Cost of Living in Lamb County, Texas
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Lamb County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Lamb County ranks #2,024 of 3,144 counties for affordability (bottom 36%)
Data Story
About Cost of Living in Lamb County, Texas
Lamb County just above national norm
Lamb County's rent-to-income ratio of 18.9% exceeds the 30% affordability threshold's margin but remains just above the national average. Renters here spend roughly 19 cents of every dollar on housing—a tight but manageable affordability picture.
Slightly tighter than Texas average
Lamb County's 18.9% rent-to-income ratio edges above Texas's state average of 18.1%, making it a middle-of-the-pack choice for renters statewide. At $900 monthly, median rent runs just 6% above the state average of $963, reflecting regional cost pressures in the Texas Panhandle.
Modest rents in the Panhandle
Lamb County's $900 rent sits between Knox County's ultra-affordable $661 and the higher costs found in central Texas counties. However, its homeownership costs are remarkably low—just $506 monthly with a median home value of $76,600—making it a buyer's haven despite rental affordability challenges.
Ownership significantly cheaper here
Lamb County residents earning $56,997 median income face $900 monthly rent (18.9% of income) but can own a home for just $506 monthly (8.9% of income). This dramatic gap makes homeownership in Lamb County exceptionally affordable despite rental market pressures.
Lamb County: buy, don't rent
If you're considering Lamb County, the data strongly favors homeownership—monthly costs are roughly half what renters pay. Compare its $76,600 median home value and $506 ownership costs against neighboring counties to see why buying here makes financial sense.
Cost of Living Advisory: Lamb County
Affordability Verdict
Lamb County offers affordable rental housing at a median of $900/month — about 18.9% of the typical household income here.
Rent vs. Own
At $900/month rent versus $506/month in owner costs, owning is roughly $394/month cheaper — a 44% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $36,000/year. For owner costs at the 28% rule, the required income is roughly $21,686/year. With a median household income of $56,997, most households can comfortably afford rent here. Notably, 28.0% of renter households in Lamb County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Lamb County sits 5% less expensive than Tyler County ($951/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Lamb County
Rent Burden
18.9%
of gross income
Max Housing (28% Rule)
$1,330
per month
Owner Cost Burden
10.7%
of gross income
You can likely afford the median home in Lamb County
Median home value is $76,600. Estimated monthly cost: $612 vs. your max of $1,330.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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