Quick facts: Forestburg, TX

Quick Facts

99.5
Cost of Living
below US average
1,986
Population
5.04
Crime Rate per 1000
below US average
$72,206
Median Income
below US average
$425,000
Median House Price
above US average
$1563
Average Rent
above US average
8%
Poverty Rate
below US average
3.5%
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 $72,206.

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Income Needed to Buy

βœ— Stretch
$133k/year
Based on $425,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $133k vs median $72,206
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Income Needed to Rent

βœ“ Affordable
$67k/year
Based on $1563/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($72,206) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Forestburg, TX

Forestburg is a charming small town located in Montague County, Texas. Nestled in the North Texas region, this rural community boasts a serene environment, making it perfect for those who enjoy a slower pace of life. The population is modest, providing a close-knit community feel. The town is characterized by its scenic landscapes, featuring rolling hills and open fields, which are ideal for outdoor activities such as hiking, fishing, and hunting. Forestburg also reflects the rich heritage of Texas, with historical buildings and a welcoming atmosphere. Local events often bring residents together, fostering a strong sense of community. The surrounding area offers additional attractions, including access to larger cities within a short drive, providing residents with more amenities while still enjoying the tranquility of small-town living. Overall, Forestburg is a peaceful and community-oriented place that highlights the charm of rural Texas.

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