Quick facts: Commerce, TX

Quick Facts

95.2
Cost of Living
below US average
9,282
Population
21.87
Crime Rate per 1000
below US average
$41,382
Median Income
below US average
$296,900
Median House Price
above US average
$1223.6
Average Rent
below US average
18%
Poverty Rate
above US average
4.5%
Unemployment Rate
above 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 $41,382.

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Income Needed to Buy

βœ— Stretch
$93k/year
Based on $296,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $93k vs median $41,382
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Income Needed to Rent

⚠ Stretch
$52k/year
Based on $1223.6/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $52k vs median $41,382
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Commerce, TX

Commerce, Texas, is a quaint city located in the northeastern part of the state, primarily in Hunt County. With a population of just over 9,000 residents, it offers a close-knit community atmosphere combined with the charm of a college town, as it is home to Texas A&M University-Commerce. The university significantly influences the local economy and cultural vibrancy, hosting various events, sports, and activities throughout the year. The city's historical roots can be traced back to the late 19th century, evident in its preserved architecture and landmarks. Commerce boasts a variety of parks and recreational areas, providing residents and visitors with opportunities for outdoor activities such as picnicking, walking, and sports. The city's location near major highways offers easy access to nearby larger cities like Greenville and Paris, creating a balance between small-town tranquility and regional connectivity. Commerce offers a rich blend of Texan culture, educational opportunities, and community engagement, making it a charming place for both residents and visitors. Whether you're exploring the local shops, enjoying a festival, or attending a university event, Commerce showcases the warmth and spirit of East Texas.

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