Quick facts: Palestine, TX

Quick Facts

99.5
Cost of Living
below US average
18,981
Population
32.98
Crime Rate per 1000
above US average
$43,759
Median Income
below US average
$239,900
Median House Price
above US average
$2793.33
Average Rent
above US average
12%
Poverty Rate
above 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 $43,759.

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Income Needed to Buy

βœ— Stretch
$75k/year
Based on $239,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $75k vs median $43,759
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Income Needed to Rent

⚠ Stretch
$120k/year
Based on $2793.33/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $120k vs median $43,759
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Palestine, TX

Palestine, Texas, located in Anderson County, is a charming small town with a rich history and a vibrant community. Founded in the 1850s, it serves as a regional hub for agriculture and commerce. The town is known for its picturesque downtown area, which features historic buildings, boutique shops, and local eateries. Palestine is surrounded by beautiful natural landscapes, including the nearby Davy Crockett National Forest, providing plenty of outdoor activities such as hiking, fishing, and camping. The town also boasts a variety of parks and recreational facilities, making it a great place for families. Culturally, Palestine is home to several annual events, including the popular Dogwood Jamboree, which celebrates the blooming of dogwood trees, and the Texas State Railroad, where visitors can enjoy scenic train rides. The town's historic attractions, like the Palestine Depot and the Museum for East Texas Culture, reflect its rich heritage. With a friendly atmosphere and a strong sense of community, Palestine offers a welcoming environment for residents and visitors alike.

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