HOUSING * INCOME * CAPITAL

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: 


 
Demographics

Spearman                                       National Average

Population                                                                  3508                                            8385
Median Age                                                               35.27 years                                 36.00 years
Median Income                                                        $35412                                      $36169.94
% of Single Households                                              35.79%                                       40.55%
% of Married Housholds                                             64.21%                                       59.40%
% w/children                                                               73.09%                                       72.14%
Average size                                                               2.63 people                                 4.05 people
% of College or better                                                 21.44%                                      20.37%
% White Collar                                                           45.54%                                      46.00%

 
Cost of Living

      Spearman                                         National Average

COL Index                                                                  105                                                 100
Avg Utility Cost                                                       $2734.56                                        $2567.34
Avg Consumer Exp                                                $39055.26 per year                        $37034.21 per year
Avg Education Exp                                                    $352.16    per year                         $359.07    per year
Avg Entertainment Exp                                             $2075.68  per year                         $1965.76   per year
Avg Transportation Exp                                           $8028.59  per year                          $7475.12  per year
Avg Retail Exp                                                       $17663.25 per year                         $16934.35 per year
Avg Non-retail Exp                                                $21392.01 per year                         $20096.54 per year
AVERAGE COST PER SQ FT

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 LOST COST

per frontage foot : $35 to $80
Typical rent for 1,200 - 1,500 sqft three bedroom home: $350 - $400 per month

AVERAGE MONTHLY APARTMENT RENTAL

1 bedroom= $240 for  800 sq ft
2 bedroom= $250 for  1000 sq ft
3 bedroom =$350 for 1100 sq ft

Spearman enjoys a robust economic base as evidenced by the following statistics
Median Family Income Deposits per Capita Unemployment
Spearman: $32,535 *1 $37,500 *2 4.0% *4
State avg: $31,553 *1 $8,100 *2 6.1% *5
  1. 2000 census
  2. as of November '00
  3. based on 12/99 total state deposits and fall '00  population forecast by state comptroller
  4. 2000 census
  5. Texas Comptroller of Public accounts, 10/00 issue of fiscal notes
Quality of Life

Spearman                                             National Average

Avg Winter Hi Temp                                  58.83 degrees                              40.70 degrees
Avg Winter Lo Temp                                 32.10 degrees                              19.35 degrees
Avg Summer Hi Temp                              92.12 degrees                              86.40 degrees
Avg Summer Lo Temp                              67.80 degrees                              62.48 degrees
Average Precipitation                                33.45 inches                                 37.69 inches
Air Quality Index                                             4                                                    3.42
Total Crime Index                                          41                                                  100 (per county average)
Personal Crime Index                                    39                                                  100 (per county average)
Property Crime Index                                    42                                                  100 (per county average)
Culture Index                                                  72                                                  86.95

 
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