Quick facts: Rockwall, TX

Quick Facts

105.3
Cost of Living
above US average
51,461
Population
16.46
Crime Rate per 1000
below US average
$114,799
Median Income
above US average
$560,000
Median House Price
above US average
$2438.87
Average Rent
above US average
5%
Poverty Rate
below US average
4.0%
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 $114,799.

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Income Needed to Buy

βœ— Stretch
$176k/year
Based on $560,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $176k vs median $114,799
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Income Needed to Rent

βœ“ Affordable
$105k/year
Based on $2438.87/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($114,799) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Rockwall, TX

Rockwall, Texas, is a vibrant city located in the northeastern part of the state, approximately 22 miles from Dallas. Known for its picturesque Lake Ray Hubbard, Rockwall boasts a mix of suburban charm and urban amenities. With a population that has steadily grown, it offers a warm community atmosphere and a range of recreational activities, including fishing, boating, and parks. The city's historic downtown area features unique shops, restaurants, and the famous Rockwall County Courthouse, adding to its small-town charm. Rockwall is also home to several annual events, such as the Rockwall Harbor Lights and the Art & Wine Festival, which celebrate local culture and community spirit. Education is a priority here, with Rockwall Independent School District serving the area and offering quality schooling options. Additionally, the city's proximity to Dallas makes it an ideal location for those commuting to the city while enjoying a more relaxed lifestyle. Overall, Rockwall combines the best of both worlds: scenic natural beauty and easy access to big-city conveniences.

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