Big Spring cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexBig SpringTexasNational
Cost of living index8490100
IndexBig SpringTexasNational
Goods & Services index10094100
Groceries index8889100
Health care index9495100
Housing index5181100
Transportation index10693100
Utilities index9295100
The above illustration supplies generalized information for the Big Spring, TX cost of living index. Compared to other cities in Texas and cities across the country, the cost of living index in Big Spring, TX is 84, which is 7% lower than the Texas average and 16% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Big Spring, TX are 7% higher than the average for Texas and equal to the rest of the country.

Did you know?

  • The cost of living in Big Spring is 7% lower than the Texas average.
  • The cost of living in Big Spring is 16% lower than the national average.
  • The cost of housing in Big Spring is 49% lower than the national average.
  • Texas general sales tax is 23% higher than the national average.
  • Texas state income tax is 100% lower than the national average.

Find Real Estate Listings In Big Spring

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Big Spring

Compare Big Spring, TX Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
Using the salary calculator lets you compare the salary you earn in Big Spring, TX to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Big Spring, TX, you have to earn a higher income in order to still have the same standard of living. To operate the Big Spring, TX salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$56,291$4,691$1,313$1,689
Renters$32,382$2,699$756$972
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Big Spring, TX, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Big Spring, TX has a median income of about $56,291 for people who own homes. Based on that number, a person should spend a maximum of $1,313 on expenses related to housing. Renters have a slightly different median income, which is $32,382. Based on this average, renters should spend no more than $756 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Texas Sales Tax

StateGeneral Sales TaxWith Max Surtax
Texas6.25%8.25%

Texas Income Tax

StateIncome Tax (Low)Income Tax (High)
Texas0%0%
When assessing the complete cost of living in Big Spring, TX, the Texas income tax and the Texas sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Texas maximum surtax is 8.25%, and the Texas sales tax is 6.25%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0% to 0% in Texas.

Goods & Services

ItemBig SpringNational avg.Difference
Haircut $17.00$15.569.2%
Beauty Salon $32.11$36.1111.1%
Toothpaste $2.15$2.4712.9%
Shampoo $0.79$0.9617.8%
Movie $10.17$10.130.5%
Bowling $7.68$4.7462.3%

Groceries

ItemBig SpringNational avg.Difference
Ground Beef $3.31$3.9817.0%
Fried Chicken $1.18$1.4116.4%
Milk $1.91$2.067.3%
Potatoes $2.23$2.9825.2%
Pizza $10.51$9.4710.9%
Beer $8.60$8.792.2%

Health Care

ItemBig SpringNational avg.Difference
Optometrist $104.28$101.043.2%
Doctor $90.00$107.4416.2%
Dentist $86.96$90.423.8%
Ibuprofen $8.52$9.288.1%
Lipitor $433.66$426.501.7%

Housing

ItemBig SpringNational avg.Difference
Home Price $68,500.00$175,700.0061.0%
Avg. Mortgage Payment $911.17$1,133.2319.6%
Apartment Rent $738.00$920.0019.8%

Transportation

ItemBig SpringNational avg.Difference
Gasoline $1.83$1.998.0%
Tire Balancing $62.22$45.7636.0%

Utilities

ItemBig SpringNational avg.Difference
All Electricity$157.22$163.814.0%
Phone $24.95$28.3912.1%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Forsan, TX23279-21%
Coahoma, TX74884-16%
Sand Springs, TX92184-16%
Big Spring, TX27,76884-16%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Holbrook, NY27,76514747%
Mason City, IA27,77584-16%
Harker Heights, TX27,75791-9%
Southlake, TX27,75515151%
Marshalltown, IA27,74983-17%
Big Spring, TX27,76884-16%
Source: The Big Spring, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.