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Cost of Living in Midland

Is it better to rent or buy in Midland? 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.

$96,896
$1,453/mo

Median in area: $1,453

$323,770

Median in area: $323,770

$64,754

If you Rent

🔑
$1,558 /mo
Base Rent$1,453
Est. Utilities$105
% of Income19.3%
Pre-tax Residual$6,517

If you Buy

🏠
$2,220 /mo
P&I (6.5%)$1,637
Taxes & Ins$478
Est. Utilities$105
% of Income27.5%
Pre-tax Residual$5,855

Cost of Living FAQs

Is it cheaper to rent or buy in Midland?›

Based on median housing data, renting is currently more affordable on a monthly basis in Midland. The estimated all-in monthly cost for renting is $1,558, while owning a median-priced home with a 20% down payment is roughly $2,220 per month (a difference of $662).

How much do utilities cost in Midland?›

The average monthly utility cost (electricity and natural gas) for a typical home in Midland is approximately $105. This estimate uses local utility rate schedules combined with median energy consumption profiles.

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

To comfortably afford the median rent and utilities in Midland without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $62,320 per year.