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Cost of Living in Lipscomb County

Is it better to rent or buy in Lipscomb County? 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.

$74,451
$829/mo

Median in area: $829

$127,550

Median in area: $127,550

$25,510

If you Rent

🔑
$1,093 /mo
Base Rent$829
Est. Utilities$264
% of Income17.6%
Pre-tax Residual$5,111

If you Buy

🏠
$1,248 /mo
P&I (7.436%)$709
Taxes & Ins$275
Est. Utilities$264
% of Income20.1%
Pre-tax Residual$4,956

Compare Nearby Areas

See how Lipscomb County stacks up against neighboring areas.

countyRoberts County, TX
$859/mo
countyHemphill County, TX
$836/mo
countyBeaver County, OK
$830/mo
countyOchiltree County, TX
$991/mo
countyEllis County, OK
$811/mo

Cost of Living FAQs

Is it cheaper to rent or buy in Lipscomb County?›

Based on median housing data, renting is currently more affordable on a monthly basis in Lipscomb County. The estimated all-in monthly cost for renting is $1,093, while owning a median-priced home with a 20% down payment is roughly $1,248 per month (a difference of $155).

How much do utilities cost in Lipscomb County?›

The average monthly utility cost (electricity and natural gas) for a typical home in Lipscomb County is approximately $264. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Lipscomb County?›

To comfortably afford the median rent and utilities in Lipscomb County without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $43,720 per year.