Cost of Living in Texas: Everything You Need to Know

Cost of Living in Texas: Everything You Need to Know

Texas, the Lone Star State, is famous for its hot weather, BBQ, and music. Apart from BBQ, TX is popularly famous for numerous other dishes, such as Chili, Queso, Kolaches, Sweet tea, and much more. The second-largest state has a rich culture, cheap and affordable housing, and remarkable job growth. Texas is the perfect place

Texas, the Lone Star State, is famous for its hot weather, BBQ, and music. Apart from BBQ, TX is popularly famous for numerous other dishes, such as Chili, Queso, Kolaches, Sweet tea, and much more. The second-largest state has a rich culture, cheap and affordable housing, and remarkable job growth. Texas is the perfect place to live and experience fast urban life, as well as the Gulf Coast, depending on where you prefer to live. But before you pack your bags and relocate to this populous state, you should read this article about the cost of living in Texas.

Cost of Living in Texas

The Texan population is naturally increasing, bringing numerous opportunities to the state. Food and houses are not the only areas you will find Texas affordable, but the taxes are low, and the economy is flourishing. All these factors will positively affect your average living costs. So let’s discuss the essential factors that contribute to average living costs in Texas:

·         Housing

If you move to Texas, you can easily purchase or rent a house. Whether you are buying a farmhouse, modern ranch home, a mansion in Dallas, you will find plenty of amazing deals. Thanks to the resident-friendly government, you have to face fewer regulations.

According to NeighborhoodScout, the average home value is around $166,374 in metropolitan cities. However, Austin’s average cost of real estate is at $322,291, and $186,829 for Dallas. Furthermore, NeighborhoodScout also stated that around 70.2% of real estate is less than $247,000.

However, Real Estate in TX has a more favorable market for renters. For instance, the average rate of a studio, one and two-bedroom is $730, $845, and $1050. On the other hand, the US’s average total is $827, 948, and $1174 for these types of apartments, making rent in Texas reasonable and affordable.

·         Transportation

TX is a driving state as it is the second-largest state in the US. So if you want to relocate to Texas, you need to include your transportation costs in your cost of living. You can save a lot by getting the right coverage on your transportation.

·         Health Care

Texas’s healthcare expense can be 21% lower or 26% higher than the national average, depending on which city you are moving to. For instance, San Marcos has a higher health care expense, while Plano has the lowest. Moreover, Midland is in the middle range. However, the impact of health care expense on the cost of living depends on the medical facility you require.

·         Food Expense

Texas has the most delicious food ranging from chili to barbecue. On average, your food expense as a single adult will contribute$2,994 to living costs every year. Moreover, if you have a spouse and two children, you will be spending $8,822 on your cost of living for food each year.

·         Low Tax

There are only seven states in the US with no personal state income tax, and Texas is one. However, you have to pay uneven property taxes while contributing to the real estate. So if you want to escape the high taxes and reduce your tax liability, then moving to Texas can be the best thing you will do in 2021. As you won’t be paying taxes on personal income, you need to pay sales tax, which will be 6.25%. Furthermore, you have to pay for the gas tax, cigarette tax, firework tax, and hotel tax.

Why Should You Move to Texas in 2021?

  • The property and violent crime ratio are low in Texas, so you can enjoy a safe night’s sleep.
  • Texan has such a rich culture with an amazing interest in music, art, and food.
  • Texas is an affordable state where you will get enough to have fun and save.
  • TX has astounding job opportunities.
  • The temperature is hot.
  • You will find amazing cultural sites representing their history.
  • The real estate market in Texas is affordable.

Conclusion

Even though Texas is an incredible and affordable place to live with miraculous history and culture, you should learn about the opportunities and average living costs before relocating. All this information will help you change your lifestyle, so your expenses are under the budget. When you migrate to a new place like Texas, you need to have fun and finance your needs strategically.

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