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Cost of Living in Texas

Is it better to rent or buy in Texas? 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.

$87,751
$1,512/mo

Median in area: $1,512

$312,140

Median in area: $312,140

$62,428

If you Rent

🔑
$1,635 /mo
Base Rent$1,512
Est. Utilities$123
% of Income22.4%
Pre-tax Residual$5,678

If you Buy

🏠
$2,325 /mo
P&I (6.838%)$1,634
Taxes & Ins$568
Est. Utilities$123
% of Income31.8%
Pre-tax Residual$4,987

Cost of Living FAQs

Is it cheaper to rent or buy in Texas?›

Based on median housing data, renting is currently more affordable on a monthly basis in Texas. The estimated all-in monthly cost for renting is $1,635, while owning a median-priced home with a 20% down payment is roughly $2,325 per month (a difference of $690).

How much do utilities cost in Texas?›

The average monthly utility cost (electricity and natural gas) for a typical home in Texas is approximately $123. This estimate uses local utility rate schedules combined with median energy consumption profiles.

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

To comfortably afford the median rent and utilities in Texas without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $65,400 per year.