How much does it cost to rent in Canyon, TX?

As of August 2026, the median monthly rent in Canyon, TX is $1,369. This figure is based on aggregated data from public sources and community-submitted rents.

Is Canyon cheaper than other Texas cities?

Canyon is among the more affordable cities in Texas, ranking #217 out of 267 cities at $1,369/mo.

When was Canyon rent data last updated?

Canyon rent data reflects August 2026 and was last refreshed on August 17, 2026. RentDataNow refreshes all data monthly using public and private datasets.

What is the Fair Market Rent in Canyon, TX?

HUD sets the Fair Market Rent for a two-bedroom home in Canyon, TX at $1,090 per month, which is 20% below the $1,369 market median. Fair Market Rent is the Housing Choice Voucher (Section 8) payment standard. It is a 40th-percentile gross rent that includes essential utilities such as electricity, water, gas, sewer, and trash, and HUD updates it once a year, so it measures something different from current market asking rent.

City Report · TX

Canyon

Name: Average Rent Prices in Canyon, TX
Creator: RentDataNow
License: https://creativecommons.org/licenses/by/4.0/

Pop. 15,723·217th most expensive in Texas·Canyon rents are up 32.7% over the past year

Median rent (all units)

$1,369/mo

Year-over-Year

+32.7%

Month-over-Month

+5.6%

vs US Median

-$593

Rising (Monthly)

Be the first to discuss Canyon rents ↓

Most AffordableMost Expensive

Canyon · $1,369

More affordable than 84% of US cities · National median $1,962/mo

Affordability

24% of income

VERY AFFORDABLE

0%30% benchmark60%+

At $1,369/mo, rent takes about 24% of the local median household income, comfortably within the 30% benchmark.

Income to afford

$55,000/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

Fair Market Rent (HUD)

$1,090/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,369 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 →

Rent trends

12-month history

Loading…

Last updated: August 17, 2026

Annual cost

$16,428/yr

At $1,369/mo median

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 32.7% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+32.7% YoY, +5.6% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

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 → $1,369

up 26.3%

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 $285 per month, settling near $1,369 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 10.8 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

No discussions yet. Start the conversation.

View Canyon rent history (2015–2026) →

Salary vs rent

Can you afford rent in Canyon on your salary?

At $1,369/mo, how Canyon rent compares to typical pay (30% rule).

Registered Nurse

Avg $93,535/yr · Rent = 17.6% income

very comfortable

Elementary School Teacher

Avg $66,409/yr · Rent = 24.7% income

affordable

Police Officer

Avg $76,497/yr · Rent = 21.5% income

affordable

Software Developer

Avg $136,729/yr · Rent = 12% income

very comfortable

Lawyer

Avg $174,705/yr · Rent = 9.4% income

very comfortable

Firefighter

Avg $62,182/yr · Rent = 26.4% income

affordable

Truck Driver

Avg $56,143/yr · Rent = 29.3% income

affordable

Electrician

Avg $69,201/yr · Rent = 23.7% income

affordable

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: August 17, 2026

The median rent in Canyon is $1,369/mo as of August 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 24% of local median household income ($69,772/yr), Canyon ranks as affordable compared to the national benchmark of 30%. Rents have increased 32.7% over the past year.

FAQ

Frequently asked questions

Is Canyon an affordable city for renters?

Canyon is considered very affordable for renters. At $1,369/mo, rent takes approximately 24% 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 $55,000/year (~$26/hour full-time) to afford the median rent of $1,369/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 32.7% over the past year as of August 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 #217 out of 267 tracked cities at $1,369/mo.

Which nearby cities are cheaper to rent in than Canyon?

Several nearby cities have lower median rents than Canyon ($1,369/mo): Portales ($975/mo), Clovis ($1,272/mo), Amarillo ($1,277/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.