Quick facts: North wales, PA

Quick Facts

101.5
Cost of Living
above US average
3,418
Population
23.41
Crime Rate per 1000
above US average
$113,375
Median Income
above US average
$340,000
Median House Price
above US average
$2465.74
Average Rent
above US average
3%
Poverty Rate
below US average
3.4%
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 $113,375.

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Income Needed to Buy

βœ“ Affordable
$107k/year
Based on $340,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($113,375) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$106k/year
Based on $2465.74/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($113,375) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for North wales, PA

North Wales is a quaint borough located in Montgomery County, Pennsylvania. Nestled just 30 miles north of Philadelphia, this charming community is known for its small-town atmosphere while still being accessible to the amenities of a major city. The borough covers a modest area of approximately 0.5 square miles and is primarily residential, boasting tree-lined streets and classic American homes. Despite its small size, North Wales offers a variety of local shops, cafes, and restaurants, providing residents with convenient options for dining and shopping. The town is also known for its strong sense of community, hosting events like summer concerts and holiday celebrations that foster connections among residents. Outdoor enthusiasts can enjoy nearby parks, including the nearby Montgomery Township Community Park, which offers recreational facilities and scenic walking trails. Additionally, the borough is served by the North Penn School District, known for its strong academic programs. With its blend of suburban charm and proximity to urban conveniences, North Wales is an appealing destination for families and individuals looking for a peaceful yet connected lifestyle.

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