Texas Cost Of Living Statistics


Steve Goldstein
Steve Goldstein
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Texas Cost Of Living Statistics 2023: Facts about Cost Of Living in Texas reflect the current socio-economic condition of the state.

texas

LLCBuddy editorial team did hours of research, collected all important statistics on Texas Cost Of Living, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to start a Texas LLC business in 2023? Maybe for educational purposes, business research, or personal curiosity, whatever it is – it’s always a good idea to gather more information.

How much of an impact will Texas Cost Of Living Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top Texas Cost Of Living Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 13 Texas Cost Of Living Statistics on this page 🙂

Texas Cost Of Living “Latest” Statistics

  • Texas has a 7% cheaper average cost of living than the rest of the country.[1]
  • When compared to the typical U.S. city, certain Texas communities’ costs range from 23% cheaper to 12% higher.[1]
  • Texas’s average monthly housing costs range from $900 to $1,641.[2]
  • According to the C2ER Cost of Living Index Q3 ‘22, Houston has the second lowest cost of living among the most populated U.S. metro regions.[3]
  • Numbeo.com figures for 2022 show that in Austin, a gallon of milk and a pound of apples cost $3.81 and $2.18 respectively.[4]
  • According to U.S. Energy Information Administration (EIA) statistics from 2020, Texas’s average monthly energy cost in 2021 was $132.59.[4]

Texas Cost Of Living “Living” Statistics

  • The MIT living wage calculator estimates that a single adult without children living in Texas should budget $3,428 for food per year.[4]

Texas Cost Of Living “Other” Statistics

  • The state sales tax rate in Texas is 6.25%, or 8.19% if you include it in the average local rate.[1]
  • With regard to overall sales tax, Texas is ranked as having the 14th highest percentage in the nation.[1]
  • In Texas, the gas tax is 20 cents per gallon, and the sales tax varies from 6.25% to 8.25%.[4]
  • According to the most recent U.S. Census Bureau, only 37,063 Texans relocated to California whereas 82,235 Californians moved to Texas in 2019.[1]
  • According to statistics from the Bureau of Economic Analysis for 2020, texas’s average total annual expenditure for personal consumption is $39,661.[2]
  • According to NAHB, 63.6% of houses sold in Austin are accessible to families making more than the city’s median family income, which is higher than the country’s average affordability rate of 58.3%.[5]

Also Read

How Useful is Texas Cost of Living

The cost of living in Texas is frequently touted as one of the lowest in the nation, a fact that has traditionally attracted people from various parts of the country looking for a more affordable lifestyle. With relatively low housing costs, no state income tax, and generally reasonable prices on things like groceries and utilities, it’s easy to see why Texas is viewed as an appealing place to live for many.

However, the usefulness of the Texas cost of living is not without its drawbacks. While lower housing costs and no state income tax may seem like a dream come true for some, those advantages can be offset by other factors such as higher property taxes or expensive healthcare. Additionally, in certain parts of the state such as the big cities like Dallas, Houston, and Austin, the cost of living can be significantly higher due to factors like housing demand, transportation costs, and entertainment expenses.

For individuals and families considering a move to Texas, it’s important to take a closer look at the specifics of the cost of living in the area they are interested in. While the overall average may be one of the lowest in the nation, the reality can vary widely based on location, lifestyle preferences, and individual circumstances. Understanding the true cost of living in Texas requires a more nuanced approach that takes into account all aspects of daily life, from housing and transportation to healthcare and education.

Furthermore, the usefulness of the Texas cost of living extends beyond just figuring out how much money you’ll need to cover your expenses. It also plays a role in shaping the overall economic landscape of the state, influencing things like business growth, population trends, and job opportunities. A low cost of living can make Texas an attractive place for businesses looking to set up shop, while a high cost of living in certain areas may hinder growth and development.

In light of these complexities, it’s clear that the usefulness of the Texas cost of living goes far beyond just being a number on a chart. It is a dynamic and multifaceted aspect of life in the Lone Star State that can impact everything from individual financial decisions to broader economic policies. By understanding the nuances of the cost of living in Texas, residents and policymakers alike can make more informed choices that reflect the diverse needs and interests of the state’s population.

Ultimately, the true usefulness of the Texas cost of living lies in its ability to provide a more complete picture of what it’s like to live and work in the state. By taking a nuanced and holistic approach to evaluating the cost of living, we can gain a better understanding of the opportunities and challenges that Texas offers to its residents. Only then can we fully appreciate the complexity and diversity of life in this vibrant and diverse state.

Reference


  1. ramseysolutions – https://www.ramseysolutions.com/real-estate/cost-of-living-in-texas
  2. sofi – https://www.sofi.com/cost-of-living-in-texas/
  3. houston – https://www.houston.org/houston-data/cost-living-comparison
  4. smartasset – https://smartasset.com/mortgage/what-is-the-true-cost-of-living-in-texas
  5. austinchamber – https://www.austinchamber.com/economic-development/austin-profile/cost-of-living/overview

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