Quick facts: Abilene, TX

Quick Facts

90.0
Cost of Living
below US average
127,385
Population
24.22
Crime Rate per 1000
above US average
$59,254
Median Income
below US average
$289,000
Median House Price
above US average
$1802.69
Average Rent
above US average
12%
Poverty Rate
above US average
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 $59,254.

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Income Needed to Buy

βœ— Stretch
$91k/year
Based on $289,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $91k vs median $59,254
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Income Needed to Rent

⚠ Stretch
$77k/year
Based on $1802.69/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $77k vs median $59,254
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Abilene, TX

Abilene, Texas, often referred to as the "Key City," is located in Taylor and Jones counties in West Texas. With a rich history, Abilene was founded in the late 1800s and has since developed into a hub for cultural and economic activity in the region. Known for its strong sense of community, the city offers a blend of small-town charm and larger city amenities. The city is home to several institutions of higher education, including Abilene Christian University and Hardin-Simmons University, contributing to a vibrant student population and community events. Abilene boasts a variety of parks and outdoor recreational opportunities, including the scenic Lake Abilene and Abilene State Park, ideal for fishing, hiking, and camping. Culturally, Abilene has a thriving arts scene, with the Abilene Philharmonic, the Grace Museum, and various local festivals celebrating the city's heritage. The downtown area features unique shops, restaurants, and historic sites that reflect its rich past. Overall, Abilene is a welcoming city with a strong community spirit, making it an appealing place for residents and visitors alike.

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