Quick facts: Knox city, TX

Quick Facts

99.5
Cost of Living
below US average
1,036
Population
22.2
Crime Rate per 1000
below US average
$37,368
Median Income
below US average
$150,000
Median House Price
above US average
$1563
Average Rent
above US average
15%
Poverty Rate
above US average
3.2%
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 $37,368.

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Income Needed to Buy

βœ— Stretch
$47k/year
Based on $150,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $47k vs median $37,368
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Income Needed to Rent

⚠ Stretch
$67k/year
Based on $1563/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $67k vs median $37,368
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Knox city, TX

Knox City is a small rural town located in Knox County, Texas. With a population of around 1,100 residents, it exudes a close-knit community atmosphere characterized by friendliness and a slower pace of life. The town is situated in the north-central part of the state and is surrounded by the picturesque landscapes of the Texas Plains. Agriculture plays a significant role in the local economy, with many residents involved in farming and ranching. The town has a rich history, reflected in its historical buildings and local landmarks. Knox City is also known for its community events and festivals, which bring residents together and celebrate local culture. The climate in Knox City is typical of North Texas, experiencing hot summers and mild winters, making it ideal for outdoor activities. Local schools provide education opportunities for families, and the town is served by various local businesses that cater to residents' everyday needs. Overall, Knox City offers a peaceful rural lifestyle with a strong sense of community.

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