HOUSING, CAPITAL, AND INCOME

The cost of housing, whether buying, renting, or building, is one of the key factors which contributes to the low cost of living in Spearman. In many cases, people moving to Spearman can sell a home in another part of the country, then build a comparable home in Spearman and have money left to put into the bank. Consider these facts:

Average cost per square foot
for existing home: High=$40 Medium=$30 Low=$20
for a new home: High=$65 Medium=$60 Low=$55

Typical lot size: 75' x 125' to 100' x 140'

Typical lot cost: $2,000 to $5,000

Average lot cost per frontage foot : $35 to $80

Typical rent for 1,200 - 1,500 sqft three bedroom home: $350 - $400 per month.

Average apartment rental, monthly:

1 bedroom= $240, 800 sq ft

2 bedroom= $250, 1000 sq ft

3 bedroom= $350, 1100 sq ft

Spearman enjoys a robust economic base as evidenced by the following statistics:

1. 1990 census
2. as of November '95
3. based on 12/94 total state deposits and fall '93 population forecast by state comptroller
4. 1990 census
5. Texas Comptroller of Public accounts, 10/95 issue of fiscal notes