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Cost of Living in Amarillo

Is it better to rent or buy in Amarillo? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$75,854
$1,162/mo

Median in area: $1,162

$209,870

Median in area: $209,870

$41,974

If you Rent

🔑
$1,353 /mo
Base Rent$1,162
Est. Utilities$191
% of Income21.4%
Pre-tax Residual$4,968

If you Buy

🏠
$1,730 /mo
P&I (6.5%)$1,061
Taxes & Ins$478
Est. Utilities$191
% of Income27.4%
Pre-tax Residual$4,591

Cost of Living FAQs

Is it cheaper to rent or buy in Amarillo?›

Based on median housing data, renting is currently more affordable on a monthly basis in Amarillo. The estimated all-in monthly cost for renting is $1,353, while owning a median-priced home with a 20% down payment is roughly $1,730 per month (a difference of $377).

How much do utilities cost in Amarillo?›

The average monthly utility cost (electricity and natural gas) for a typical home in Amarillo is approximately $191. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Amarillo?›

To comfortably afford the median rent and utilities in Amarillo without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $54,120 per year.