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City Report · TX

Mineral Wells

Pop. 15,244·253rd most expensive in Texas·One of the most affordable rental markets in the US
Median rent (all units)
$1,174/mo
Year-over-Year
Stable
Month-over-Month
-1.5%
vs US Median
-$791
Falling (Monthly)
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Most AffordableMost Expensive
Mineral Wells · $1,174
More affordable than 93% of US cities · National median $1,965/mo
Affordability
25% of income
AFFORDABLE
0%30% benchmark60%+

At $1,174/mo, rent takes about 25% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$47,000/yr
Local median income
$55,929/yr
Based on the 30%-of-income rule using Mineral Wells's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$830
1 BR
$900
2 BR
$1,060
3 BR
$1,400
4 BR+
$1,720
Research median
$1,060/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: June 22, 2026

Annual cost
$14,088/yr
At $1,174/mo median
Rent Market Meter
Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are softening (down 0.0% YoY), so renters have negotiating leverage.
Based on rent-price momentum (+0.0% YoY, -1.5% MoM), not inventory.
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Demographics

Who lives here

Mineral Wells, TX is majority owner-occupied, has a median income below the national average, 11.6% of residents hold a bachelor's degree or higher.

Population
15,244
Median income
$55,929
Median age
38
Renters
41%
Age distribution
23%
23.5%
24.1%
13.2%
16.2%
Under 1823%
18–3423.5%
35–5424.1%
55–6413.2%
65+16.2%
Gender
50.2%
49.8%
Male50.2%
Female49.8%
Race & ethnicity
70.4%
28.5%
White70.4%
Black4.5%
Hispanic28.5%
Asian1.2%
Education (25+)
19.4%
38.6%
30.5%
No HS diploma19.4%
HS diploma38.6%
Some college30.5%
Bachelor's+11.6%
Housing tenure
59%
41%
Owner59%
Renter41%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Mineral Wells, TX has changed in 5 years

Income
$53,385 → $55,929
up 4.8%
Population
14,925 → 15,244
up 2.1%
Renter share
39.6% → 41%
+1.4 pts
Bachelor's+
13.3% → 11.6%
-1.7 pts
Median age
34.8 → 38
+3.2 yrs

Median household income grew from $53,385 to $55,929 between 2021 and 2024, a 4.8% shift. Headcount in the area went from 14,925 to 15,244 between 2021 and 2024, a 2.1% change.

Community

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View Mineral Wells rent history (2015–2026) →
Salary vs rent

Can you afford rent in Mineral Wells on your salary?

At $1,174/mo, how Mineral Wells rent compares to typical pay (30% rule).

By apartment size

Mineral Wells rent by bedroom count

Median rent for each apartment size in Mineral Wells. Click any size for full breakdown.

Local insights

Tips for renters in Mineral Wells

About renting in Mineral Wells, TX

Last updated: June 22, 2026

The median rent in Mineral Wells is $1,174/mo as of June 2026. A studio apartment averages $830/mo while a 2-bedroom runs $1,060/mo. One-bedroom apartments average $900/mo and 3-bedroom units go for $1,400/mo.

At 25% of local median household income ($55,929/yr), Mineral Wells ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Mineral Wells an affordable city for renters?

Mineral Wells is considered affordable for renters. At $1,174/mo, rent takes approximately 25% of the local median household income ($55,929/yr). The standard benchmark is 30%. Mineral Wells falls comfortably within that range.

How much income do you need to rent in Mineral Wells?

To keep rent at or below 30% of gross income, you would need to earn at least $47,000/year (~$23/hour full-time) to afford the median rent of $1,174/mo in Mineral Wells. The local median household income is $55,929/yr, meaning the typical Mineral Wells household meets that threshold.

Is rent going up or down in Mineral Wells?

Rent in Mineral Wells has been relatively stable over the past year, with a 0.0% change year over year as of June 2026.

How does Mineral Wells rent compare to other cities in Texas?

Mineral Wells is one of the more affordable cities in Texas for rent, ranking #253 out of 263 tracked cities at $1,174/mo.

What percentage of Mineral Wells residents rent vs. own?

According to Census data, approximately 41% of Mineral Wells households are renters, while 59% are owner-occupied. Mineral Wells leans toward homeownership, which can mean a smaller rental inventory.

How does Mineral Wells rent compare to the national average?

Mineral Wells's median rent of $1,174/mo is $791 (40%) below the US national median of $1,965/mo. Within Texas, it ranks #253 out of 263 tracked cities.
Income Affordability
25%
AFFORDABLE

At $1,174/mo, rent takes ~25% of Mineral Wells's median household income ($55,929/yr). The standard benchmark is 30%.

Mineral Wells 25%Benchmark 30%
State income taxNone
Run the Mineral Wells affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Mineral Wells, TX

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