Cost of living in Texas: The highs and lows you need to know 

If you plan to move to a place with many employment opportunities, consider Texas at least once.  

No, I am not just stating some random stuff. The Federal Reserve Bank of Dallas has predicted that there will be an increase of 1.4% in Texas jobs.  

Texas has many cities where you can settle down and get a decent job to make a living. In addition to employment opportunities, Texas is also known for being the second-largest state and offering barbecue menus.  

Before turning into a complete Texas, let me give you an overview of the cost of living.  

This guide will cover all aspects, including housing costs, a list of affordable cities, and job opportunities in Texas.  

This article will also provide valuable insights into the cost of living in Texas through a comparison. Read on to gain better knowledge about it before preparing for your relocation.    

The Overview: Cost of living in Texas 

We already know Texas is a social hotspot. From its off-the-menu barbecue recipes or country roads to its scenic beauty, Texas is a great place to live. However, many people believe that big states like Texas must cost a fortune.  

But what if I tell you that Texas’s average cost of living is 7% lower than the average national cost of living? Shocking right?  

Texas is the second-largest state in the US after Alaska, and the cost of living is average. However, it depends on where you are planning to live.  

There are cities in Texas where living is almost 23% cheaper or 12% pricier than in an average US city.  

According to recent data from the Bureau of Economic Analysis for 2021, total personal consumption (PCE) was $45,114 annually. If you break down the monthly value, it comes to $3760 per person. 

You may be wondering what your living expenses include. These include housing, utilities, transportation, groceries, taxes, healthcare, and other miscellaneous goods or services. 

We will consider 100 as the baseline to determine the cost of living. Anything above or below that number will be considered cheap or expensive.  

The Housing Expenses In Texas 

Texas always stands out due to its attractive housing facilities and affordability. So, if you are looking for an average place to buy or rent, you can easily find one. 

Texas offers diverse pricing options in the house-buying range. This makes things more accessible, and you can choose a better place across the country.    

The national median home price is usually $291000, whereas in Texas, there is a cost-effective option that offers a median price of $243600. It is more affordable.  

In the following, I am providing you with a median pricing list of all the biggest cities in Texas: 

(Table Source: https://helenpainter.com/cost-of-living-texas/)  

Along with the biggest cities, Texas includes beautiful suburbs as well as smaller towns where you can get affordable home prices:  

(Table Source: https://helenpainter.com/cost-of-living-texas/) 

The Comparison Of Living Costs 

If you are currently wondering, “Why do people prefer moving to Texas?” I can give you one primary reason. 

Consider comparing cost of living in Texas with other states like California or New York; you can observe the significant differences. Texas is the only state where you get a better chance to make savings. Be it groceries, transportation, or even healthcare, Texas offers you opportunities to live at a minimum cost.  

For instance, imagine you are moving to Dallas from New York City. How much can you possibly save? Almost 40% of your overall living expenses. Similarly, if you are moving from Los Angeles to Austin, you can save around 32%. 

Thus, Texas’s affordability and overall lifestyle savings make It a better place to live. You will not have to make sacrifices or cut costs. Choose from one of the diverse housing ranges and enjoy a wonderful living experience.      

Top Affordable Cities in Texas  

If you are looking for affordable cities to live in Texas, consider Lubbock, Amarillo, Waco, El Paso, Houston, San Antonio, and Brownsville-Harlingen. These cities offer better living at a low cost. Moreover, you can save on the cost of living while living a happy lifestyle.  

Texas also has some affordable metros, including Midland-Odessa, Lubbock, Amarillo, and others.  

Let me assure you of one thing: each city has its charm. The vibrant atmosphere will give you a big city vibe. On top of that, cities like San Antonio offer you a rich history and their Texan culture.  

If you are planning to move to Texas and need clarification about which city to choose, consider doing research that can help you have a better cost of living. That way, you can find a better home to live in and focus on saving while achieving your financial goals.     

What Are The Job Opportunities In Texas? 

Along with a diverse range of living options and cost of living in Texas, it offers a potential job market in various industries. This is one of many reasons to choose Texas for better career growth and stability.  

Texas has some major industries, such as technology, healthcare, energy, and manufacturing, while providing a range of opportunities to its residents. 

Texas has a strong job economy, a diverse job market, and job opportunities. If you are planning to move to Texas and your main aim is to have a meaningful career, then I can assure you that Texas is a smart choice for you.     

One of Texas’s major cities, Houston, known as “the energy capital of the world,” is famous for being a potential driver for energy and healthcare.  

Austin is also famous for being a center for technology and innovation, earning the title “Silicon Hills.” Its various industries include automotive and manufacturing.  

Making The Ultimate Move To Texas 

Your plan for moving to Texas can be affordable. It will also offer you some rewarding experiences.  

But you must conduct intensive research on Texas with the other cities before deciding to move to Texas. 

Before joining the Texans, it is important to consider the cost of living and explore the overall job market and local amenities. You must also focus on the quality of living, as it plays a big part in decision-making.  

Due to the diverse range of housing options in different cities and the low cost of living compared with the national average rate, Texas is one of the most affordable places to live.    

How Much Money Do you need to have to live comfortably in Texas?  

Whenever we think about the term “living comfortably,” we start estimating how many monetary resources we need to live up to that comfort level. This is like when you start thinking about how much you need to earn to live comfortably in Texas.  

Various studies have revealed that the minimum wage should be between $56000 and $80000. If I break it down for you, you will have to earn $26.92 to $38.46 per hour.  

Considering MIT’s living wage calculator, you need to have the following:  

1. For a single adult: $16.79 

2. A household of four, including two working adults and two kids, $23.62.  

3. For a household of four, including one working adult and two kids, $37.82.  

It is crucial for you to consider your finances and make budget planning accordingly. In this way, you can get an idea about your needs and how much you will be required to live comfortably in Texas.  

Texas vs. Florida: The Duel On The Cost Of Living 

The overall comparison of the cost of living in Texas and Florida reveals that the cost of living is lower in Texas than in Florida. 

This includes all the categories that should be considered under the cost of living.  

Although housing, insurance, groceries, healthcare, and utilities are higher in Florida, Texas is one of the most affordable places to live.  

Thanks to inexpensive housing options, a business-friendly environment, and a lack of state income tax, Texas has become one of the top states with a lower cost of living.  

Wrapping it up! 

Texas has the 15th lowest cost of living, making it currently one of the most affordable places to live. However, the range might vary from place to place.  

Given the fact that you can save on your overall earnings, you can consider moving to Texas. It has much to offer you, from better healthcare costs to convenient living. 

However, it would help if you considered doing some research before embarking on the moving plan. Gather information about the regions and cities and the cost of living in Texas, align with your goal, and find a suitable place in this lone state.