Quick facts: Galveston, TX

Quick Facts

100.2
Cost of Living
above US average
53,089
Population
33.83
Crime Rate per 1000
above US average
$57,453
Median Income
below US average
$288,000
Median House Price
above US average
$1863.09
Average Rent
above US average
16%
Poverty Rate
above US average
4.6%
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 $57,453.

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Income Needed to Buy

βœ— Stretch
$90k/year
Based on $288,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $90k vs median $57,453
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Income Needed to Rent

⚠ Stretch
$80k/year
Based on $1863.09/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $80k vs median $57,453
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Galveston, TX

Galveston, Texas, is a coastal city located on Galveston Island, approximately 50 miles southeast of Houston. Known for its rich history and vibrant culture, Galveston boasts beautiful beaches, historic architecture, and a lively arts scene. The island features several attractions, including the Galveston Island Historic Pleasure Pier, the Moody Gardens with its aquarium and rainforest exhibits, and the Strand Historic District, where visitors can explore shops, restaurants, and galleries within well-preserved 19th-century buildings. Galveston also offers outdoor recreational activities, such as fishing, boating, and birdwatching, alongside its long stretches of sandy beaches ideal for sunbathing and water sports. The city has a strong sense of community and hosts various festivals throughout the year, including Mardi Gras and the historic Tall Ship Elissa festival. In addition to its leisure offerings, Galveston serves as a major cruise port and a hub for the oil and gas industry. Its temperate climate makes it a year-round destination for tourists and locals alike, enhancing its appeal as both a holiday spot and a lively residential community.

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