Beating Broke

These Are The 5 Poorest Zip Codes In Texas and 5 Of the Richest

January 3, 2025 By Teri Monroe Leave a Comment

Wealthiest and poorest zip code in Texas — Image Source: 123rf.com

Texas is known for its vibrant culture, food, and quality of life. From Houston’s Space Center to The Alamo, Texas has much to offer visitors and residents alike. The state has experienced significant growth in recent years, and its economy has boomed. Many industries have flocked to the state, creating high-income wealthy cities and towns within the state. But at the same time, some areas continue to struggle with poverty. If you’re looking to move to the state, we’ll help you determine the best places to live. Read on to learn about each Texas zip code.

Poorest Texas Zip Codes

Even though the percentage of people living in poverty in Texas declined slightly over a five-year period from 2018 to 2022, the state is still ranked eleventh in the country for the highest poverty rates. In total, Texas is home to nearly 7.2 million poor and low-income eligible voters who make up 33.76% of the population.

1. Tennessee Colony

Tennessee Colony, Texas is ranked as the number nine poorest zip code in the nation. If you don’t know where it is, Tennessee Colony is an unincorporated town in Anderson County, Texas. Only a few hundred people live there. It’s also home to three major Texas Department of Criminal Justice correctional facilities including the George Beto Unit, the Coffield Unit, and the Mark W. Michael Unit. 100% of those who live there are living in poverty.

2. Pharr

Pharr is a suburb of McAllen, Texas. It is connected by a bridge to the Mexican city of Reynosa, Tamaulipas. Just under 80,000 people live in Pharr. Of that 80,000, more than 40% of its population lives below the poverty line.

3. San Antonio

San Antonio Riverwalk poorest zip code in Texas — Image Source: 123rf.com

Of the five largest cities in Texas, San Antonio has the lowest median household income. In 2022, about 18% of San Antonio’s residents lived below the poverty line. In reality, the rate of poverty is lowered by more affluent San Antonio suburbs like the North side of Bexar County. Ultimately, the majority of San Antonio residents can’t afford the essentials, including health insurance.

4. Carrizo Hill

Carrizo Hill is located in Dimmit County in Southern Texas. Nearly all of Carrizo Hill’s residents live below the poverty line and earn under $10,000 per year. A small town, the population is around 550 in Carrizo Hill.

5. Salida del Sol Estates

The poverty rate in Salida del Sol Estates is 66.7%, making it one of the poorest zip codes in Texas. It is located in Hidalgo County, Texas just outside of Penitas. Its population is just over 6,000 people.

Richest Texas Zip Codes

Texas is home to many millionaires who enjoy the income-tax-free state. According to The Tax Foundation, Texas is ranked number 13 for its business-friendly tax climate. Here are five of Texas’ wealthiest zip codes.

1. Downtown Houston

Oil and gas have continued to fuel Houston’s economic growth. Oil companies like Phillips 66, ConocoPhillips, Occidental Petroleum, Halliburton, and ExxonMobil all have their headquarters in Houston. Located near the heart of the city, River Oaks is one of the most affluent and iconic neighborhoods in Houston.

2. Southlake

Located in the Dallas-Fort Worth metroplex, Southlake is one of Texas’ wealthiest zip codes. High demand from affluent families and limited housing supply make this area very expensive to live in. GoBankingRates ranked Southlake as one of the wealthiest American suburbs in 2024. The report found the typical home in the area is worth more than $1.24 million and residents on average make about $360,078 per year.

3. Bellaire

Another town close to Houston, Bellaire is known for its ideal location. Close to amenities like the Galleria shops, NRG Park, and Texas Medical Center, the quality of life in Bellaire is one of the best in the state. The crime rate is also 20% lower than the national average.

4. Colleyville

Another town in the Dallas Fort-Worth Metroplex, Colleyville is a wealthy zip code in Texas. Close to many of the top aviation, finance, and technology companies, Colleyville attracts high-earning residents. It also has the highest percentage of college graduates in Texas.

