Quick facts: Pharr, TX

Quick Facts

99.5
Cost of Living
below US average
80,179
Population
17.71
Crime Rate per 1000
below US average
$45,016
Median Income
below US average
$229,000
Median House Price
above US average
$1245.34
Average Rent
below US average
24%
Poverty Rate
above US average
7.6%
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 $45,016.

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Income Needed to Buy

βœ— Stretch
$72k/year
Based on $229,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $72k vs median $45,016
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Income Needed to Rent

⚠ Stretch
$53k/year
Based on $1245.34/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $53k vs median $45,016
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Pharr, TX

Pharr, Texas, is a vibrant city located in the southern part of the state, within Hidalgo County. Known for its rich cultural heritage and strong community spirit, Pharr is part of the McAllen-Edinburg-Mission metropolitan area. The city has a diverse population and a blend of Hispanic and American cultures, reflected in its local festivals, cuisine, and traditions. Pharr is recognized for its agricultural significance, being a major hub for the import and export of goods, particularly fruits and vegetables, due to its proximity to the Mexico border. The city is home to the Pharr International Bridge, facilitating trade and transportation between the two nations. In terms of amenities, Pharr offers various parks, recreational facilities, and a thriving downtown area that features shops, restaurants, and entertainment venues. The city also promotes education with several schools and institutions, ensuring quality learning opportunities for its residents. Pharr's warm climate allows for year-round outdoor activities, making it a great place for families and individuals looking to enjoy a close-knit community with easy access to nearby attractions and larger cities.

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