Bonham 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.
Cost of living index7991100
Goods & Services index8997100
Groceries index9190100
Health care index8796100
Housing index5381100
Transportation index10495100
Utilities index8194100
Displayed above is a general overview of the Bonham, TX cost of living index. The overall cost of living index in Bonham, TX is 79, which is 13% lower than the Texas average and 21% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Bonham, TX are 9% lower than the Texas average and 12% lower than the national average.

Did you know?

  • The cost of living in Bonham is 13% lower than the Texas average.
  • The cost of living in Bonham is 21% lower than the national average.
  • The cost of housing in Bonham is 47% 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.

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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
The salary calculator allows you to compare how much your current salary in Bonham, TX would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Bonham, TX, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Bonham, TX salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
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 Bonham, 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. Bonham, TX has a median income of about $44,816 for people who own homes. Based on that number, a person should spend a maximum of $1,046 on expenses related to housing. Renters have a slightly different median income, which is $16,515. Based on this average, renters should spend no more than $385 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

Texas Income Tax

StateIncome Tax (Low)Income Tax (High)
For those who live in Bonham, TX and want to know what the true cost of living is, they ought to look at both the Texas income tax rate and the Texas sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Texas, the sales tax is 6.25%, while the most you'll pay in surtax is 8.25%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Texas, the income tax rate ranges between 0% to 0%.

Goods & Services

ItemBonhamNational avg.Difference
Haircut $12.50$14.5914.3%
Beauty Salon $23.50$34.6832.2%
Toothpaste $2.39$2.473.4%
Shampoo $1.09$1.026.7%
Movie $8.75$9.8711.3%
Bowling $4.00$4.398.9%


ItemBonhamNational avg.Difference
Ground Beef $3.60$4.4819.6%
Fried Chicken $1.08$1.4626.2%
Milk $3.36$2.3642.6%
Potatoes $3.30$3.067.8%
Pizza $9.99$9.248.1%
Beer $8.50$8.631.5%

Health Care

ItemBonhamNational avg.Difference
Optometrist $85.00$99.7814.8%
Doctor $85.00$105.0319.1%
Dentist $75.00$88.7015.4%
Ibuprofen $9.59$9.411.9%
Lipitor $272.49$298.508.7%


ItemBonhamNational avg.Difference
Home Price $79,500.00$175,700.0054.8%
Avg. Mortgage Payment $815.00$1,081.0324.6%
Apartment Rent $660.00$920.0028.3%


ItemBonhamNational avg.Difference
Gasoline $2.00$2.094.4%
Tire Balancing $58.00$45.2928.1%


ItemBonhamNational avg.Difference
All Electricity$129.85$170.8024.0%
Phone $24.95$28.2611.7%
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.
Hendrix, OK6771-29%
Kemp, OK15473-27%
Ravenna, TX16973-27%
Ladonia, TX65974-26%
Bailey, TX23075-25%
Bonham, TX10,05979-21%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Benton Harbor, MI10,05679-21%
Great Neck, NY10,05219595%
Bellmead, TX10,05281-19%
Anderson, CA10,06611515%
Carroll, IA10,05183-17%
Bonham, TX10,05979-21%
Source: The Bonham, TX cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.