Quick facts: Groves, TX

Quick Facts

99.5
Cost of Living
below US average
16,798
Population
14.7
Crime Rate per 1000
below US average
$64,737
Median Income
below US average
$200,000
Median House Price
above US average
$1743.89
Average Rent
above US average
10%
Poverty Rate
below US average
4.2%
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 $64,737.

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Income Needed to Buy

βœ“ Affordable
$63k/year
Based on $200,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($64,737) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$75k/year
Based on $1743.89/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $75k vs median $64,737
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Groves, TX

Groves is a charming city located in southeast Texas within Jefferson County, situated near the Gulf of Mexico. With a population of around 16,000 residents, Groves is part of the Beaumont-Port Arthur metropolitan area. The city features a rich history connected to the oil industry and is known for its vibrant community spirit. Groves boasts a range of amenities, including parks, schools, and local businesses, creating a welcoming atmosphere for families and newcomers. One of the highlights of the city is the nearby Port Neches River, which offers recreational opportunities such as fishing and boating. The city's economy is significantly influenced by the petroleum and chemical industries, given its proximity to several refineries and plants. Groves also hosts various community events and festivals throughout the year, fostering a strong sense of local pride. With its friendly vibe, rich history, and access to natural resources, Groves, TX, provides a unique blend of small-town charm and modern amenities, making it an appealing place to live or visit.

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