Living in Farwell, Texas
Cost of living, income, home prices, rent and demographics of Farwell · Census data 2020–2024
Farwell has 1,306 residents with a median age of 32.3. The median household income is $56,875 (28% lower than the Texas median), the median home value is $149,000, the median rent is $1,338/month.
Farwell is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Farwell at a glance
- Population
- 1,306
- Median age
- 32.3State: 35.6
- Median household income
- $56,875State: $78,476
- Median home value
- $149,000State: $283,800
- Median rent
- $1,338/moState: $1,403
- Homeowners
- 65.8%
- Bachelor's degree or higher
- 18.3%
- Average commute
- 18 min
Is Farwell a good place to live?
Pros: Home values 47% lower than the state median; an average commute of 18 minutes.
Cons: Median household income 28% lower than the Texas median; a poverty rate of 16.3%.
The weather is best in April–May and September–October.
Cost of living in Farwell
Housing is the biggest part of the cost of living. In Farwell the median home value is $149,000, 55% lower than the U.S. median. Renters pay a median of $1,338 per month, which is 36.8% of household income. Homeowners with a mortgage pay $1,958 a month in housing costs.
Farwell median household income
The median household income in Farwell is $56,875 and the income per person is $25,185. 16.3% of residents live below the poverty line (Texas: 13.8%).
Housing in Farwell: homes for sale and rent
- Housing units
- 544
- Owner-occupied
- 65.8%
- Renter-occupied
- 34.2%
- Vacant
- 17.8%Includes seasonal homes
- Median year built
- 1970
- Average household size
- 2.79
Farwell demographics
- Population
- 1,306
- Median age
- 32.3
- Under 18
- 36%
- 65 and older
- 12.4%
- Households
- 447
- Foreign-born
- 7.7%
- Veterans
- 18.6%Adults 18+
Hispanic or Latino can be of any race. Population history of Farwell ›
Education in Farwell
18.3% of adults 25 and older in Farwell have a bachelor's degree or higher (Texas: 33.8%), and 3.1% have a graduate or professional degree.
Jobs and commute in Farwell
- Unemployment rate
- 0%State: 5.3%
- Average commute
- 18 minState: 27 min
- Work from home
- 9.5%
- Drive alone
- 86.3%
- Public transit
- 0%
- Walk to work
- 1.9%
- Homes with broadband
- 96.9%
Farwell vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Farwell | 1,306 | $56,875 | $149,000 | $1,338 |
| Texico | 967 | $65,000 | $95,900 | $973 |
| Clovis | 37,942 | $54,820 | $169,400 | $988 |
| Bovina | 1,488 | $48,500 | $113,700 | $1,033 |
| Cannon AFB | 2,405 | $63,000 | — | $1,206 |
| Muleshoe | 5,667 | $69,097 | $98,600 | $938 |
| Portales | 11,968 | $50,555 | $133,400 | $903 |
| Friona | 4,102 | $66,801 | $125,500 | $1,038 |
| Floyd | 134 | $51,250 | — | — |
More for people moving to Farwell
Farwell ZIP code ›Weather and climate ›Living in Farwell: FAQ
What is the median household income in Farwell, TX?
The median household income in Farwell is $56,875, 28% lower than the Texas median of $78,476 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Farwell?
The median home value in Farwell is $149,000, compared with $283,800 in Texas.
How much is rent in Farwell?
The median gross rent in Farwell is $1,338 per month, about 36.8% of household income.
Is Farwell, TX a good place to live?
Pluses: home values 47% lower than the state median; an average commute of 18 minutes. Minuses: median household income 28% lower than the Texas median; a poverty rate of 16.3%.
What is the median age in Farwell?
The median age in Farwell is 32.3 years (Texas: 35.6).
How long is the commute in Farwell?
The average commute to work in Farwell is 18 minutes; 9.5% of workers work from home.
What is the unemployment rate in Farwell?
The unemployment rate in Farwell is 0% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Farwell?
18.3% of adults in Farwell have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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