Quick facts: Flower mound, TX

Quick Facts

99.5
Cost of Living
below US average
78,486
Population
8.21
Crime Rate per 1000
below US average
$154,471
Median Income
above US average
$539,000
Median House Price
above US average
$2587.75
Average Rent
above US average
4%
Poverty Rate
below US average
3.7%
Unemployment Rate
below 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 $154,471.

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Income Needed to Buy

βœ— Stretch
$169k/year
Based on $539,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $169k vs median $154,471
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Income Needed to Rent

βœ“ Affordable
$111k/year
Based on $2587.75/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($154,471) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Flower mound, TX

Flower Mound, Texas, is a suburban town located in Denton and Tarrant counties, just northwest of the Dallas-Fort Worth metroplex. Known for its scenic beauty, the town is named after a prominent flower-covered mound that rises 600 feet above sea level. Flower Mound boasts a family-friendly atmosphere with a highly-rated school district, making it an attractive place for families. The town offers a mix of outdoor recreational opportunities, including numerous parks, miles of hiking and biking trails, and access to Lake Grapevine, popular for boating and fishing. With a population of over 76,000, Flower Mound provides a strong sense of community, regularly hosting cultural events, farmers’ markets, and seasonal festivals. Shopping and dining options abound, featuring a variety of local and chain establishments that cater to diverse tastes. The local economy is bolstered by technology, healthcare, and retail sectors, and residents benefit from the town’s proximity to the bustling business hubs of Dallas and Fort Worth. Overall, Flower Mound combines a suburban lifestyle with easy access to urban amenities.

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