Quick facts: Wheeler, TX

Quick Facts

99.5
Cost of Living
below US average
4,807
Population
3.74
Crime Rate per 1000
below US average
$58,158
Median Income
below US average
$149,900
Median House Price
above US average
$1563
Average Rent
above US average
14%
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 $58,158.

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Income Needed to Buy

βœ“ Affordable
$47k/year
Based on $149,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($58,158) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$67k/year
Based on $1563/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $67k vs median $58,158
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Wheeler, TX

Wheeler, Texas, is a small town located in the Texas Panhandle, known for its rural charm and tight-knit community. With a population of around 1,500 residents, Wheeler serves as the county seat of Wheeler County. The town boasts a rich history, founded in the late 19th century, and features several historic buildings and landmarks, such as the Wheeler County Courthouse and the local rail depot. Wheeler is situated along U.S. Highway 83, making it easily accessible and a hub for travelers exploring the Panhandle. The town offers various outdoor recreational opportunities, including fishing and hunting in the nearby Lake Marvin and extensive open ranch land. Additionally, Wheeler hosts local community events throughout the year, fostering a sense of belonging among residents. Local amenities include essential services, small businesses, and restaurants, providing a quaint, small-town feel. The education system in Wheeler is served by the Wheeler Independent School District, emphasizing community engagement and student achievement. Overall, Wheeler, TX, presents a peaceful, welcoming environment for families and visitors alike.

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