Farwell, TX
Population 1,359 · Texas
About Farwell, TX
Farwell is a small town located in Texas with a population of 1,359 residents according to the latest US Census Bureau American Community Survey data. The median household income is $56,932 per year, which is 24% below the national median of $75,149. The median age of 32.2 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Farwell features a median home value of $129,800, which is 47% below the national median of $244,900. This makes Farwell one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $1,153, 1% below the national average of $1,163/month. Of the 559 total housing units, 66% are owner-occupied (305 units) and 34% are renter-occupied (160 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Farwell shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 13.2%, above the national average of 12.4%. Workers in Farwell have an average one-way commute time of 19.9 minutes, one of the shorter commutes in the region.
Education & Demographics
19.5% of Farwell residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 46.9% White, 1.1% Hispanic or Latino, 0.0% Black or African American, and 3.2% Asian residents, with 6.6% of the population being foreign-born.
Cost of Living in Farwell, TX
Compared to national averages, Farwell has a median household income of $56,932 (24% below the national median of $75,149). Home values average $129,800, which is 47% below the national median. Monthly rent at $1,153 is 1% below the US average of $1,163. Within Texas, Farwell's income is 22% below the state average of $72,726, and home values are 39% below the state median of $211,769.
Why Live in Farwell, TX?
Farwell offers affordable housing with a median home value of $129,800, below the US average of $244,900, and rent that’s lower than the national average at $1,153/month, and a strong job market with an unemployment rate of just 0.0%. Additionally, the city features short commute times averaging just 19.9 minutes.
Potential considerations include median household income ($56,932) that falls below the national average. However, Farwell’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Farwell has a population of 1,359 with a median age of 32.2 years. Compare Farwell with other cities to see how it stacks up, or explore all cities in Texas.
Similar Cities Near Farwell
Cities in Texas with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Buchanan Dam | 1,359 | $56,250 | $267,100 | Compare |
| Powderly | 1,361 | $95,742 | $207,400 | Compare |
| Carrizo Hill | 1,355 | $0 | $18,100 | Compare |
| Poetry | 1,352 | $103,333 | $408,300 | Compare |
| Rollingwood | 1,371 | $236,964 | $1,872,000 | Compare |
| Roscoe | 1,347 | $52,935 | $80,700 | Compare |
| Somerville | 1,347 | $64,013 | $143,600 | Compare |
| Coldspring | 1,372 | $41,196 | $189,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Texas
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Farwell With Other Cities
Frequently Asked Questions about Farwell
What is the population of Farwell, TX?
The population of Farwell, TX is 1,359 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Texas.
What is the median household income in Farwell?
The median household income in Farwell, TX is $56,932 per year, which is 24% below the national median of $75,149.
What is the median home value in Farwell?
The median home value in Farwell, TX is $129,800, which is 47% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Farwell?
The median monthly rent in Farwell, TX is $1,153, which is 1% below the national average of $1,163/month.
What is the unemployment rate in Farwell?
The unemployment rate in Farwell, TX is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Farwell, TX a good place to live?
Farwell offers a moderate cost of living, affordable housing, and a strong job market. With a population of 1,359 and a median age of 32.2, the city appeals to young professionals and families.
How educated is Farwell, TX?
19.5% of residents in Farwell aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Farwell?
Key cost-of-living indicators for Farwell, TX: median home value is $129,800 (47% below national), median rent is $1,153/month, and median household income is $56,932. The home-value-to-income ratio is 2.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Farwell?
The poverty rate in Farwell, TX is 13.2%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Farwell, TX?
Farwell's population is 46.9% White, 1.1% Hispanic or Latino, 0.0% Black or African American, 3.2% Asian, and 0.3% two or more races. 6.6% of residents are foreign-born.