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.

Please read the page carefully and don’t miss any words.

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 can vary significantly depending on where you choose to reside. Major cities such as Houston, Austin, and Dallas may come with a higher price tag in terms of housing, utilities, and transportation costs. On the other hand, rural areas or smaller towns in the state might offer a more affordable standard of living.

However, it is important to consider the bigger picture when assessing the usefulness of the cost of living in Texas. Factors such as job opportunities, quality of life, and access to amenities and services should also be taken into account. While living expenses are certainly a significant consideration, they should not be the sole determinant in choosing where to settle down.

Additionally, the cost of living does not always accurately reflect the overall quality of life in a particular location. Texas is known for its warm weather, friendly atmosphere, and vibrant culture. These intangible aspects of living in the Lone Star State may outweigh any financial concerns for many people.

Moreover, the cost of living index may not capture the full extent of economic disparities within the state. Texas is home to a diverse population, and income levels can vary widely depending on factors such as education, occupation, and industry. Individuals living in different parts of Texas may have vastly different experiences in terms of affordability and economic stability.

Furthermore, the cost of living can be a fluid and ever-changing measure. Inflation, market trends, and other economic factors can impact living expenses over time. While cost-of-living calculators may provide a snapshot of current conditions, they may not always accurately predict future trends.

It is also worth considering the subjective nature of the cost of living. What one person deems affordable may be considered expensive by another. Personal preferences, lifestyle choices, and individual circumstances all play a role in how people perceive the affordability of a certain location.

In conclusion, while the cost of living is a valuable tool for comparing living expenses in different regions, it should not be the sole factor guiding decisions about where to live. Texas offers a rich tapestry of experiences and opportunities that go beyond mere financial considerations. When weighing the pros and cons of moving to the Lone Star State, it is important to take into account a variety of factors to ensure a well-rounded and fulfilling living experience.

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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