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Cost of Living in El Paso

Is it better to rent or buy in El Paso? 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.

$64,281
$1,199/mo

Median in area: $1,199

$187,012

Median in area: $187,012

$37,402

If you Rent

🔑
$1,347 /mo
Base Rent$1,199
Est. Utilities$148
% of Income25.1%
Pre-tax Residual$4,010

If you Buy

🏠
$1,505 /mo
P&I (6.5%)$946
Taxes & Ins$411
Est. Utilities$148
% of Income28.1%
Pre-tax Residual$3,852

Cost of Living FAQs

Is it cheaper to rent or buy in El Paso?›

Based on median housing data, renting is currently more affordable on a monthly basis in El Paso. The estimated all-in monthly cost for renting is $1,347, while owning a median-priced home with a 20% down payment is roughly $1,505 per month (a difference of $158).

How much do utilities cost in El Paso?›

The average monthly utility cost (electricity and natural gas) for a typical home in El Paso is approximately $148. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in El Paso?›

To comfortably afford the median rent and utilities in El Paso without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $53,880 per year.