Quick facts: Mckinney, TX

Quick Facts

98.7
Cost of Living
below US average
207,507
Population
11.57
Crime Rate per 1000
below US average
$113,286
Median Income
above US average
$540,000
Median House Price
above US average
$1947.9
Average Rent
above US average
9%
Poverty Rate
below US average
4.4%
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 $113,286.

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Income Needed to Buy

βœ— Stretch
$169k/year
Based on $540,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $169k vs median $113,286
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Income Needed to Rent

βœ“ Affordable
$83k/year
Based on $1947.9/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($113,286) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Mckinney, TX

McKinney, Texas, is a vibrant city located in Collin County, about 30 miles north of Dallas. Known for its rich history and rapid growth, McKinney boasts a charming downtown area filled with preserved historic buildings, diverse shops, and an array of restaurants showcasing local cuisine. The city promotes a strong sense of community, featuring numerous parks, annual festivals, and activities for all ages. One of McKinney's highlights is the beautiful Adriatica, a unique mixed-use development designed to evoke a Croatian coastal village atmosphere. Outdoor enthusiasts can enjoy the numerous trails, parks, and recreational facilities, including the expansive Towne Lake Park. McKinney is also recognized for its excellent public schools and family-friendly environment, making it an attractive place for families and professionals alike. The city's economy is thriving, driven by a mix of technology, manufacturing, and healthcare sectors. With its charming atmosphere and modern amenities, McKinney serves as a delightful blend of small-town warmth and urban accessibility, making it one of the fastest-growing cities in North Texas.

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