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City Report · TX

Canyon

Pop. 15,723·237th most expensive in Texas·Canyon rents are up 24.6% over the past year
Median rent (all units)
$1,296/mo
Year-over-Year
+24.6%
Month-over-Month
+7.9%
vs US Median
-$669
Rising (Monthly)
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Most AffordableMost Expensive
Canyon · $1,296
More affordable than 88% of US cities · National median $1,965/mo
Affordability
22% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $1,296/mo, rent takes about 22% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$52,000/yr
Local median income
$69,772/yr
Based on the 30%-of-income rule using Canyon's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$770
1 BR
$900
2 BR
$1,090
3 BR
$1,500
4 BR+
$1,740
Research median
$1,090/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$15,552/yr
At $1,296/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 24.6% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+24.6% YoY, +7.9% MoM), not inventory.
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Demographics

Who lives here

Canyon, TX is roughly split between renters and owners, skews toward younger working-age adults, 44.7% of residents hold a bachelor's degree or higher.

Population
15,723
Median income
$69,772
Median age
28.7
Renters
45.9%
Age distribution
20.9%
38.3%
18.9%
12.7%
Under 1820.9%
18–3438.3%
35–5418.9%
55–649.3%
65+12.7%
Gender
50.1%
49.9%
Male50.1%
Female49.9%
Race & ethnicity
79.6%
19.5%
White79.6%
Black3.1%
Hispanic19.5%
Asian0.9%
Education (25+)
24.6%
26.4%
44.7%
No HS diploma4.4%
HS diploma24.6%
Some college26.4%
Bachelor's+44.7%
Housing tenure
54.1%
45.9%
Owner54.1%
Renter45.9%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How Canyon, TX has changed in 5 years

Rent
$1,084 → $1,296
up 19.6%
Income
$60,417 → $69,772
up 15.5%
Population
14,669 → 15,723
up 7.2%
Renter share
43.8% → 45.9%
+2.1 pts
Bachelor's+
44.9% → 44.7%
-0.2 pts
Median age
27.3 → 28.7
+1.4 yrs

Compared with 2023, rent in Canyon, TX has increased by $212 per month, settling near $1,296 after starting the period at $1,084. On the earnings side, the typical household in Canyon, TX now reports about $69,772, up from $60,417 in 2021. Rent outpaced income growth by roughly 4.1 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 14,669 to 15,723 between 2021 and 2024, a 7.2% change. About 45.9% of households rent today, against 43.8% in 2021. For context, the 2023 to 2026 window covers an unusually volatile run for US rents nationally, and Canyon, TX reflects that arc in its own way.

Community

Discussions about Canyon

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View Canyon rent history (2015–2026) →
Salary vs rent

Can you afford rent in Canyon on your salary?

At $1,296/mo, how Canyon rent compares to typical pay (30% rule).

By apartment size

Canyon rent by bedroom count

Median rent for each apartment size in Canyon. Click any size for full breakdown.

Local insights

Tips for renters in Canyon

About renting in Canyon, TX

Last updated: July 20, 2026

The median rent in Canyon is $1,296/mo as of July 2026. A studio apartment averages $770/mo while a 2-bedroom runs $1,090/mo. One-bedroom apartments average $900/mo and 3-bedroom units go for $1,500/mo.

At 22% of local median household income ($69,772/yr), Canyon ranks as affordable compared to the national benchmark of 30%. Rents have increased 24.6% over the past year.

FAQ

Frequently asked questions

Is Canyon an affordable city for renters?

Canyon is considered very affordable for renters. At $1,296/mo, rent takes approximately 22% of the local median household income ($69,772/yr). The standard benchmark is 30%. Canyon falls comfortably within that range.

How much income do you need to rent in Canyon?

To keep rent at or below 30% of gross income, you would need to earn at least $52,000/year (~$25/hour full-time) to afford the median rent of $1,296/mo in Canyon. The local median household income is $69,772/yr, meaning the typical Canyon household meets that threshold.

Is rent going up or down in Canyon?

Rent in Canyon has increased 24.6% over the past year as of July 2026, putting upward pressure on renter budgets.

How does Canyon rent compare to other cities in Texas?

Canyon is one of the more affordable cities in Texas for rent, ranking #237 out of 269 tracked cities at $1,296/mo.

Which nearby cities are cheaper to rent in than Canyon?

Several nearby cities have lower median rents than Canyon ($1,296/mo): Portales ($862/mo), Clovis ($1,206/mo), Amarillo ($1,278/mo).

What percentage of Canyon residents rent vs. own?

According to Census data, approximately 45.9% of Canyon households are renters, while 54.1% are owner-occupied. Canyon leans toward homeownership, which can mean a smaller rental inventory.

How does Canyon rent compare to the national average?

Canyon's median rent of $1,296/mo is $669 (34%) below the US national median of $1,965/mo. Within Texas, it ranks #237 out of 269 tracked cities.
Income Affordability
22%
VERY AFFORDABLE

At $1,296/mo, rent takes ~22% of Canyon's median household income ($69,772/yr). The standard benchmark is 30%.

Canyon 22%Benchmark 30%
State income taxNone
Run the Canyon affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Canyon, TX

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