Lubbock 2015 Apartment Market TrendsLubbock 2015 Apartment Market Trendshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=1572015-08-25T09:00:00Z2015-08-13T00:00:00Z

LUBBOCK - Average rental rates continue to climb steadily in the Lubbock apartment market, while aggregate occupancy levels have increased for four years in a row, according to the Lubbock 2015 market trends report.

Occupancy of individual apartment complexes within the sample set currently ranges from 76 percent to 100 percent.

Occupancies have made a modest comeback reaching 92.4 percent this year.

Meanwhile, average rental rates per sf have increased significantly, rising from $0.66 in 2008 to $0.88 in 2015.

The total Lubbock conventional apartment market within four zones consists of 132 total apartment communities with 20,541 units and 21 million sf.

Average Lubbock Occupancy 2015
South Zone 93.9%
Central Zone 93.5%
West Zone 91.1%
East Zone 85.6%
Total 92.4%

Source: Coldwell Banker Commercial Rick Canup Realtors

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