How Much House Can You Afford in Lubbock?
By Bre Brossman, REALTOR®
It's the first real question every buyer asks, and the honest answer is: probably a different number than you think. Here's how to figure out what you can comfortably afford in Lubbock — the way I walk every first-time buyer through it.
1. Start with the monthly payment, not the price
The sticker price of a house isn't what you live with — your monthly payment is. That payment has four parts, sometimes called PITI: principal, interest, property taxes, and insurance. Two homes at the same price can have very different monthly costs once taxes and insurance are in the picture, so always think in monthly terms first.
2. Use the 28/36 rule as a starting point
A common guideline: try to keep your total housing payment around 28% of your gross monthly income, and your total debt (housing plus car, student loans, credit cards) under about 36%. It's a rule of thumb, not a law — but it's a healthy place to start so your home fits your life instead of running it.
3. You likely need less down than you think
The "20% down" idea keeps a lot of Lubbock renters from even looking. In reality, many qualified buyers put down far less through the right loan program. I'm not a lender — but I'll connect you with a great local one who can run your actual numbers, for free, with no obligation. That single conversation often changes everything.
4. Don't forget Lubbock taxes and insurance
Property taxes and homeowner's insurance are real, ongoing parts of your payment, and they vary. Budget for them from the start so nothing surprises you at closing. When we look at specific homes, we'll factor the actual numbers in — not just the loan estimate.
5. Get pre-approved before you shop
A pre-approval does two things: it tells you your real range, and it makes your offer far stronger when you find the one. In a market where good homes move fast, showing up pre-approved is the difference between watching a house go and getting the keys.
6. Run the numbers yourself
Want a quick estimate before we talk? Try the free affordability and payment calculator on the site — plug in your numbers and get a ballpark in a minute. Then we can look at real homes in that range together.
Affordability isn't about the biggest number a lender will approve — it's about the payment that lets you sleep at night and still enjoy your life. Let's find yours.