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These days, finding an affordable place to live in the Penwell area can be challenging. Home prices in Penwell are now at a median cost of $123,896, lower than the Texas average of $322,096.
The average cost of rent is $1,041/mo in Penwell, primarily driven by the current value of real estate in the Penwell area. In Penwell, 19.63% of households rent, and 37.52% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Penwell is $5,296 per month. Households that rent pay about 19.65% of their income on rent here. Penwell’s most expensive areas are in the southern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Monahans, TX: equally priced homes
- Thorntonville, TX: higher priced homes
- Wickett, TX: higher priced homes
- Pyote, TX: higher priced homes
- Wink, TX: equally priced homes
- Midkiff, TX: higher priced homes
- St. Lawrence, TX: higher priced homes
- Mentone, TX: higher priced homes
- Water Valley, TX: higher priced homes
- Carlsbad, TX: higher priced homes
Cities with Similar Populations
- Shepp, TN: equally priced homes
- Martinstown, MO: less expensive homes
- Selden, VA: higher priced homes
- Selma, KS: higher priced homes
- Seymourville, LA: equally priced homes
- Seyppel, AR: higher priced homes
- Shageluk, AK: less expensive homes
- Sharon, MO: higher priced homes
- Sharon, OH: higher priced homes
- Shelfar, VA: higher priced homes
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