Quick facts: Vernon, TX

Quick Facts

99.5
Cost of Living
below US average
9,745
Population
13.24
Crime Rate per 1000
below US average
$47,528
Median Income
below US average
$195,000
Median House Price
above US average
$1563
Average Rent
above US average
19%
Poverty Rate
above US average
5.3%
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 $47,528.

🏠

Income Needed to Buy

βœ— Stretch
$61k/year
Based on $195,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $61k vs median $47,528
🏒

Income Needed to Rent

⚠ Stretch
$67k/year
Based on $1563/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $67k vs median $47,528
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Vernon, TX

Vernon, Texas, located in Wilbarger County, is a small city with a rich history and a close-knit community. As of the latest data, Vernon has a population of around 11,000 residents, making it a quaint yet vibrant place to live. The city is situated in the northern part of the Texas panhandle, approximately 130 miles northwest of Fort Worth. Vernon is known for its unique blend of western heritage and small-town charm. The area is home to several historical landmarks, including the Wilbarger County Museum, which showcases the region's history through various exhibits. The city's parks, such as the popular Red River Valley Museum, offer recreational activities and a venue for community events. The local economy is primarily based on agriculture, along with manufacturing and retail services. Vernon is also well-connected with major highways, facilitating easy access to neighboring towns and cities. Outdoor enthusiasts will enjoy nearby Lake Vernon, which provides fishing, boating, and camping opportunities. The local schools and community initiatives emphasize a family-friendly atmosphere, making Vernon a welcoming place for residents and visitors alike.

πŸ” Search & Compare Places

First Location πŸ“