5. West University Place

West University Place was ranked the third wealthiest suburb in the nation. Also a suburb of Houston, West University Place has a small-town feel and top-ranked schools. Strict development regulations and lack of land have made West University Place a very desirable place to live. Additionally, the community is focused on maintaining its character and the suburb boasts many parks, vibrant restaurants, and community events.

Texas’ Diverse Zip Codes

From extreme poverty to some of the richest cities and towns in the nation, Texas zip codes are nothing short of diverse. The wealthiest woman in the world Walmart heiress Alice Walton even calls Fort Worth home. If you’re looking to buy a home in Texas, there are excellent opportunities for investment if you choose the right zip code.

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5 Unintended Consequences Of Breaking an Apartment Lease

January 2, 2025 By Teri Monroe Leave a Comment

Are you considering breaking the lease on your apartment? Sometimes life events like a new job, sudden job loss, or buying a home can cause us to break an apartment lease. However, in these circumstances, your landlord has no obligation to let you out of your lease. Before you notify your landlord, you should be aware of the consequences that could stay with you for years to come and it can be difficult to find no credit check apartments. So, here are some things you need to consider before you abandon your current lease.

1. Loss of Security Deposit

Responsible for unpaid rent when you break an apartment lease — Image Source: Pexels

The most immediate consequence of breaking your apartment lease is losing your security deposit. This is the most common consequence of breaking an apartment lease. If you paid the first month’s rent, last month’s rent, and a security deposit, you should also expect to lose your last month’s rent if you break your lease.

2. Responsible for Unpaid Rent

Your landlord will probably also hold you responsible for any unpaid rent. Depending on the terms of your lease, some landlords will allow you to find someone else to rent your apartment and if successful, won’t charge you for the remainder of the lease. Every situation is different though and your landlord has no obligation to give you this curtsey. Check the early termination clause of your lease for more information. There may be a buyout clause in your lease detailing how much you will owe if you break your lease and how much notice you need to give.

3. Impact on Rental History

Breaking apartment lease impact on rental history no credit check apartment — Image Source: Pexels

Landlords often scrutinize past rental history when you apply for a new lease. Breaking an apartment lease could complicate your search for a new apartment and raise concerns with your new landlord. You may have to pay additional fees to get approved or your application could get denied because of a poor rental history.

4. Legal Action by Landlord

If you break your apartment lease and don’t pay the remainder of the lease, your landlord has the right to take legal action. This could lead to a civil lawsuit and you may incur lawyer fees. In some situations, landlords may be granted the right to garnish wages or could seek the help of a collections agency to recoup any money owed.

5. Credit Score Impact

Early termination of your lease can also affect your credit score. Your landlord could report any unpaid rent to credit bureaus, which will drop your score. This may make finding a new apartment more difficult and you may need to look for no credit check apartments to obtain a lease. You also may have difficulty finding loans in the future.

Exceptions to The Rule

There are of course extenuating circumstances where breaking the lease on your apartment could be appropriate. If you break your lease because of active military duty, you are covered by the Servicemembers Civil Relief Act and can lawfully break your lease.

Environmental factors may also allow you to break your lease such as domestic violence. The majority of states allow victims of domestic violence to break the lease agreement without penalty by providing landlords with written notice.

If your apartment has uninhabitable living conditions not rectified by the landlord, you could be entitled to break your lease without consequence as well. Again every state has different landlord-tenant laws, so you may want to consult a lawyer before trying to break your lease.

Options If You Need to Break Your Lease

You will have trouble finding a new apartment if you decide to break your lease. You may have to search for no credit check apartments, which are hard to find. Additionally, these kinds of apartments will typically have higher security deposits, costing you more out-of-pocket.

While circumstances may make it necessary for you to break your apartment lease, it’s important to know how it will affect your financial situation now and in the future. This way you can limit the impact as much as possible. If you have additional questions about the terms of your lease, make sure to communicate with your landlord and contact an attorney if necessary.

