Quick facts: Amarillo, TX

Quick Facts

95.5
Cost of Living
below US average
201,291
Population
42.4
Crime Rate per 1000
above US average
$60,628
Median Income
below US average
$428,000
Median House Price
above US average
$1178
Average Rent
below US average
14%
Poverty Rate
above US average
3.4%
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 $60,628.

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Income Needed to Buy

βœ— Stretch
$134k/year
Based on $428,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $134k vs median $60,628
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Income Needed to Rent

βœ“ Affordable
$50k/year
Based on $1178/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($60,628) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Amarillo, TX

Amarillo, Texas, located in the Texas Panhandle, is known for its rich Western heritage and vibrant community. With a population of around 200,000, it serves as a cultural and economic hub for the region. The city has a diverse economy, with major industries including agriculture, livestock, and energy, particularly natural gas and oil. Amarillo is home to several attractions, including the iconic Cadillac Ranch, where classic cars are whimsically buried nose-first in the ground, and the American Quarter Horse Hall of Fame & Museum, celebrating the state's equine culture. The historic Route 66 runs through Amarillo, adding to its nostalgic charm. The city boasts numerous parks and recreational areas, such as Palo Duro Canyon State Park, the second-largest canyon in the U.S., offering hiking, camping, and stunning views. Amarillo also hosts various annual events, including the Tri-State Fair & Rodeo, drawing visitors from across the state. With a strong sense of community and a blend of urban amenities and outdoor adventures, Amarillo captures the essence of Texas life.

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