offering more predictable income.
For many investors, MTRs strike the right balance between profit and peace of mind. While nightly STR rates can look higher on paper, the net return from a mid-term rental may win once labor, utilities and wear and tear are considered. Even successful STR owners are adding MTRs to diversify their portfolios and hedge against market changes.
At Coldwell Banker Residential Property Management, we help investors analyze market demand, potential returns and operating logistics to determine whether an MTR strategy makes sense. If you are ready for steadier income, fewer headaches and long-term growth, it may be time to make the mid-term move.
What Owners Should Do Next
Protect occupancy
- Price from current competition, not last year’s rent.
- Complete repairs before marketing begins.
- Review activity during the first two weeks.
- Respond quickly when inquiries and applications are limited.
Near-term outlook
Leasing demand should remain healthy, but the market is unlikely to support aggressive increases across every property. Near-term rent growth will likely remain between flat and approximately 2%, while DOM will remain elevated for properties that begin above the market.
Local Development to Watch
Inn Town Lofts recently opened in downtown Lubbock, returning a formerly vacant building to use as a 56-unit affordable apartment community. The development is positive for downtown revitalization and adds studios through three-bedroom apartments. Its direct effect on the broader single-family market should be limited, but it may add competition for lower-priced one- and two-bedroom rentals near central Lubbock.
Why Work With Coldwell Banker Residential Property Management?
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Local Market Strategy
Our recommendations are grounded in current Lubbock leasing activity, including rent, days on market, property condition and neighborhood performance.
How is your rental positioned?
Coldwell Banker Residential Property Management can evaluate your property’s rent, condition and competitive position using current Lubbock market activity.
Data is based on Lubbock-area MLS rental activity counted by close date. ZIP-code rankings require at least 10 leases during the applicable 2026 reporting period. Minor discrepancies exist among certain 2025 source totals but do not materially affect the market conclusions.