More Leasing Activity and a 25% Improvement in DOM

In Lubbock County, 220 residential leases closed during September 2026, compared with 198 in September 2025. Average achieved monthly rent increased from $1,371.95 to $1,412.35. More notably, average days on market (DOM) fell from 65.06 to 48.79 days.

The improvement in DOM is particularly important. Reducing marketing time can help an owner protect revenue without relying entirely on rent increases. Yet the market average remains about 13 days above the 36-day operating benchmark used in our portfolio planning.

September Slowed From August, but Homes Leased Faster

September recorded 220 closings, down from 341 in August, a 35.5% month-over-month decline. The average achieved rent also decreased from $1,526.47 in August to $1,412.35 in September. But average DOM improved from approximately 54 days to 48.8 days.

That drop in closings is consistent with the seasonal transition out of the summer leasing rush. For comparison, closings also declined between August and September in 2025, from 248 to 198.

Likewise, the month-over-month decrease in average rent should not be read as a 7.5% decline in the value of comparable rentals. September’s leased properties averaged 1,421 square feet, compared with 1,483 in August. The mix of homes that happened to close affects the overall average.

79424 Led in Both Achieved Rent and Leasing Speed

We require at least 10 closed leases in a zip code before using it in rankings. Among qualifying areas, 79424 recorded both the highest average achieved rent at $1,789 and the lowest average DOM at 28.9 days. Zip code 79423 produced the most completed leases, at 41.

The Third Quarter Was Stronger Than Last Year

Across July through September, the quarterly summary reports 947 closed leases, compared with 760 during the same period in 2025. Average achieved rent increased 4.0%, while average DOM declined modestly.

These figures reinforce that leasing activity was stronger in the third quarter of 2026. But because quarterly DOM improved much less than September’s year-over-year comparison, a sustained improvement in marketing speed is not yet guaranteed.

Did the August Supply Shift Continue?

August’s FlexMLS market statistics showed 341 closed leases compared with 251 newly listed properties, alongside a decline in active inventory. That was an important sign of a potentially tightening market.

September’s closed-lease data confirms stronger year-over-year closings and faster leasing. However, those records do not establish September’s total new listings or active inventory. We need September’s full market statistics before concluding that supply continued to tighten.

Texas Tech Enrollment Sets Another Record

Texas Tech University announced on September 23 that official fall 2026 enrollment reached 46,296 students, an increase of 3,841 from the prior year.

That growth may support demand for student-oriented housing and rentals serving university employees, though it can also encourage additional housing supply.

It is too early to assign a measurable share of September’s leasing gains to enrollment growth. Still, the university’s expansion remains an important local development for Lubbock rental property owners.

Read Texas Tech’s Official September Enrollment Announcement

Better Leasing Performance Matters More Than the Highest Asking Rent

Consider a property that could lease for $1,500 per month. Raising the asking rent to $1,600 creates an opportunity for an additional $1,200 over twelve months, assuming uninterrupted collection.

But if the higher asking price adds a month of vacancy, that alone can consume approximately $1,500 of potential rent.

This is why we evaluate rent together with marketing time, property condition, and the likely duration of tenancy. Our objective is not just a higher rent number. It is stronger overall rental property performance.