Quick facts: Allen, TX

Quick Facts

99.5
Cost of Living
below US average
111,551
Population
9.87
Crime Rate per 1000
below US average
$121,259
Median Income
above US average
$552,100
Median House Price
above US average
$1921.27
Average Rent
above US average
5%
Poverty Rate
below US average
3.9%
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 $121,259.

🏠

Income Needed to Buy

βœ— Stretch
$173k/year
Based on $552,100 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $173k vs median $121,259
🏒

Income Needed to Rent

βœ“ Affordable
$82k/year
Based on $1921.27/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($121,259) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Allen, TX

Allen, Texas, located in Collin County, is a vibrant suburban city within the Dallas-Fort Worth metroplex. Known for its family-friendly atmosphere, Allen boasts a population of around 100,000 residents and offers a high quality of life. The city features an array of parks, recreational facilities, and trails, making it ideal for outdoor activities. The Allen Event Center serves as a hub for entertainment, hosting concerts, sports events, and community gatherings. Allen's economy is flourishing, with a mix of industries including technology, retail, and healthcare. The city is home to several shopping centers, such as The Village at Allen and Allen Premium Outlets, catering to diverse retail needs. Allen also takes pride in its highly rated public schools, part of the Allen Independent School District, which contribute to the community's appeal for families. Culturally, Allen hosts various events and festivals throughout the year, enriching the local community experience. With its strategic location, residents enjoy easy access to Dallas, making it a convenient choice for those seeking suburban living close to urban amenities.

πŸ” Search & Compare Places

First Location πŸ“