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Top 10 Cities With the Best Investment Properties for Sale in 2025

January 1, 2025 By Teri Monroe Leave a Comment

Best cities to buy investment property for sale — Image Source: Pexels

Are you looking for an investment property? You’re not alone. A recent Gallup poll found that 36% of Americans rank real estate as the number one long-term investment. So, what are the best real estate markets with investment property for sale? Let’s take a look at the 10 best cities to buy an investment property in 2025.

1. Nashua, New Hampshire

With rising housing prices in nearby Boston, many people are flocking to nearby states like New Hampshire. Work-from-home trends have also prompted many to leave Massachusetts for Southern New Hampshire. Usually, you can get double the square footage for the same price in Nashua, New Hampshire as compared with cities in Massachusetts. With lower taxes and more affordable housing prices, it makes sense to invest in a property in New Hampshire now, especially if you’re looking to sell in the next 10 years.

2. Las Vegas, Nevada

Investment property for sale in Las Vegas — Image Source: Pexels

Las Vegas has a strong economy and rental market, making it an ideal place to purchase an investment property. In recent years, communities like Summerlin have popped up around Clark County and have become destinations beyond the strip. These communities usually are priced lower than apartments and condos on the strip and are ideal for short-term and long-term rentals.

3. Raleigh-Durham, North Carolina

Raleigh-Durham’s growth has skyrocketed over the last 10 years. With many prestigious universities in the area, top hospital systems and medical research companies, and tech companies flocking to the area, Raleigh-Durham is a great place to buy investment property for sale. The demand for rental properties in the Research Triangle and lack of affordable options, make it an ideal place to invest as well. Additionally, it’s also a landlord-friendly state with relatively low property taxes.

4. Charlotte, North Carolina

Like Raleigh-Durham, Charlotte, North Carolina has an abundance of opportunities for investment property for sale. It is one of the most populated areas in North Carolina and is continuing to grow. This in part is because Charlotte is home base for many Fortune 500 companies like Bank of America. As a result, the city has a strong job market with an employment growth of 2.7%. Charlotte also has an 11.9% home value increase making it ideal for investment properties.

5. Boise, Idaho

Boise, Idaho has seen significant growth in home prices over the last 10 years. There’s been growth in the job market and a growing demand for housing. Real Estate Professionals from the area say that you can still buy a property for $250,000 in Boise and get a 2% return in the next two years.

6. Sault Sainte Marie, Michigan

The mid-west is an excellent region to invest in right now. Just across the Canadian border, Sault Sainte Marie, Michigan has very low housing prices and is a destination for new industry.

7. Fort Myers, Florida

Fort Myers and surrounding areas like Fort Myers Beach and Sanibel Island are still recovering from hurricane damage from Hurricane Ian and Helene. If you’re looking for an investment property, you can get properties in need of repair at a discount.

8. Atlanta, Georgia

While housing prices can be higher in Atlanta, there are several incentives to buy an investment property here. First, the city’s population has grown by almost 20% in the last decade. The rental market in Atlanta is very strong. Plus, there are tax benefits for real estate investors.

9. Phoenix, Arizona

Phoenix has diverse options for investors including a variety of neighborhoods with a range of pricing. South Phoenix has become a hotspot for real estate investors due to its proximity to downtown and affordable prices. The housing market in Phoenix is competitive and resilient, so take advantage of investment property for sale in this area.

10. Seattle, Washington

Investment property for sale in Seattle, Washington — Image Source: Pexels

Seattle is home to industry giants like Amazon and Microsoft, making it an ideal city to buy investment property in. While housing prices have increased in recent years, with interest rates going down and inflation cooling, it may be a good time to buy in Seattle and surrounding areas.

Choosing The Right City with Investment Property for Sale

If you’re looking for an investment property in 2025, these 10 cities are a good place to start. With the help of a real estate agent, you can turn your investment into profits. In what cities are you looking to invest in?

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