Rents are 3% above what Canyon's 10-year trend predicts — running hotter than its own history.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,232 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Canyon is 0.5% below its high of $1,238 in July 2026, at $1,232 as of September 2026.
Rent in Canyon changed +7.2% over the year to September 2026. Across the 224 Texas cities Zillow tracks, the typical change was +1.0%.
Rent rose in 11 of the last 12 months.
30% of the median household income ($69,772) is $1,744 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,740).
From Zillow's monthly rent index (ZORI) for Canyon. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Canyon, TX has changed in 5 years
Compared with 2023, rent in Canyon, TX has increased by $178 per month, settling near $1,232 after starting the period at $1,054. On the earnings side, the typical household in Canyon, TX now reports about $69,772, up from $60,417 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.
Discussions about Canyon
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Can you afford rent in Canyon on your salary?
At $1,232/mo, how Canyon rent compares to typical pay (30% rule).
Canyon rent by bedroom count
Median rent for each apartment size in Canyon. Click any size for full breakdown.
Tips for renters in Canyon
Last updated: October 17, 2026
The median rent in Canyon is $1,232/mo as of October 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 21% of local median household income ($69,772/yr), Canyon ranks as affordable compared to the national benchmark of 30%. Rents have increased 7.2% over the past year.
Frequently asked questions
How much income do you need to rent in Canyon?
Is rent going up or down in Canyon?
How does Canyon rent compare to other cities in Texas?
Which nearby cities are cheaper to rent in than Canyon?
At $1,232/mo, rent takes ~21% of Canyon's median household income ($69,772/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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