Quick facts: El paso, TX

Quick Facts

99.5
Cost of Living
below US average
677,456
Population
16.94
Crime Rate per 1000
below US average
$55,710
Median Income
below US average
$189,000
Median House Price
above US average
$1077.17
Average Rent
below US average
17%
Poverty Rate
above US average
4.6%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $55,710.

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Income Needed to Buy

βœ— Stretch
$59k/year
Based on $189,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $59k vs median $55,710
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Income Needed to Rent

βœ“ Affordable
$46k/year
Based on $1077.17/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($55,710) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for El paso, TX

El Paso, Texas, is a vibrant city located in the far west corner of Texas, bordered by Mexico to the south and New Mexico to the north. Known for its rich cultural heritage, El Paso boasts a unique blend of American and Mexican influences, reflected in its cuisine, music, and festivals. The city is famous for its stunning desert landscapes and the iconic Franklin Mountains that provide a scenic backdrop for outdoor activities, including hiking and mountain biking. El Paso is home to several historic sites, such as the San Elizario Mission and the El Paso Museum of History, which showcase the city’s storied past. The bustling downtown area features a variety of shops, restaurants, and entertainment options, including the annual Neon Desert Music Festival. With a warm desert climate, El Paso enjoys plenty of sunshine year-round, making it an attractive destination for those who enjoy outdoor pursuits. The city's economy is diverse, with strong sectors in manufacturing, trade, and military presence, thanks to the nearby Fort Bliss. Overall, El Paso is a culturally rich and inviting city, ideal for both residents and visitors alike.

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