Quick facts: Wylie, TX

Quick Facts

95.4
Cost of Living
below US average
60,943
Population
6.37
Crime Rate per 1000
below US average
$109,465
Median Income
above US average
$499,000
Median House Price
above US average
$2393.1
Average Rent
above US average
4%
Poverty Rate
below US average
3.7%
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 $109,465.

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Income Needed to Buy

βœ— Stretch
$157k/year
Based on $499,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $157k vs median $109,465
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Income Needed to Rent

βœ“ Affordable
$103k/year
Based on $2393.1/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($109,465) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Wylie, TX

Wylie, Texas, a vibrant city located in Collin and Dallas counties, is part of the Dallas-Fort Worth metropolitan area. Known for its rapid growth and suburban charm, Wylie combines small-town hospitality with modern amenities. The city boasts a rich history, with roots dating back to the late 1800s when it was primarily an agricultural community. Today, Wylie offers a diverse range of recreational opportunities, highlighted by parks such as the scenic Olde City Park and the expansive Wylie Recreation Center. The city hosts numerous annual events, including the Wylie Arts Festival and the Wylie Balloon Festival, attracting residents and visitors alike. Wylie also prides itself on its strong educational system, with several highly-rated public schools operating under the Wylie Independent School District. The community is family-friendly, with a variety of housing options, shopping areas, and dining establishments that cater to all tastes. With its strategic location near major highways, Wylie provides easy access to the larger metropolitan amenities of Dallas while maintaining its own unique identity. The city's welcoming atmosphere and ongoing development make it an increasingly popular place to live and work in North Texas.

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