Mineral Wells, TX Profile: Facts & Data

The primary coordinate point for Mineral Wells is located at latitude 32.8085 and longitude -98.1128 in Palo Pinto County. The formal boundaries for the City of Mineral Wells encompass a land area of 20.4 sq. miles and a water area of 0.76 sq. miles. Palo Pinto County is in the Central time zone (GMT -6). The elevation is 883 feet.

While the primary coordinates for City of Mineral Wells are located in Palo Pinto County, it should be noted that the formal boundaries for this community also extend into and Parker County.

The City of Mineral Wells (GNIS ID: 2411119) has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Texas is one of 20 states where Census County Divisions (CCDs) are used for statistical tracking of subdivisions within each county. The City of Mineral Wells is located within Mineral Wells Division of Palo Pinto County.

Mineral Wells, TX Data & Demographics (As of July 1, 2020)

POPULATION
Total Population	15,750 (100%)
Population in Households	15,697 (99.7%)
Population in Families	12,801 (81.3%)
Population in Group Quarters¹	53 ( 0.3%)
Population Density	772
Diversity Index²	65


INCOME
Median Household Income	$39,889
Average Household Income	$56,515
% of Income for Mortgage⁴	10%
Per Capita Income	$20,912
Wealth Index⁵	52

HOUSING
Total HU (Housing Units)	6,610 (100%)
Owner Occupied HU	3,505 (53.0%)
Renter Occupied HU	2,231 (33.8%)
Vacant Housing Units	874 (13.2%)
Median Home Value	$91,163
Average Home Value	$129,202
Housing Affordability Index³	232

HOUSEHOLDS
Total Households	5,736
Average Household Size	2.74
Family Households	3,845
Average Family Size	3

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

Mineral Wells, TX - Peer Comparisons by Rank and Percentile

The table below compares Mineral Wells to the other 1,746 incorporated cities, towns and CDPs in Texas by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2010-2020	2020-2025
Population	-0.62%	0.36%
Households	0.44%	0.26%
Families	0.35%	0.21%
Median Household Income		0.95%
Per Capita Income		1.49%
Owner Occupied HU		0.23%

Variable Description	Rank	Percentile
Total Population	# 189	89th
Population Density	# 918	47th
Median Household Income	# 1314	25th
Housing Affordability Index	# 964	55th
Per Capita Income	# 1185	32nd
Diversity Index	# 506	71st

Mineral Wells, TX Profile: Facts & Data

Mineral Wells, Texas - Basic Facts

Mineral Wells, TX Data & Demographics (As of July 1, 2020)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Mineral Wells, TX - Peer Comparisons by Rank and Percentile

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