Quick facts: Mansfield, TX

Quick Facts

112.3
Cost of Living
above US average
76,724
Population
14.83
Crime Rate per 1000
below US average
$112,465
Median Income
above US average
$567,500
Median House Price
above US average
$2196.92
Average Rent
above US average
6%
Poverty Rate
below US average
4.1%
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 $112,465.

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Income Needed to Buy

βœ— Stretch
$178k/year
Based on $567,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $178k vs median $112,465
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Income Needed to Rent

βœ“ Affordable
$94k/year
Based on $2196.92/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($112,465) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Mansfield, TX

Mansfield, Texas, is a vibrant city located in the Dallas-Fort Worth metroplex, straddling Tarrant and Ellis counties. Known for its family-friendly atmosphere, Mansfield boasts a growing population of approximately 70,000 residents. The city features a charming blend of suburban living with easy access to urban amenities. Mansfield offers a variety of parks, including the expansive Joe Pool Lake and the popular Mansfield State Park, providing ample opportunities for outdoor recreational activities such as hiking, fishing, and picnicking. The city's strong educational system is highlighted by the Mansfield Independent School District, which is known for its academic achievements and extracurricular programs. Culturally, Mansfield hosts several community events throughout the year, including the annual Mansfield Music Festival and the Holiday Tree Lighting Ceremony, drawing locals and visitors alike. The historic downtown area features a mix of boutiques, dining, and entertainment options, contributing to the city's charming small-town feel. With its strategic location near major highways, Mansfield provides residents with a convenient commute to nearby cities like Arlington and Fort Worth, making it an attractive option for families and professionals alike.

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