Quick facts: Panhandle, TX

Quick Facts

99.5
Cost of Living
below US average
2,361
Population
0.42
Crime Rate per 1000
below US average
$83,867
Median Income
above US average
$275,000
Median House Price
above US average
$1563
Average Rent
above US average
Poverty rate Data is updating, will be available soon
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 $83,867.

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Income Needed to Buy

βœ— Stretch
$86k/year
Based on $275,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $86k vs median $83,867
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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 ($83,867) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Panhandle, TX

Panhandle, Texas, is a small town located in the northwestern part of the state, within Carson County. With a population of around 2,600 residents, it embodies the charm of rural West Texas. The town was established in the early 1900s and has a rich history tied to the region's agricultural and ranching roots. The area around Panhandle is characterized by wide-open spaces and stunning West Texas landscapes, including plains and mesquite trees. The town offers a quaint, small-town atmosphere with local businesses and community events that bring residents together. Nearby attractions include the scenic Palo Duro Canyon, the second-largest canyon in the U.S., which is just a short drive away. Panhandle also serves as a regional hub for farming and ranching activities. The town hosts various local festivals and events throughout the year, reflecting its tight-knit community spirit. Whether you're interested in exploring the outdoors, experiencing Texas culture, or simply enjoying small-town life, Panhandle has a warm and inviting atmosphere.

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