Floyd County, TX: personal loan guide and local data

Who lives in Floyd County

The latest five-year Census estimate puts Floyd County's population at 5,216; only 197 of Texas's 254 county-level areas are larger. Spread over 992 square miles, that works out to roughly 5.3 residents per square mile. Under the July 2023 OMB definitions, Floyd County is not part of any metropolitan area. Floydada is the biggest of its 2 Census places, at roughly 2,588 people (50% of the county total). Small populations mean wide margins of error, so read every Floyd County figure on this page as a rough guide.

How much Floyd County households make

Half of Floyd County households take in less than $58,462 a year and half take in more, 26% below the Texas median of $78,476.

The spread is wide: 30% of Floyd County households make $100,000 or more, and 31% make less than $35,000. 17.9% of residents fall below the federal poverty line (statewide: 13.8%). The Gini index of income inequality is 0.507 (0 is perfect equality). None of these numbers decides a Floyd County application. Lenders weigh your own documented income against your own debts.

Homes and rents, Floyd County

Median gross rent, utilities included, comes to $676 in Floyd County versus $1,403 statewide. 33% of renting households spend 30% or more of income on rent, and 14% spend half or more. Median value $89,600; median income $58,462; ratio 1.5. Homeowners 73%, renters 27%. Half the housing stock was built before 1962.

Floyd County owners: get one secured and one unsecured quote, then compare the total cost and what you would put up as collateral (side by side).

Where Floyd County differs from the rest of Texas

Ranked against the other 252 county-level areas in Texas, these are the Floyd County figures furthest from the middle.

• The share of workers who work from home: 1.1% in Floyd County. Only 2 of 253 Texas counties are lower. Few remote jobs means most pay stubs come from local employers.
• Few Texas counties match Floyd County on the share of mobile homes: 2.4% here, 6.4% for the state, ranking 7th lowest of 254. Site-built housing dominates, which matters for equity-based credit.
• Few Texas counties match Floyd County on median gross rent: $676/mo here, $1,403/mo for the state, ranking 20th lowest of 249. Cheaper housing gives many renters more slack in a budget.

Labor force snapshot: Floyd County

The biggest employer of Floyd County residents, by industry, is education and health care at 20% of workers, followed by agriculture, forestry and mining (18%). Compared with Texas, the county leans toward agriculture, forestry and mining (18% against 2%). The survey's unemployment rate for Floyd County averages 6.0% over 2020 to 2024 (state: 5.3%). About 83% drive to work alone and 8% have trips of 45 minutes or more.

A lender verifies what your own job pays. The county's industry mix tells you about the local economy, not about your application.

Floyd County and the counties next door

Nearest neighbors first, measured between county centers (29 to 43 miles). Motley County leads the group on income ($61,154), Swisher County trails ($36,165), and Floyd County out-earns 5 of the six.

Places inside Floyd County

Places, by size: the top 2 of 2. Roughly 17% of Floyd County lives outside all of them, in open country or unnamed settlements. None of the 2 has its own city guide, so this page covers all of them.

A Floyd County household budget, worked through

The debt-to-income ratio is the main affordability test lenders use. Applied to Floyd County's medians:

• Start: $4,872 gross per month ($58,462 / 12)
• 14% goes to median rent ($676)
• At 36%, room after rent is $1,078 a month
• $1,419: what a 43% ratio leaves once rent is paid

Car, student loan and card payments come out of that room first. Try your own numbers in the calculator.

Before borrowing in Floyd County

The county's numbers point to a few situations that come up often for Floyd County borrowers.

• Hospital bills in Floyd County. For the 23% of residents without coverage, the provider's charity-care program comes before any loan (details).
• Paperwork. ID, proof of income and a bank account are the basics (requirements).
• Credit reports. Pull free reports at AnnualCreditReport.com and dispute errors before applying.

Floyd County demographics against Texas

College graduates make up 15% of the adult population. Health coverage gaps: 23.3% of Floyd County residents are uninsured.

Texas rules that apply in Floyd County

Floyd County borrowers fall under statewide rules, enforced by the Texas Department of Banking. For consumer-credit complaints, Texas residents can also contact the Office of Consumer Credit Commissioner. Banks and credit unions have their own regulators, and the CFPB takes complaints about any lender. See the Texas state guide for the statewide picture.

Checklist for Floyd County applicants

Before you apply, wherever you live in Floyd County:

• Size the loan to the bill, not to the most a lender offers.
• Prequalify with soft pulls where offered, then compare in writing.
• A Texas license check takes minutes; do it first.
• Keep a small cushion so one surprise bill does not mean another loan.

Keep exploring

Statewide:

• Texas state guide