Quick facts: Paola, KS

Quick Facts

97.6
Cost of Living
below US average
5,738
Population
15.34
Crime Rate per 1000
below US average
$69,420
Median Income
below US average
$300,000
Median House Price
above US average
$1299
Average Rent
below US average
5%
Poverty Rate
below US average
2.5%
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 $69,420.

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Income Needed to Buy

βœ— Stretch
$94k/year
Based on $300,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $94k vs median $69,420
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Income Needed to Rent

βœ“ Affordable
$56k/year
Based on $1299/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($69,420) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Paola, KS

Paola, Kansas, is a charming small town located in Miami County, approximately 50 miles south of Kansas City. Founded in the 1850s, Paola is known for its rich history and friendly community. The town is nestled in a scenic area with rolling hills and lush landscapes, making it a pleasant place for outdoor activities. Paola boasts a vibrant downtown area with a mix of local shops, restaurants, and historical sites. The Miami County Historical Museum offers insights into the regional history, while the annual Paola Rodeo attracts visitors with its thrilling competitions and family-friendly atmosphere. The city is also home to several parks, including the popular Paola Lake and its adjacent recreational facilities, providing opportunities for fishing, boating, and picnicking. Educationally, Paola is served by the Paola School District, which emphasizes strong community involvement and student achievement. With its blend of small-town charm and access to modern amenities, Paola is an attractive location for families and individuals seeking a tight-knit community with a slower pace of life, all while being close to the metropolitan allure of Kansas City.

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