The city's growing number of people and its economy might also help raise home values and the cost to rent.Start by looking at your equity, research the rental market in Lubbock, check out properties with tools like BiggerPockets rent calculator, talk to local pros, look into money options, and choose if you want to run the place yourself or get a company to do it.

This to me would warrant an economical option.

Take an option to buy the property 3.

Purchase price: $551,050 Cash invested: $12,000 Utilized the new 5% down conventional option.

There are a few options for that -- a duplex, in which you live in one side and rent the other long-term.

The advantages are twofold - you secure favorable financing terms for your primary residence, and when you're ready to move on to the next property, you have the option to turn your initial purchase into a lucrative investment.

The expanded inventory offers more options for buyers and a healthier market overall.Actionable InsightsFor Buyers: Now is a great time to explore the market with the increased inventory.

Other options include regular loans with a 20% down payment or getting a long-term roommate.

You're not kicking them out, you're giving them an option.

More money in the market means more opportunities for everyone.Active Inventory: A whopping 52.6% increase in active inventory, from 2,717 to 4,146, means more options for buyers and a more balanced market.Despite a slight dip in the percentage of the original list price received (down 1%) and a minor increase in median time to contract (up 11.1%), the overall sentiment is overwhelmingly positive.