1st Advantage MortgageAbout 80% of Panola County homes are owner-occupied, and the median household income is $64,894. Your income, debts and credit decide what you qualify for. Get offers in writing, compare the total repaid, and never pay a fee up front.
On this page
- Panola County by the numbers
- Paychecks and income spread in Panola County
- Housing costs in Panola County
- Employment and commuting in Panola County
- Cities, towns and CDPs in Panola County
- The counties around Panola County
- Panola County households compared
- What the numbers mean for Panola County borrowers
- Budget math at the Panola County median
- Four steps for Panola County borrowers
- Checking a lender's license in Texas
- More guides for Panola County
- Frequently asked questions
Panola County by the numbers
The latest five-year Census estimate puts Panola County's population at 22,726; only 104 of Texas's 254 county-level areas are larger. Spread over 811 square miles, that works out to roughly 28.0 residents per square mile. No metropolitan area includes Panola County in the 2023 federal delineation, so its numbers stand on their own rather than as part of a metro. Of the 4 Census places inside Panola County, Carthage leads by population with about 6,601; 4 of the 4 are incorporated.
Paychecks and income spread in Panola County
The median household income in Panola County is $64,894; statewide it is $78,476, so Panola County runs 17% below Texas as a whole.
| Household income | Panola County | vs Texas |
|---|---|---|
| Under $35,000 | 27.6% | +6.2 pts |
| $35,000 to $99,999 | 40.2% | +0.8 pts |
| $100,000 to $199,999 | 24.1% | -2.6 pts |
| $200,000 or more | 8.0% | -4.4 pts |
About 28% of households earn under $35,000, while 32% clear $100,000. The poverty rate is 11.2%, 3 points lower than the state's 13.8%. A household earning below the $64,894 median should test any payment carefully; one earning above it should still pick the shortest term it can manage.
Housing costs in Panola County
Renters in Panola County pay a median of $834 a month, 41% below the Texas figure of $1,403. Rent takes 30% or more of income for 40% of renter households here. The median owner-occupied home is valued at $158,100, about 2.4 times the median household income. The ownership rate is 80%. Median construction year: 1984.
| Cost | Panola County | Texas figure | Median county, U.S. |
|---|---|---|---|
| Median gross rent | $834/mo | $1,403/mo | $877/mo |
| Median home value | $158,100 | $283,800 | $185,300 |
| Owners | 80% | 63% | 75% |
| Rent-burdened renters | 40% | 52% | 45% |
| Burdened owners | 19% | 29% | n/a |
| Mobile homes | 24.5% | 6.4% | n/a |
| Vacant units | 18% | 9% | n/a |
Owners with equity have a second option. Weigh a secured line against an unsecured loan by risk as well as cost before you choose (how they compare).
Employment and commuting in Panola County
Education and health care employs 23% of working residents, the largest share; retail trade is next with 12%. Agriculture, forestry and mining stands out: 10% of workers here, versus 2% statewide. ACS puts five-year average unemployment at 2.5% in Panola County. Long commutes are common here: 24% of workers spend 45 minutes or longer getting to work.
| Sector | Panola County | Compared with Texas |
|---|---|---|
| Education and health care | 23.0% | +1.4 pts |
| Retail trade | 11.6% | +0.6 pts |
| Manufacturing | 11.1% | +2.5 pts |
| Transportation, warehousing and utilities | 9.9% | +3.1 pts |
| Agriculture, forestry and mining | 9.6% | +7.3 pts |
| Construction | 8.1% | -0.4 pts |
Where long drives are the norm, a car repair is one of the most common surprise bills. A small repair fund can keep a breakdown from turning into a loan.
Cities, towns and CDPs in Panola County
The table lists the 4 largest of 4 Census places in Panola County, by population. Together all 4 hold about 9,133 people, so roughly 60% of residents live outside any named place. Tatum has the highest median household income on the list ($77,404) and Beckville the lowest ($48,125), counting places with at least 500 residents. Rent is cheapest in Carthage ($797) and steepest in Beckville ($926). No Panola County place has a separate guide yet; this county page serves all 4.
