Quick facts: Southlake, TX

Quick Facts

128.0
Cost of Living
above US average
31,102
Population
12.6
Crime Rate per 1000
below US average
$250,001
Median Income
above US average
$1,650,000
Median House Price
above US average
$6972.79
Average Rent
above US average
Poverty rate Data is updating, will be available soon
4.0%
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 $250,001.

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Income Needed to Buy

βœ— Stretch
$518k/year
Based on $1,650,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $518k vs median $250,001
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Income Needed to Rent

⚠ Stretch
$299k/year
Based on $6972.79/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $299k vs median $250,001
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Southlake, TX

Southlake, Texas, is a vibrant suburban city located in the Dallas-Fort Worth Metroplex and is part of Tarrant and Denton counties. Known for its strong community spirit and affluent lifestyle, Southlake boasts a picturesque environment with well-maintained parks and green spaces. The city is home to Southlake Town Square, a premier shopping and dining destination that offers a mix of upscale shops, restaurants, and entertainment options. Education is highly regarded in Southlake, with the city served by the Southlake Carroll Independent School District, which consistently ranks among the top in Texas. The area is also known for the Southlake Carroll High School football team, which has a rich tradition of excellence. The city offers a range of recreational activities, including golf courses, sports complexes, and miles of scenic trails. It hosts annual events such as the Southlake Art in the Square and the Southlake Oktoberfest, which draw residents and visitors alike. With its proximity to major highways and DFW International Airport, Southlake provides residents with convenient access to the broader Dallas-Fort Worth area, making it an attractive place to live, work, and play.

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