Quick facts: Gordon, TX

Quick Facts

99.5
Cost of Living
below US average
480
Population
56.25
Crime Rate per 1000
above US average
$68,466
Median Income
below US average
$175,000
Median House Price
above US average
$4100.0
Average Rent
above US average
14%
Poverty Rate
above 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 $68,466.

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Income Needed to Buy

βœ“ Affordable
$55k/year
Based on $175,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($68,466) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$176k/year
Based on $4100.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $176k vs median $68,466
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Gordon, TX

Gordon, Texas, is a small town located in Palo Pinto County, situated approximately 15 miles southwest of Possum Kingdom Lake. With a population of around 1,500 residents, it offers a tight-knit community atmosphere. The town is known for its charming rural setting, historical significance, and picturesque landscapes dotted with oak trees and rolling hills. Gordon is primarily a farming and ranching community, contributing to the agricultural heritage of the region. The nearby lake provides opportunities for outdoor activities such as fishing, boating, and camping, attracting nature lovers and those seeking a peaceful retreat. The area features local amenities, including small businesses, schools, and community services, reflecting a blend of traditional Texas hospitality and modern convenience. Various annual events and gatherings foster community spirit, making Gordon a quaint place to visit or reside. Whether you are looking for a serene escape or an understanding of rural Texan life, Gordon provides a unique glimpse into the heart of the Lone Star State.

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