Quick facts: Lockney, TX

Quick Facts

99.5
Cost of Living
below US average
1,453
Population
5.51
Crime Rate per 1000
below US average
$52,500
Median Income
below US average
$149,000
Median House Price
above US average
$1000.0
Average Rent
below US average
20%
Poverty Rate
above US average
5.0%
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 $52,500.

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Income Needed to Buy

βœ“ Affordable
$47k/year
Based on $149,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($52,500) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$43k/year
Based on $1000.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($52,500) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Lockney, TX

Lockney is a small town located in Floyd County, Texas. Known for its tight-knit community and rural charm, Lockney offers a glimpse of classic small-town life in America. Situated approximately 30 miles east of Lubbock, it serves as a quiet retreat from urban bustle, with a population of around 1,200 residents. The town features essential amenities, including local businesses, schools, and parks, all within a walkable area. Lockney is particularly proud of its agricultural roots, with nearby farms contributing to its economy. The annual events often celebrate this heritage, featuring local crafts, food, and music. Outdoor enthusiasts can enjoy the peaceful surroundings, with opportunities for hiking and bird-watching in the neighboring landscapes. Lockney's friendly atmosphere and picturesque scenery make it an inviting destination for those looking to experience authentic Texan hospitality. Overall, Lockney encapsulates the essence of small-town living, making it a unique place to visit or reside.

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