Updated 5+ Days Ago
Location
506 E Municipal Dr, Lubbock, TX 79403, USA|Parkway and Cherry Point
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Amenities for 506 E Municipal Dr, Parkway and Cherry Point
Grounds
| Garage Parking |
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.
Policies and fees
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One-time.
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Security Deposit
One-time. Refundable.
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About 506 E Municipal Dr
Sweet deal!
This listing is 15% below the median price for 3 bedroom apartments in Parkway and Cherry Point.
Property Status: Active 3 bedroom 1 Bathroom. Roommates Considered (2 @ $600 per roommate), Pets Considered (Prefer None, 2 small dogs under 30lb), Schools: Alderson Elementary, Talkington/Dunbar Middle School, Talkington/Estacado High School Office Phone: (806) 794-5800 Copyright © 2026 Lubbock Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Property highlights
We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.How 506 E Municipal Dr compares to other nearby properties.
Positives
- High school nearby
- There is a high school 1 mile away
- Middle school nearby
- There is a middle school 1 mile away
- Less expensive
- The 3-bedrooms are cheaper than other similar listings nearby
Address details
| Neighborhood | Parkway and Cherry Point |
|---|---|
| Zip code | 79403 |
| Type | House for rent |
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Rent trends in Parkway and Cherry Point
3-bedroom apartments at 506 E Municipal Dr cost about 15% less than the average rent price for 3-bedroom apartments in Lubbock.
Median rents as of Sep 5 2026.
Parkway and Cherry Point
Lubbock
| Month | Median Rent |
|---|---|
| September 2024 | $1,400 |
| October 2024 | $1,399 |
| November 2024 | $1,399 |
| December 2024 | $1,400 |
| January 2025 | $1,431 |
| February 2025 | $1,415 |
| March 2025 | $1,449 |
| April 2025 | $1,456 |
| May 2025 | $1,498 |
| June 2025 | $1,499 |
| July 2025 | $1,499 |
| August 2025 | $1,460 |
| September 2025 | $1,431 |
| October 2025 | $1,400 |
| November 2025 | $1,400 |
| December 2025 | $1,412 |
| January 2026 | $1,420 |
| February 2026 | $1,449 |
| March 2026 | $1,450 |
| April 2026 | $1,475 |
| May 2026 | $1,483 |
| June 2026 | $1,494 |
| July 2026 | $1,484 |
| August 2026 | $1,496 |
| September 2026 | $1,450 |
| Month | Median Rent |
|---|---|
| September 2024 | $1,087 |
| October 2024 | $962 |
| November 2024 | $960 |
| December 2024 | $1,027 |
| January 2025 | $1,086 |
| February 2025 | $1,099 |
| March 2025 | $1,074 |
| April 2025 | $1,090 |
| May 2025 | $1,067 |
| June 2025 | $1,022 |
| July 2025 | $1,050 |
| August 2025 | $1,046 |
| September 2025 | $1,022 |
| October 2025 | $950 |
| November 2025 | $1,009 |
| December 2025 | $1,012 |
| January 2026 | $1,048 |
| February 2026 | $1,060 |
| March 2026 | $1,043 |
| April 2026 | $1,056 |
| May 2026 | $1,013 |
| June 2026 | $1,015 |
| July 2026 | $1,038 |
| August 2026 | $995 |
| September 2026 | $999 |
Affordability calculator
Can I afford to live at 506 E Municipal Dr?
Bedrooms
3 bedroomsRent-to-income ratio
30%
Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income
$34,000/yr
With your selected rent-to-income ratio, you'd ideally want to make $34,000 annually to afford this 3-bedrooms monthly rent price of $850.
For more information on rent affordability, visit our rent calculator.
Rent history
The increase or decrease in monthly rent compared to the previous listing price.| 6 months ago | $900 |
Schools near 506 E Municipal Dr
CARMONA-HARRISON EL
1910 cesar e chavez dr
lubbock, TX, 79415
PK, K-5Public
C
Homebound
1628 19th st
lubbock, TX, 79401
PK, K-11Public
TEXAS TECH UNIVERSITY K-12
3316 9th st
lubbock, TX, 79413
K-12Public
A-
Lubbock-Cooper East El
2727 134th st
lubbock, TX, 79423
PK, K-5Public
A-
Upland Heights Elementary School
10020 upland ave
lubbock, TX, 79424
PK, K-5Public
A
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Internet available near 506 E Municipal Dr
Getting around Lubbock near 506 E Municipal Dr
Walking
2/10
You’ll need another mode of transportation for getting around. Scooter, anyone?
Driving
10/10
Commuting is easy with multiple accessible routes and plenty of parking.
Cycling
8/10
Peddling isn’t a problem with cyclist-friendly streets and bikeable destinations.
Transit
1/10
FYI, there are little to no public transit options within walking distance.
Points of interest for 506 E Municipal Dr, Lubbock
Groceries
1/10
Closest supermarket further than a 30-minute walk
Shopping
3/10
Some shops within walking distance
Cafes
2/10
Few or no cafés within walking distance
Restaurants
4/10
Some restaurants within walking distance
Primary schools
3/10
At least one elementary school within a 30-minute walk
High schools
6/10
At least one high school within a 15-minute walk
Parks
8/10
Very large amount of park space within a few minutes' walk
Nightlife
2/10
Few or no bars within walking distance
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