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Mineral Wells Independent

Learn about the people, housing, costs and businesses in Mineral Wells Independent, Texas

Median Home$172,615
Median Rent$1,123/month
Population20,527
Leading IndustriesManufacturing · Wholesale Trade · Education4% manufacturing
Home Value Growth+8.8% over 2 years
Family-Friendly24% of residentsslightly above average
Homeowners64% of occupied units
NotableVeteran Community8% of residents · top 27% nationally
Mineral Wells Independent
TX

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Real local data across mortgage, insurance, natural hazard, and place.

Frequently Asked Questions

What are today's mortgage rates in Mineral Wells Independent?

As of today, the 30-year fixed mortgage rate for Mineral Wells Independent is approximately 7.021% (7.061% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Mineral Wells Independent?

The median home value in Mineral Wells Independent is $173k. The median monthly rent is $1,123. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Mineral Wells Independent?

Home values in Mineral Wells Independent have increased 8.8% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Mineral Wells Independent?

Based on a typical all-in ownership cost of $984/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $42k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Mineral Wells Independent is $63k/year.

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What industries drive the economy in Mineral Wells Independent?

The largest employment sectors in Mineral Wells Independent are public administration (18%) and retail (14%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.