How Much Does it Cost to Live In Texas?

In Texas, it's recommended that a single person maintains a minimum salary of roughly $43,000 in order to live comfortably. For supporting a small family? $57,000.

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So, what does that mean to "live comfortably" in The Lone Star State? Looking at the average cost of living expenses throughout the state, we can see how Texans like to spend their money.

Sofi.com breaks down the average expenditures throughout the state:

Housing costs

As of 2023, the average home in Texas is priced at $290,863. Also, in 2021, the average rent payment was $1,167 (a good portion less than the current average in Texas at $1,950).

Also as of a year ago, the average home price in Dallas was over $361,000. In Austin? A bank-breaking $482,000.

Lubbock sees an average home cost, currently, of around $200,000.

Utility costs

Everybody's favorite expense! In 2023, vaultelectricity.com indicated that the average electricity bill for Texans came out to about 133 bucks a month.

Add in gas and internet, along with the average $97/month water bill, and the grand total for the average cost of utilities came out to about $456 every month.

Grocery trips

For myself and probably millions others, my trips to the grocery store has been noticeably higher, requiring me to budget more and more as months go by.

Well, as of this year, Texans are averaging nearly $300 per trip to the grocery store.

Miscellaneous expenses

Looking at other costs aside from the essentials, the average cost of health insurance in Texas starts just under $1000/month for one parent and one child but can easily double or more depending on the size of the family under the plan.

According to unbiased.com, the average cost of transportation each year for a single adult is about $5,400. For a two-parent family with two kids? Over $14,400.

So, all in all, the cost of living in Texas has increased quite a bit as compared to other years in the past, but what state hasn't?

But hey, no income tax, am I right?