Quick facts: Midland, TX

Quick Facts

92.5
Cost of Living
below US average
134,444
Population
23.21
Crime Rate per 1000
above US average
$90,448
Median Income
above US average
$340,000
Median House Price
above US average
$2627.29
Average Rent
above US average
12%
Poverty Rate
above US average
2.9%
Unemployment Rate
below 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 $90,448.

🏠

Income Needed to Buy

βœ— Stretch
$107k/year
Based on $340,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $107k vs median $90,448
🏒

Income Needed to Rent

⚠ Stretch
$113k/year
Based on $2627.29/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $113k vs median $90,448
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Midland, TX

Midland, Texas, located in the heart of the Permian Basin, is a vibrant city known for its rich oil and gas history. As the county seat of Midland County, it has grown significantly due to the energy sector, attracting workers and businesses alike. With a population of around 140,000, Midland offers a blend of small-town charm and urban amenities. The city features a thriving arts scene, with institutions like the Midland Community Theatre and the Museum of the Southwest, which showcases regional art and history. Outdoor enthusiasts can enjoy parks and recreational areas like the popular Hogan Park, providing ample room for sports and family activities. Midland is also home to a growing array of dining and shopping options, reflecting its diverse community. The education system is robust, with several public and private schools, as well as higher education opportunities through Midland College. Additionally, its strategic location offers easy access to major highways, facilitating travel across Texas. Midland’s dynamic economy, cultural offerings, and community spirit make it a unique and welcoming place to live and visit.

πŸ” Search & Compare Places

First Location πŸ“