| Place in county | Status | Population (ACS) | Median HH income | Monthly rent | Distance from center |
|---|---|---|---|---|---|
| Carthage | city | 6,601 | $51,250 | $797 | 2 mi |
| Tatum | city | 1,435 | $77,404 | $918 | 16 mi |
| Beckville | city | 690 | $48,125 | $926 | 10 mi |
| Gary City | town | 407 | $66,250 | n/a | 10 mi |
The counties around Panola County
Six nearby counties, 27 to 38 miles away by the straight-line distance between their centers. 3 of the six report a higher median household income than Panola County; Rusk County is highest at $68,658 and De Soto Parish lowest at $48,578. Some neighbors are in Louisiana. Lender licensing is state by state, so a loan for a Panola County resident follows Texas rules.
| Neighbor | Distance | Income | Rent | Own |
|---|---|---|---|---|
| Panola County | - | $64,894 | $834/mo | 80% |
| Rusk County, TX | 27 mi | $68,658 | $1,015/mo | 79% |
| Harrison County, TX | 27 mi | $66,103 | $974/mo | 77% |
| Shelby County, TX | 28 mi | $49,776 | $781/mo | 74% |
| De Soto Parish, LA | 34 mi | $48,578 | $687/mo | 77% |
| Gregg County, TX | 37 mi | $66,550 | $1,102/mo | 60% |
| Caddo Parish, LA | 38 mi | $50,705 | $974/mo | 60% |
Panola County households compared
College graduates make up 17% of the adult population. 17.0% of residents have no health coverage.
| Measure | Panola County | Texas statewide | Typical U.S. county |
|---|---|---|---|
| Median age | 40.9 | 35.6 | 41.5 |
| Bachelor's or higher | 17.0% | 33.8% | 22.2% |
| No high school diploma | 13.4% | 14.0% | n/a |
| No health insurance | 17.0% | 17.1% | 7.8% |
| No vehicle | 5.2% | 5.4% | 5.4% |
| Work from home | 7.1% | 14.4% | 8.7% |
| Poverty rate | 11.2% | 13.8% | 13.2% |
| Unemployment (ACS) | 2.5% | 5.3% | 4.4% |
| Trip time | Share |
|---|---|
| Under 15 min | 34.1% |
| 15 to 29 min | 26.2% |
| 30 to 44 min | 15.9% |
| 45 to 59 min | 9.6% |
| 60+ min | 14.2% |
What the numbers mean for Panola County borrowers
Based on the Panola County data above, these borrowing questions are most likely to matter locally.
- Health costs. With 17% of the county uninsured, an interest-free hospital payment plan usually beats a loan (medical bills).
- Long drives. With 24% of commutes over 45 minutes, tires and repairs are fixed costs in many Panola County budgets.
- Repairs on manufactured housing. With 24% of homes here, compare a personal loan with any dealer or park repair program.
Budget math at the Panola County median
How much room does a median Panola County budget have? Take median income, subtract median rent, and check what is left under a few common debt-to-income limits.
- Monthly gross at the median, Panola County: $5,408
- Rent at the median, $834, takes 15% of that
- With a 43% ceiling, about $1,491 remains for car, card, student and any new loan payments
If your rent is above $834, the room shrinks dollar for dollar.
Four steps for Panola County borrowers
Quick steps for Panola County:
- Size the loan to the bill, not to the most a lender offers.
- Shop at least three lenders, including one Panola County-area credit union.
- Only work with lenders licensed for Texas borrowers.
- Keep a small cushion so one surprise bill does not mean another loan.
Checking a lender's license in Texas
Before sharing details with a lender, a Panola County resident can confirm its license with the Texas Department of Banking. The Office of Consumer Credit Commissioner handles consumer-credit questions as well. A CFPB complaint gets forwarded to the company for a response. The Texas guide covers state rules in more detail.
More guides for Panola County
The Texas guide covers the whole state.
Frequently asked questions
What does a typical Panola County household make?
About $64,894 a year at the median (ACS 2020-24), 17% below the Texas median.
Is Panola County expensive for renters?
Median rent is $834 against $1,403 statewide, and 40% of renter households are cost-burdened.
Does this page cover Carthage?
Yes, along with the other 3 Census places in Panola County, such as Tatum, Beckville, Gary City.
Is the fit check different in Panola County?
No. It is identical everywhere, and it never looks at your neighborhood.
Where can someone in Panola County check a lender's license?
With the Texas Department of Banking. If a lender is unlicensed or asks for a fee before funding, walk away.